I don't think I've ever seen Tom Lee make a bearish comment, so I fully expected him to have some positivity to bring to the table, even in the face of the bear market we have been experiencing. Of course, you could say that his opinion on the matter is not too relevant, and I would somewhat understand your point, but you can't say he's not being logical here.

Despite BTC going under 5K a number none of us ever expected to see, well I should say most of us, he still holds on to his 15k year end prediction. Now the body language of the recent interview on CNBC may not show the confidence he normally exudes, but at least he is sticking to his guns, right?

We know factually that institutional investment is around the corner, and even though BAKKT has been delayed, the reasons for it could be logically justified. I happen to understand the argument for the lack of legislative clarity. Think about this for a second, can an Institution gamble with such amounts, when they don't know if tomorrow a law could pass destroying the infrastructure they would require to build for these financial products they are planning? Probably not, at least not responsibly so.

What will it be?

Do you think BTC will go back up before years end? It is completely possible, these prices are very tempting to people who understand how this whole crypto thing works. I would not be too surprised if it turned around starting the first week of December, but of course, just like you, I would not have a way to know this.

Regardless of the short term valuation of BTC, I'm sure that in the long term it will go back up. Why? Because it always has, the markets are cyclical and truth be told, people are greedy. It would probably just take a couple of green days for euphoria to kick in, probably.

At any rate, I'll be here looking at charts, attempting to "predict" when this whole thing is about to go crazy. Why? Maybe because I'm crazy too....