Tom Lee Says This Week Could Be a Key Upside Window for Bitcoin
Summary
- Tom Lee said this week could be a key upside opportunity for Bitcoin.
- He said Bitcoin’s long-term returns are concentrated in a small number of strong up days, meaning investors need to remain consistently exposed to the market.
- He also said this week could be that opportunity, adding that long-term investors should choose a buy-and-hold strategy rather than trying to pick the bottom.
Tom Lee, chairman of BitMine Immersion Technologies, said this week could offer an important opportunity for Bitcoin to move higher. He argued that investors need to stay exposed to the market because Bitcoin’s long-term returns tend to be concentrated in a small number of powerful up days.
On Aug. 21, Lee wrote on X, formerly known as Twitter, that most of Bitcoin’s gains tend to come during the 10 best trading days of the year, and that this week could be one of them. Bitcoin is up more than 20% this week, putting it on track for its strongest weekly gain since 2024.
“Bitcoin’s gains are concentrated in just a few trading days,” Lee wrote. Missing the 10 best sessions can sharply reduce investment returns.
He added that this week could be that opportunity and said long-term investors should favor a buy-and-hold strategy rather than trying to time the exact bottom.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.