The co-founder and head of research at Fundstrat Global Advisors, Tom Lee, believes that Bitcoin needs to experience a more significant crash before it can make a strong comeback. He argues that the current 15% drop in value is a normal correction for the volatile asset and that Bitcoin is still early in its halving cycle. Fundstrat's technicians predict that Bitcoin may drop another $20,000 before correcting, with a potential support level at $70,000. However, Lee also suggests that Bitcoin could fall even lower to the $50,000 range before rallying again. Despite the current market conditions, Lee views Bitcoin as one of the best-performing assets and recommends treating it as a long-term investment. At the time of writing, Bitcoin's value is $91,731, representing a 10% decrease during the week.



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