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If you're trying to figure out when the Bitcoin crisis will end, you may want to look at emerging markets.
The ETF on iShares MSCI Emerging Markets Index fell about 8 percent this year. It's painful, but not as bad as the bitcoin's epic sell-off.
Bitcoin's buying frenzy stopped almost immediately after reaching a record of just $ 20,000 last December. Since then, cryptocurrency has decreased by 65 percent. It is now trading on the $ 6000 from August 8th.
Lee argues that hedge funds are not taking risks when emerging markets sell out. Recent business suggests that they are not buying bitcoins.
But that bearish trend may be about to end.
Lee, who owns bitcoin and was one of the biggest bulls on Wall Street, sees the tide change in favor of both market areas, especially if the dollar weakens and the Federal Reserve slows down its upside policy interest rates. He also points out that there are large amounts of money and firepower on the sidelines in the cryptocurrency space.
These factors could help the bitcoin rise to $ 25,000 when 2018 settles down, according to Lee.
"I still think it's possible," Lee said. "Bitcoin could end the year explosively."
