Tom Lee, co-founder of Fundstrat Global Advisors, called 13 signs of a bullish trend returning to the cryptocurrency market.
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 crying for winter…
… Confirmed pic.twitter.com/M8ni4g2YvX
– Thomas Lee (@fundstrat) May 19, 2019
One of the main signs of the analyst called the rapid recovery of the price of Bitcoin after the drawdown.
“After the rollback to $ 6,200, Bitcoin rose again to $ 8,000. This further strengthened the positive momentum, ”wrote Tom Lee.
Also among the reasons for the end of cryptozymes, the investor called the increase in daily transactions in the Bitcoin network and the achievement of the Bitcoin misfortune index (BMI) of 67. The last time this indicator of cryptoinvestors was recorded in August 2017
Lee also paid attention to the appearance on the chart of the price of the first cryptocurrency “bullish crosses” – the intersection of the 200-day moving average line with a shorter period.
A signal to the end of the bear market is the growth of activity on the OTC trading platforms by 60-70% compared with the indicators of four months ago.
Separately, Tom Lee stressed that a fairly calm community response to litigation with Bitfinex and Tether indicates that the market is growing up and its volatility has decreased.
Recall that in late April, Tom Lee expressed confidence that the cryptocurrency market had entered a growth phase .
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