Fundstrat’s research director Tom Lee predicted that a period has begun in the crypto markets where altcoins will outperform major crypto assets.
In a conversation with SkyBridge Capital founder Anthony Scaramucci, Lee told investors about Ethereum (ETH)$ETH
and recommended investing in altcoins like Solana (SOL).
Tom Lee stated that a period in which crypto markets will spread to a wider area is approaching and this will present great opportunities especially for experienced investors.
"We are entering the altcoin season. Next year, the crypto market will be more diversified. Altcoin experts can create serious alpha during this period as many altcoins can perform strongly during this period."
Lee, Ethereum and Solana$SOL
He said that he counts them among the basic crypto assets along with Bitcoin and recommends his investors to focus on these assets. Ethereum’s smart contract infrastructure and Solana’s low-cost, fast network are among the factors that will help both assets stand out in the altcoin season.
Lee also noted that Bitcoin has huge upside potential, predicting that the price of Bitcoin could surpass $250,000 in the next 12 months. He noted that this prediction is based on both the current price cycle and the positive approach of the United States towards Bitcoin.
"The new administration is moving toward designating Bitcoin as a strategic reserve asset. The U.S. government's targeting of one million Bitcoins could further legitimize Bitcoin and raise its price."
Lee stated that this move by the US government could have an impact similar to the success MicroStrategy achieved by using Bitcoin as an asset on its balance sheet.