• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
Join Student Coin ICO
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
Bitcoin Is Re-Entering A Bull Market, Fundstrat’s Tom Lee Confirms
Nexo

Bitcoin Is Re-Entering A Bull Market, Fundstrat’s Tom Lee Confirms

Trevor Smith by Trevor Smith
1 year ago
in Bitcoin Investment, News, News teaser, Trading
0

Fundstrat’s head of research asserts that Bitcoin has crossed its two hundred day moving average. This move represents a notable market move, and supports evidence that the leading crypto-asset will experience big gains this year.


A Bitcoin Bull Market Has Begun, Says Lee

Thomas Lee, the Head of Research at Fundstrat Global Advisors, has tweeted his latest analysis of Bitcoin’s recent price movement, along with claims that the flagship cryptocurrency appears to be in a recovery. Lee bases this claim on Bitcoin’s 200-day moving average, which has now been crossed.  Notably, this move is a strong indicator of an emerging bull market.

Bitcoin moved back above its 200-day moving average on 1/27… positive milestone and reinforcing 2020 shaping up to be great year for $BTC #bitcoin

– whenever BTC >200D, win-rate (6M forward) jumps to 80% and essentially "re-entering" bull market (>200D)#BTD #bestasset2020 pic.twitter.com/YbpQYHpLaj

— Thomas Lee (@fundstrat) January 29, 2020

Lee has also stated that Bitcon’s year-to-date gain of 26% represent the largest of any major asset class, with the cryptocurrency’s use as a safe haven asset being a likely contributor. It’s also worth noting that BTC price has moved up further since this tweet.

Bitcoin is best performing asset class YTD +26%… demand for "safe haven" is boosting Bitcoin and arguably, #Bitcoin is seen as a better "safe haven" than $Gold #gold

– Gold is up a decent 3% vs a whopping 26% for Bitcoin pic.twitter.com/GWKEfYGcut

— Thomas Lee (@fundstrat) January 28, 2020

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

 

Whereas Bitcoin is known for its market volatility, the moving average adds a degree of clarity to its price movement. Experienced traders have long used it as an important analysis tool, both for cryptocurrency and traditional financial markets. Thus, Lee’s projection is notable.

Lee Is Joined By Other Noteworthy Analysts

Lee has been optimistic about Bitcoin’s recovery for quite some time, with an impressive degree of accuracy. For example, last May he correctly predicted that the leading asset would remain above USD $6,200. 

After a disturbing pullback to ~$6,200, #Bitcoin back >$8,000 further cementing positive trend intact.

As we said a few weeks ago, Consensus 2019 @coindesk was to prove whether crypto winter is over…

…confirmed pic.twitter.com/M8ni4g2YvX

— Thomas Lee (@fundstrat) May 19, 2019

Whereas Bitcoin remains far below its all-time-high reached in January, 2018, a chorus of analysts are emerging to declare an end to the crypto winter. Importantly, like Lee, these experts hail from the legacy financial space, and back their claims with a range of technical indicators. 

Of particular interest is the upcoming Bitcoin halving, which has always marked upward price movement. This event is expected to occur in May, and will cut the block reward to 6.25 BTC per block. This step will significantly slow the number of Bitcoin’s being created, and thus likely push prices higher.

Renowned trader Peter Brandt is also bullish on Bitcoin right now, after highlighting a number of key factors which support Bitcoin’s likely continuation in a recent tweet.

Simply put, the present price of Bitcoin’s increase is too significant to be overlooked as an anomaly, and whereas it is reasonable to assume volatility will remain the norm, there is little debate that investors are taking a much greater interest in cryptocurrency investment. The fact that Bitcoin has been as profitable this year as some of the hottest stocks on the market has not gone unnoticed.

Do you agree with Tom Lee’s Bitcoin bullish optimism? Add your thoughts below!


Images via Shutterstock, Twitter @Fundstrat

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Trevor Smith

Trevor Smith

College professor, public speaker, and analyst of all things related to cryptocurrency and blockchain technology.

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.