The famous cryptocurrency bull and Bitcoin evangelist Tom Lee has been a guest in a new show, claiming that Bitcoin (BTC) is poised to surge despite the pessimistic view of many analyst. During a recent CNBC “Futures Now” episode, the Bitcoin bull Tom Lee claimed that Bitcoin’s fundamentals and technicals lead to the conclusion that the so-called “crypto winter” is finally over.
The head of research at Fundstrat Global Advisors also said that “crypto spring” might be on the horizon. Like him or not, the Bitcoin bull Tom Lee has always stuck with the most dominant cryptocurrency and despite some of his predictions which did not fulfil, he has always kept his head up high.
In the interview to CNBC which is featured in the latest cryptocurrency news, Tom Lee explained that last year was “terrible” for cryptocurrencies because of the “massive bear market.” However, he also mentioned the potential signs for the end of the crypto winter. Right now, the Bitcoin bull Tom Lee has 11 signs that “only take place in a bull market.”
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
Reposted on many best cryptocurrency news sites, Lee’s signs include blockchain statistics as some of the first reasons that BTC is still seeing constant use for its intended purpose. He also added that the long-standing Bitcoin bull Tom Lee looked to the fact that BTC has moved above and held on top of its 200-day simple moving average
Lee combined this with the fact that Bitcoin’s daily chart recently printed a golden cross which marked the 50-day moving average across the 200-day one. Lastly, the growth in trading activity in cryptocurrency markets – and OTC desks – was what the Bitcoin bull Lee thinks is a factor for a new rally.
As Lee explained:
“We surveyed OTC brokers, who are really important in facilitating institutional investors, and they’ve all talked about a 60% to 70% increase in activity/number of clients and trading volume per client. Fundamentals are improving; technicals are improving, and activity by HODLers too.”
All of this in mind shows that Bitcoin could potentially see new all-time highs by 2020, as the Bitcoin bull Tom Lee believes. However, when asked about future forecasts, Lee said that he wouldn’t make explicit ones after his previous influx of backlash.
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