Topic: Bitcoin Price Breakout Scheduled for August, Says Fundstrat’s Tom Lee (Read 646 times)

but he wasn't just wrong about predicting the price he was ridiculously wrong and kept on insisting on his target price which at some point became too obvious is never going to happen.
i mean we have all made mistakes and will make them but every trader should be flexible in the market and change with it, if you stick to one trend and never give it up you will lose.

I don't advise myself to trust and expect these kinds of predictions but I find him that he had his researches before predicting it. But some of the people don't trust Thomas Lee and said that he is actually a liar.

Hey while last year he got it completely wrong I feel we should give him the benefit of the doubt, and hope that this time his predictions come right. I feel a poll would be a great idea, as we will get to know how many believe he’ll get it right this time. Also as we speak bitcoin prices have slowly but steadily began to rise above $4K levels, I feel if bitcoin prices can sustain these levels for few days then we may see $5k levels by May.

@cybersofts. Can you add a poll for this thread to survey and asking if Tom Lee should be followed this year or not hehehe? We laughed at him for a whole year on 2018, this might be the year for him to begin laughing at us.

@cybersofts. Can you add a poll for this thread to survey and asking if Tom Lee should be followed this year or not hehehe? We laughed at him for a whole year on 2018, this might be the year for him to begin laughing at us.

Fundstrat Global Advisors co-founder Thomas Lee broke with tradition about Bitcoin (BTC) price forecasts on March 14, telling CNBC he thinks a bull market could return within six months.

In an interview with the publication, Lee, who is well known as a Bitcoin bull — but said he would stop giving out timeframes for a price rebound in December — now claimed August could see a market U-turn.

“I think the key number to watch is the 200-day moving average,” he told the network, continuing:

    “If Bitcoin holds above $4,000, it’ll cross its 200-day [moving average] by August, so I think the outside window is five to six months before Bitcoin starts to look technically like it’s back in a bull market.”

Referencing Bitcoin Cash’s (BCH) contentious hard fork in mid-November, Lee stated, “I think the damage that really needs to be repaired is that drop from $6,000 to $3,100,” adding:

    “I think it really undermined investor confidence and the dynamics around the market[.]”

As recently reported, Bitcoin had begun to deliver returns to investors through February, with average daily increases of around 0.5 percent. The number this month has shrunk, with daily numbers closer to 0.2 percent, leading some to think a fresh bear market downturn could be imminent.

Since peaking at all-time highs around $20,000 in December 2017, Bitcoin has seen the longest bear market in its history, with subsequent lows averaging just above $3,100.

In December, fellow market analyst Tone Vays sounded a more intense warning, forecasting BTC/USD to fall to near $1,000 before bearish sentiment definitively ends.


Reference: https://cointelegraph.com/news/bitcoin-price-breakout-scheduled-for-august-says-fundstrats-tom-lee

Since peaking at all-time highs around $20,000 in December 2017, Bitcoin has seen the longest bear market in its history, with subsequent lows averaging just above $3,100.

Actually, prediction works a lot and quite reliable especially when done though technical and fundamental analysis, if we look at fiat currency, it been quite easy to predict the market because of the level of stability it has attained, crypto too would have been easy if not for the level of dumping that goes on in the market and that is why it seems like we have lots of prediction that has not come to pass but if we are to go by the way the system should fully operate, those predictions could have been right, but now that we are still in a volatile market, what can we do?

Nothing but to still continue helping the market with positive prediction whether real or not.

I like Tom Lee as a bitcoin bull but with his predictions, I'm not listening to him. Look at the comments of everyone here who's not impressed anymore with his predictions. We want the market to see its on good condition again and I guess this is just his way to attract the investors back.

Probably he's going to be right this time? or no? hehe. He should stop giving dates on when exactly the bull run will start because he's aware that it's nearly impossible to have that indication that bull run's about to start.

I wouldn't take too much thought into this prediction. Remember what happened last year?

Everybody assumed BTC would go back to ATH after the tax due date? It rallied for a month and then started heading back down again.

Same for the prediction that it would rally from $6K in Nov-Dec 2018 because its usually when BTC has a bullish move. Instead what happened? The complete opposite and it was a nasty crash. And the crash was nasty due to all the over leverage people who assumed it was the bottom and were wrong and unless you used 1x leverage, you would of been most likely liquidated.

Till date very few price predictions might have coincided with the reality. As in the quote as broken clock coincides with the right time in cryptospace too that can happen. Yesterday too some price predictions have come stating that the market price Wil reach ₹10000 by the fourth quarter of the year. As an user it is good to predict ourselves and stick to it. These predictions need to be considered as a boosting to stay active on cryptospace.

i thought he was done making predictions. say it ain't so, tom!

he's been the best contrarian indicator i've ever seen. i'm hesitant to stay too bearish for too long, but this prognostication from tom lee might have just delayed the bull market until at least december!

Seems like its more truthful now because we had already passed $4,000 and looking stability on this range,while Tom Lee is good in predicting yet I don’t take this one seriously because this might be another whale Trap

Im tired of those tricks when i become a victim once with their manipulation strategy.but of August brings us good enough reason then i woll consider buying with my assets on hand