Analyst and co-founder of Fundstrat Global Advisors Tom Lee in the next conversation with CNBC expressed the view that the collapse of the markets — a global trend, and the continued rapid decline of bitcoin prices is only short-term.

Bitcoin plunged 16% on Tuesday and fell as low as $4,200.22.

Crypto evangelist Tom Lee joined us to discuss why he is lowering his bitcoin price target to $15,000 from $25,000.

— CNBC (@CNBC) on 20 Listopad 2018 R.

“Right now the world markets are very weak. Huge role they play panic and emotion, shares his thoughts on Whether. — Does this mean that bitcoin is down? No. Huskeys still exists. But in the short term panic is panic”

Also during the conversation the analyst is referred to the Commission on securities and exchange Commission (SEC), which studies the activities of many projects related to digital tokens. This, according to him, also puts considerable pressure on the market, creating negative sentiment.

Many experts believe that in addition to the legal uncertainty and tighter regulation, the market was negatively impacted by the recent hardwork Bitcoin Cash, which caused the emergence of two competing chains.

“The hash Bitcoin war between ABC and SV continues to influence the market, said CEO and founder of BKCM Brian Kelly. — Both sides, apparently, sell bitcoin for funding of mining. Each seeks to gain the upper hand in the confrontation”

Recall that less than a week ago That Lee expressed confidence that the price of bitcoin could reach $15 000 to the end of the year.