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Fundstrat Expects 2019 to Bring Incremental Improvements Supporting Higher Crypto Prices

Fundstrat Global Advisors issues its 2019 crypto outlook stating that the major coins will soon recover. New York-based research company Fundstrat Global Advisors has released its 2019 crypto outlook on Friday, Feb. 8. The analysts describe incremental improvements that will purportedly support higher prices for cryptocurrencies. Tom Lee, Fundstrat’s co-founder and pro-crypto Wall Street analyst, commented on the study in his Twitter. He posted an introduction to the study and infographics that trace key market tendencies from 2017 to now. “We see 9 incremental improvements in the landscape that ultimately support higher prices,” Lee’s tweet states. The preview of the introduction chapter provides a brief assessment of 2018, which, according to Fundstrat, has brought a lot of disappointment. The analysts state that negative headwinds, such as the initial coin offering (ICO) post-hangover, adverse regulatory developments and excessive exuberance have reversed some of crypto’s achieveme..

Bitcoin, Altcoins Are Vulnerable to New Lows, Fundstrat Warns Clients

The investment firm forecasts trouble from cryptocurrencies based on current short-term trends. Cryptocurrency markets could soon hit lower lows and continue their record bear market, investment and analysis firm Fundstrat Global Advisors warned in an email quoted by Bloomberg on Feb. 6. Writing to traders, one strategist at the firm, Robert Sluymer, forecast that on the basis of current performance, there was a chance Bitcoin (BTC) and altcoin prices could dip further. BTC/USD has fallen around 2.2 percent over the past week to trade at $3,370 as of press time Thursday, as many altcoins have seen bigger drops. Sluymer said: “The price structure for most cryptocurrencies remains weak and appears vulnerable to a pending breakdown to lower lows.” Fundstrat is known within the cryptocurrency space for providing some of the more upbeat narratives on the future of Bitcoin in particular. Enthusiasm appeared to wane in recent months, however, with popular senior Fundstrat strategist Tom Lee ..

Fundstrat’s Tom Lee: Bear Markets Are a ‘Golden Time’ to Be...

Tom Lee believes the bear market is the golden time to invest in cryptocurrencies, noting BTC prices are going to be “dramatically higher” in 2019. The current bear markets are the “golden time” to be in crypto, major Wall Street crypto bull and co-founder of Fundstrat Global Advisors Tom Lee said Wednesday, Nov. 28, during his speech at BlockShow Asia 2018. Fundstrat’s co-founder named three main reasons behind the recent crypto market collapse: Bitcoin Cash’s (BCH) contentious hard fork, the regulatory actions of the U.S. Securities and Exchange Commission (SEC) forcing Initial Coin Offerings (ICO) to return funds to investors, and the “terrible” condition of global markets, which have dropped by approximately 10 percent in October and November. However, the investor refused to change his positive outlook on cryptocurrencies. Describing the ongoing situation, Lee explained: “[We] have a price correction taking place, which has caused the price to fall even below its 200-day [a popu..

Fundstrat’s Tom Lee Predicts Bitcoin Recovery, But Lowers End-Year Target to...

Tom Lee has lowered his expectations for Bitcoin’s price at the end of the year to $15,000 from the previous $25,000. Wall Street analyst and cryptocurrency bull Tom Lee has nearly cut his end-year Bitcoin (BTC) price target in half from $25,000 to $15,000, CNBC reported Nov. 16. According to Lee – the co-founder of market advisory firm Fundstrat Global Advisors – the key factor behind his new target is Bitcoin’s “break-even point,” or the level at which the cost to mine Bitcoin matches its trading price, as CNBC reports. According to Fundstrat’s data, this point is at around $7,000. Bitcoin is currently trading well below this value – $5,550 at press time. According to CNBC, however, Lee told clients in a note Friday that BTC has “never sustained a move below breakeven [sic].” While he is strongly betting on recovery, Lee acknowledges that breaking “below that psychologically important $6,000” leads “to a renewed wave of pessimism.” Moreover, he also added: “But we believe the negati..

Bitcoin’s Breakdown Will Take ‘Weeks, If Not Months’ to Rebound, Says...

Bitcoin’s slump will take “weeks, if not months” to repair the damage and to build sustainable support for multi-month rally, analyst reports. lt will take “weeks, if not months” to repair the “technical damage” caused by the recent collapse of Bitcoin (BTC), according to a Fundstrat Global Advisors analyst, Bloomberg reports today, Nov. 15. In a note to clients yesterday, cited by Bloomberg, Fundstrat’s Rob Sluymer predicted that Bitcoin’s collapse yesterday has pushed crypto markets into a “deeply oversold” area, while “longer-term technical indicators aren’t so favorable.” Sluymer concluded that Bitcoin will be able to support a “multi-month rally,” but only after the “significant” damage done this week has been overcome: “This week’s breakdown produced significant technical damage that will likely take weeks, if not months, to repair to create a durable enough price ‘structure’ to support a multi-month rally.” Yesterday, the largest cryptocurrency Bitcoin dipped below the $5,600 p..

Fundstrat’s Tom Lee ‘Pleasantly Surprised’ by Recent Stability of Bitcoin

Bitcoin advocate Tom Lee is “pleasantly surprised” by the recent stability of Bitcoin, given “how small BTC is in terms of market capitalization.” Fundstrat Global Advisors’ Bitcoin (BTC) analyst Tom Lee said that he is “pleasantly surprised” by the recent stability of BTC in an interview on CNBC’s Squawk Box Oct. 29. Lee expressed surprise at Bitcoin’s recent behavior given a recent 9 percent slump in equity markets. Lee said he expected that “Bitcoin volatility should be much higher” based on “how small Bitcoin is in terms of market cap.” When asked whether the current period of stability is “a good point to get in” for those wishing to enter the cryptocurrency space, Lee answered in the affirmative, as “Bitcoin seems to find its floor at $6,000.” As for sustained BTC price growth, Lee said that the Bitcoin needs more fiat inflows, which is — in his view — real evidence of adoption. This will start happening by the end of this year or early next year, with the launch of new platform..

Fundstrat Survey: 54% of Institutional Players Think Bitcoin Price Has Already...

Tom Lee’s survey: 54% of institutional investors vs 44% of respondents on Twitter agree that Bitcoin has hit the price bottom. Institutions appear to be more bullish on Bitcoin (BTC) than the members of the crypto community on Twitter, according to a recent survey by Fundstrat Global Advisors. Tom Lee, managing partner and head of research for the company, has revealed this in an interview with CNBC Oct. 4. Based on the results of a private survey of 25 institutions, as well as 9,500 responses to a public Twitter poll conducted September 30, Tom Lee concluded that Wall Street is calling a bottom in Bitcoin. As much as 54 percent of respondents to the survey of institutions are optimistic about the cryptocurrency, saying that Bitcoin has already hit its lowest price point this year. Institutional players are also bullish in regards to the potential future growth of Bitcoin. 57 percent of those surveyed have said that Bitcoin’s price is going to reach anywhere from $15,000 to “the moon”..
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