Tom Lee, co-founder of Fundstrat Global Advisors, in a conversation with CNBC, expressed confidence that the crypto market had entered a growth phase and also mentioned several factors indicating a continuation of the upward movement of the Bitcoin price (BTC) .
According to him, at the moment BTC is trading above the 200-day moving average (MA). This line is perceived by many investors as a kind of border between the bear and bull phases of the market.
Therefore, at present, this MA gives a positive signal that the notorious “cryptozyme” has finally passed and the market has obviously entered the growth phase, and Bitcoin will break through new highs in the next 20 months.
Bitcoin bull @Fundstrat 's Tom Lee says he has three signs crypto spring has sprung. Check it out pic.twitter.com/wSaKFQnIvw
– CNBC Futures Now (@CNBCFuturesNow) April 25, 2019
Lee also noted an increase in trading volumes by 60-70% in over-the-counter (OTC) markets. However, he is sure that the mass adoption of cryptocurrencies depends more on retail investors than on large players:
“Until the crypt becomes part of the existing financial system and begins to be used in daily operations, it will remain a speculative asset.”
Recall recently Tom Lee said that the so-called "misfortune index" signals in favor of the rise in the price of Bitcoin.
Publication date 28.04.2019
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