Tom Lee, co-founder of Fundstrat Global Advisors, in a conversation with CNBC, expressed confidence that the market had entered a growth phase, and also mentioned several factors indicating a continuation of the upward movement of the bitcoin price.
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) 25 April 2019 p.
According to him, at present the price of 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” is finally passed.
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 everyday 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.
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