It's only a matter of time before bitcoin takes out its old highs...

At least according to Tom Lee of Fundstrat Global Advisors.

I think he most likely is going to be proven right as well.

Even more specifically, he thinks bitcoin is going to take out those old highs rather quickly.

(Source: https://www.businessinsider.com/bitcoin-cryptocurrency-market-tom-lee-sees-buying-opportunity-2018-1)

Why does he think that?

Well for one, he says institutions are finally getting involved and the $10k number is a very big threshold for them.

Once bitcoin goes over $10k, they will look at it like, hey it is a double from here to get back to the all time highs, that seems very doable.

And there aren't many places in traditional investing where investors can expect a double on their money in a relatively short period of time.

Which means, anything that has a decent chance of doubling gets their attention, no matter what it is.

But wait, there's more...

Secondly, he thinks Facebook is going to help make it happen with the launch of their new Libra coin.

The new coin will be introduced to 2.3 billion people, which is roughly 30% of the planet for those of you who are counting that sort of thing.

Some of these people will likely venture into other crypto assets...

Bitcoin likely being the biggest beneficiary.

For those reasons, Lee thinks Bitcoin could easily break its old highs in a matter of months.

Libra is expected to go live in Q1 of 2020.

Stay informed my friends.

-Doc