Thomas Lee: 13 reasons why the crypto winter for Bitcoin is over
Home News Thomas Lee: 13 reasons why the crypto winter for Bitcoin is over
Marcus Misiak –
In a published yesterday Tweet Thomas Lee, head of research at Fund over explained joined Global and well-known “Bitcoin bull”, that the Bitcoin (BTC) bear market finally. For this purpose, Lee leads the 13 reasons why his company comes to this assumption.
The BTC price has finished the past week similar to how he started. Currently BTC is 7.961 USD and has recovered almost completely from the Friday Crash, as Bitcoin within a few hours to approximately 6,100 USD fell and just as quickly to 7,300 USD recovered. After the Bitcoin price over the weekend has once again approaching the $ 8,000 mark, and it seems that the setbacks have to forget the positive sentiment is stronger than ever on crypto market.
As some analysts noted, might be the 9,500 USD-brand the next price target, if the momentum we get. The positive mood has not but reached only Bitcoin but also Altcoins like Ethereum, BNB and Litecoin, both of which reached annual highs.
Thomas Lee has captured this positive sentiment as a reason to explain 13 reasons why the crypto winter is over. Below, you’ll find his reasons:
- The Bitcoin Cash Hash war between Jihan Wu (Bitcoin to Cash) and Craig Wright (Bitcoin SV) has come to an end and the end of 2018, many believe that he has triggered the decline of 6,000 to 3.150 USD.
- The Bitcoin Trust of Grayscale recorded a decline in the price premium over the BTC-the spot price on 5%, which means that a “capitulation” has taken place.
- The number of On-Chain transactions has developed over the previous year is positive and increases from year to year, so that it is assumed that the users are still not disappeared and, in fact, a growing adaptation takes place.
- The Bitcoin Misery Index (BMI) of the Fund, the 67 points mark exceeded met for the first time again. This is the highest value since June 2016, and might suggest that rising prices for Bitcoin are emerging. As Lee explains, the BMI only in the bull market to a value greater than 67.
- Bitcoin moved above its 200-day average. This is the first Time since March 2018, 13 months.
- This here is probably meant to be rather funny: “ParabolicTrav”, a die-hard crypto-COP, shows up after a seven-month break.
- Adamant Capital has published a report, according to which a large number of Hodlern begins to accumulate Bitcoin. This could indicate, according to the report, that the market has bottomed out . The indicator Bitcoin Unrealized Profit/Loss (BUPL) then showed that the crypto currency market is in a Phase of “hope” entry
- The Over-the-counter (OTC) volumes is greatly increased (60-70% in the past 4 months), which suggests a huge institutional interest.
- The On-Chain activities are greatly increased.
- Willy Woo has released a report of 20 Bitcoin long-term investors, and writes that even the “Bitcoi-bear” to believe in an end of the crypto winter.
- Bitcoins “Golden Cross” – the 50-day and 200-day Moving Average is an extremely bullish sign.
- A stable response of the Maktes on the recent Bitfinex/ Tether messages.
- The Consensus 2019 featured news confirm that the industry is still strong and in the development.
Featured Image: We Olzewski | Shutterstock