Tom Lee's Five Simple Reasons for a Bitcoin Bull Run in 2020

2020 will be a good year for Bitcoin's price, according to Lee.

Lee then listed five reasons why Bitcoin is up for a bull market in 2020.2020 U.S. electionsPolitical pressure against Bitcoin is going to be a lot lower in the United States.

While Washington essentially killed the Bitcoin rally last year, 2020 elections are going to shift politicians' focus away, which is good for crypto, Lee explained.

The Bitcoin halvingThe most important factor impacting Bitcoin's price is the halving, according to Lee.

Backed with a slide from his presentation, Lee noted that demand for Bitcoin in 2020 would probably be higher than it was last year, while supply will drop due to the halving.

"Bitcoin price is around $10K now, and if this is going to play out like the other halving periods, there's a good argument that Bitcoin makes an all-time high this year."

U.S.-Iran geopolitical tensions2020 started with strife brewing between the U.S. and Iran, which will affect the Bitcoin price for the rest of the year.

Geopolitical risks increase demand for safe haven assets like Bitcoin, Lee argued.

Coronavirus spreadResonating with almost half the crypto industry, Lee believes "The risk of a pandemic such as coronavirus is increasing the demand for Bitcoin and other safe-haven assets."

Lee recently predicted that Bitcoin is going to reach 40,000 points before Dow Jones does, after the latter beat BTC to 30,000, as Cointelegraph reported on Feb. 11.