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Fundstrat Global Advisors co-founder Tom Lee says federal rate cuts in the U.S. are beneficial to Bitcoin, which may retake $20,000 by the year’s end. Fundstrat Global Advisors co-founder Tom Lee believes that recent interest rate cuts in the United States by the Federal Reserve are a boon for Bitcoin (BTC). Lee remarked on how the rate cuts positively impact Bitcoin investment in an interview with Fox Business on July 31, saying: “Bitcoin’s becoming increasingly a macrohedge for investors against things that could go wrong. Rate cuts are adding liquidity. Liquidity is pushing money into all these risk assets and also hedges, which is helping Bitcoin.” Lee delivered a couple more general remarks about Bitcoin, which climbed back above the $10,000 mark earlier today. In terms of price, Lee thinks it is plausible for the coin to retake its all-time high by the end of the year. He remarked: “We don’t have a target for Bitcoin, but the prior high was $20,000. I think there’s a good possi..
Bakkt’s crypto futures contracts to launch in the current quarter per a Fundstrat strategist’s account of Bakkt’s recent event. Managing director and quant strategist at Fundstrat Global Advisors Sam Doctor suggested in a Twitter post published on July 19 that Bakkt’s Bitcoin (BTC) futures contracts will launch this quarter. According to the post, which includes a summary of Fundstrat’s takeaways from the Bakkt Digital Asset Summit held on July 18, the firm’s futures will launch in the current quarter. The launch is set to follow tests announced last month, which are scheduled to start next week. The firm believes that the launch will be a catalyst to accelerate entry of traditional institutional investors. The post notes: “There appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch, with the sales team gaining traction among brokers, market makers, prop trading desks and liquidity providers.” During the aforementioned event, Commodities Futures..
Fundstrat Global Advisers co-founder Thomas Lee said that the recent Bitcoin pullback is healthy. Fundstrat Global Advisers co-founder Thomas Lee wrote that the recent Bitcoin (BTC) pullback is healthy in a tweet on July 14. In his tweet, Lee also addressed concerns over the recent decrease in Google searches for Bitcoin: “As for the search traffic for bitcoin being low, I also think that is a good sign. It means the rise in Bitcoin has not been accompanied by massive hype.” According to search analytics service Google Trends, Google searches for Bitcoin from within the United States have decreased by about 45% since their recent peak at the end of June. Google search data for Bitcoin in the U.S. Source: Google Trends The CEO of major cryptocurrency exchange Binance, Changpeng Zhao, said in an interview with Bloomberg on July 12 that the recent rally has been mostly driven by retail investors, who still account for about 60% of total trading volume. Zhao said: “We have not seen insti..
Bitcoin News Today – In the beginning of the year one of the trending Bitcoin price predictions was the Tom Lee Bitcoin price prediction. Fundstrat’s Tom Lee has always been a Bitcoin bull. Even during the cryptocurrency winter, he was one of the few public figures who didn’t give up on Bitcoin because they knew a major recovery is on the way. As the price of Bitcoin fell from its all-time high near $20,000 to the $3200 low last year, Lee predicted that the cryptocurrency winter will end when the bulls drive the price above $4000. He also said that crossing the physiological hurdle at $10,000 will pave the way for more Bitcoin gains. So, what does Lee have to say about the current price action of Bitcoin? Bitcoin News Today – Bitcoin Price Prediction 2019 – Bitcoin Latest Update – Tom Lee Predicts While the price of Bitcoin has been rising steadily since the beginning of the year, it picked up the pace in the last two weeks and ended up increasing significantly against the USD. For th..
Fundstrat Global Advisers Co-Founder Thomas Lee suggested that bitcoin’s volatility makes a long-term approach more appropriate for most traders. Fundstrat Global Advisers Co-Founder Thomas Lee suggested that bitcoin’s (BTC) volatility makes a long-term approach towards it more appropriate for most traders in a tweet published on June 27. In his tweet, Lee intended to remind others that “bitcoin is a hypervolatile asset” and that this makes it “great for volatility and other dedicated traders.” Still, he noted that most should probably use a different approach instead: “For most, taking a long-term view is more appropriate.” Lee’s remarks were an answer to a Bloomberg’s tweet pointing out that bitcoin is up 39% this week, but that it has lost over $1,800 of value within about 10 minutes today in a correction. Representing the opposite view, Washington Post columnist Michelle Singletary suggested in an article published today that people tempted to invest in bitcoin should “keep in mi..
