Tom Lee: "Bitcoin will rise above $150,000 this year."

While inexperienced crypto investors were surprised by the sharp price swings in recent weeks, experienced Bitcoin analyst Tom Lee remains calm.

In an interview with CNBC he cautions against trying to time the market: "Bitcoin makes all its gains in just ten days. If people wait for the right time, they miss the chance for Bitcoin to reach its record highs again."

Last Sunday night, Bitcoin and several major altcoins recovered strongly after U.S. President Donald Trump announced his plans for a strategic crypto reserve. Still, some Bitcoin maximalists reacted to the news with outrage.

After falling more than 10 percent on Tuesday, Bitcoin managed to recover somewhat today. At the time of writing, the price stands at $90,300, up 7.7 percent from the previous day.

Tom Lee, head of research at Fundstrat Global Advisors, sees the recent correction after January's record high as nothing special. According to him, it was a "fairly normal correction" for a "hyper-volatile asset".

In response to the astonished CNBC presenter, he makes a bold prediction: "Bitcoin will rise above $150,000 this year." That would mean a share price increase of more than 60 percent. Zijn redenering? "Bitcoin is being held in larger quantities, Citadel is starting to trade BTC and acceptance is increasing."