Hedge fund veteran Tom Lee remains long-term bullish on Bitcoin (BTC) and expects the crypto industry to come out of its bear market stronger than before.
In a new interview on CNBC, the Fundstrat managing partner says while 2022 has been “terrible” for crypto investors with the collapse of FTX, he thinks a new chapter could be emerging.
“Nobody has made money in crypto in 2022, but it’s not that different than 2018. If we look back at that crypto winter when Bitcoin went from $17,000 to something like [$3,200] or so, that was the time that some of the best projects were created. So I think that it’s an important moment for the industry. I think it is cleansing a lot of bad players, and I think it’s important.”
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TimeStamps: (Check back later)
Show Notes / News Resources:
✔ Bitcoin Technical Analysis: https://bit.ly/3Uddmbe
✔ AAX Exec Leaves Crypto Exchange: https://bit.ly/3u6ltvH
✔ FTX Collapse SBF Google Searches: https://bit.ly/3ijondX
✔ Dogecoin Surges 19.4%: https://bit.ly/3ubFOj2
✔ Bitcoin & Ethereum Worst Case Scenario: https://bit.ly/3H168nE
✔ Tom Lee Still A Bitcoin Bull: https://bit.ly/3ikXl5I
✔ Tom Lee’s $200K BTC Prediction: https://bit.ly/3F8yYkL
🔴 DISCLAIMER: This is NOT financial advice. This is an entertainment and opinion-based show. I am not a financial adviser. I am not responsible for any investment decisions that you choose to make. Always do your own research and never invest what you cannot afford to lose.
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Facebook Invests $10 Billion Into the Metaverse
Earlier this week, Facebook announced that it would invest $10 billion into the Metaverse, a technology that aims to bring people together online. In a company call, Chief Executive Mark Zuckerberg said that the Metaverse would be the next big thing.
The technology is a combination of hardware and software that allows users to create their own digital worlds. These worlds can be accessed by virtual-reality headsets. Users will create avatars, which are digital representations of themselves. They will also be able to interact with virtual worlds and hang out with other avatars.
These virtual worlds will also be used to provide services. For example, brands can advertise in the metaverse and sell their products in the real world. Similarly, users can sell their tokens for real world value.
Some companies are already actively marketing on the Metaverse. These companies include the video game company Roblox, as well as several other larger firms.
The metaverse is the next big thing in the world of tech. It could be the technological breakthrough since the invention of the internet. However, it is still in its infancy and not well defined. The idea is that it will bring people together through a single virtual world, allowing them to hang out, play games, and browse the web. It’s also expected to include a variety of use cases, such as virtual scarcity.
The metaverse is a stepping stone for many other companies, including Coca-Cola and Louis Vuitton. These companies have partnered with online game platform Roblox to sell digital tokens.