According to Tom Lee, analyst and co-founder of Fundstrat Global Advisors, the bearish trend that has been going on for almost a year is the “golden time” for cryptocurrency market participants.

Speaking at the BlockShow Asia 2018 conference, Lee named three main reasons that led to a market crash:

Controversial Bitcoin Cash (BSH) hard fork; Tough measures by the US Securities and Exchange Commission in relation to the initial coin offerings, including demands to return funds to ICO investors “Terrible” state of affairs in global markets, which fell by about 10% during October – November.

Despite all these factors, the analyst is still optimistic. Describing the current market situation, Lee said the following:

“We have a price correction taking place, which has caused the price to fall even below its 200-day [a popular technical indicator used by investors to analyze price trends], but if you’ve got time, it will arise. It will not happen within three months, or one year, but in two to three years, and this is the golden time to be in crypto. As soon as Bitcoin crosses its 200-day, we know there will be a flood of money coming.”

Tom Lee is convinced that the cryptocurrency will become a full-fledged and generally recognized class of assets.

“The only time the return is better than 7 percent is when you buy at a bear market. Bitcoin may have downsides in the near term, but this doesn’t change the fact we are still in the earliest days of crypto, and it’s about to become an emerging asset class,” he added.

During his speech at BlockShow, Lee also noted that the crypto industry now has only 50 million active wallets. At the same time, the total number of Visa and MasterCard accounts is 4.6 billion. Taking into account the potential network effect, the analyst does not exclude that in ten years the price of Bitcoin may reach $10 million per coin!?

Finally, Tom Lee said that BTC will show itself from the good side next year, despite the fact that the next three months are fraught with a possible price drop. Analyst forecast is based on the fact that institutional investors and large corporations, including Microsoft and Starbucks, are showing interest in digital currencies.

Recently Tom Lee in a regular conversation with CNBC said that the recent sharp decline in the price of Bitcoin is inherent only in the short term.

Bitcoin plunged 16% 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. https://t.co/H04pEqEm7v pic.twitter.com/AZ2zQZWcea — CNBC (@CNBC) November 20, 2018