Fundstrat Global Advisors co-founder Tom Lee said that bitcoin could easily reach new highs. Fundstrat Global Advisors co-founder Tom Lee said that bitcoin (BTC) could easily reach new highs during an interview with CNBC published on June 18. In his comments, Lee said that bitcoin is becoming the reserve currency of the cryptocurrency space, and noted that it has been worth over the $9,000 price level in only 4% of its history. Then, he declared: “I think bitcoin is easily going to take out its all-time highs.” Before making those price predictions, Lee also noted that Facebook’s Libra project is a validation of mainstream interest in cryptocurrencies. He also stated that he thinks this development “completely destroys this argument that says ‘I believe in blockchain, not bitcoin.” He also expressed his idea that — while he believes libra is going to be one of the dominant stablecoins — other stablecoins will most likely survive: “I don’t think that they are gonna drop in value becaus..
In its new technical analysis, market research company Fundstrat Global Advisors says that it is time to buy cryptocurrencies. In its new technical analysis, market research company Fundstrat Global Advisors says that cryptocurrencies are poised to make further gains, Bloomberg reported on June 13. Per the analysis, most digital currencies are trending upwards as relative-strength-index momentum has begun to turn upward from neutral. The tendency purportedly indicates strength in the markets. Rob Sluymer, a technical strategist at Fundstrat, told Bloomberg that he is recommending investors demonstrate patience in the wake of the crypto markets’ surge in May, but stressed that there are early signs of potential new gains. Sluymer said: “Another upside attempt appears to be developing for most cryptocurrencies. Increase exposure. We expect bitcoin to stage another rally from current levels toward next resistance between $8,800–$9,000.” In late May, Fundstrat co-founder Tom Lee claimed t..
A recent note from the pro-bitcoin firm says incoming volatility should be used to accumulate. Bitcoin’s (BTC) price may pull back soon, but investors should leverage it to buy more, Bloomberg quoted market strategy firm Fundstrat Global Advisors as saying on May 3. In a note to clients on May 2, Fundstrat analyst Robert Sluymer said that while bitcoin’s current strength marks the start of a longer-term bullish trend, the accumulation phase is not yet over. BTC/USD has climbed throughout this week to hit 2019 highs on Friday, continuing on to achieve its highest levels since November 2018’s breakdown. “Use pending pullbacks to continue accumulating Bitcoin in the second quarter in anticipation of a second-half rally through ~6,000 resistance,” he advised, signalling volatility should appear in the short term. Slyumer continued: “While it’s premature to conclude Bitcoin will not retest support near $4,300, we would encourage traders and investors to remain focused on the bullish longer..
Fundstrat Global Advisors founder Tom Lee has predicted that cryptocurrencies will hit new historic highs by 2020. Fundstrat Global Advisors founder Tom Lee has predicted that cryptocurrency prices will hit new historic highs by 2020. Lee delivered his comments during an interview with CNBC on April 28. In the interview, Lee forecasted that bitcoin (BTC) has not completed its upward movement and will likely reach new all-time highs around 2020 based on “11 signs that historically only take place in a bull market.” Lee thusly reiterated his previous prognosis made earlier this month, when he said that “a bull market is likely starting.” Lee explained that three out of those 11 signs — blockchain, technical indicators and trading volumes — indicate that the crypto winter has seen its end. In January, Lee’s team observed that trading volumes on the blockchain turned positive at an annual rate, while the second sign popped up in April, when BTC closed above its 200-day moving average. The..
Tom Lee pointed out that the value currently reported by his company’s bitcoin sentiment indicator has never been seen in a bear market. Fundstrat Global Advisors founder Tom Lee pointed out that the value currently reported by his company’s bitcoin (BTC) sentiment indicator Bitcoin Misery Index (BMI) has never been seen in a bear market. Lee made his comments during an interview with Cointelegraph published on April 19. During the interview, Lee noted that through 2018, the BMI has not been over 50, while it now recently touched a value of 89. According to Lee, values over 67 have never taken place in a bear market. Lee concluded: “It means that a bull market is likely starting.” Still, he also explained that when the indicator reported such a high value, “six out of six times, there was a drawdown in the market.” Lee claims the drawdown averaged to 25% in such instances, and that in the short term, the market could see a headwind. Moreover, he also stated that this could also mean t..