Topic: Tom Lee said Bitcoin Misery Index Never Been Reported in Bear Market - page 2. (Read 315 times)
April 21, 2019, 06:05:06 PM
I think whales are starting to accumulate more BTC now since they are seeing the start of market recovery and the bull-market just sitting around the corner. A lot of people are bullish when they speculate about bitcoin. I don't actually care if the bull market won't happen soon as soon as we can see progress in the market even at a slow pace.
April 21, 2019, 04:23:12 PM
We are not in the bull market. Also, we are not in the bear market. We are somewhere in the middle and from this point, we will only have a bull market in the near future.
Halvening will support that too... My prediction (and also time trend says that too) is the bull market will start in 2-3 months. In a year, a mega-bull market will start sometime around November 2020.
Halvening will support that too... My prediction (and also time trend says that too) is the bull market will start in 2-3 months. In a year, a mega-bull market will start sometime around November 2020.
April 21, 2019, 03:59:23 PM
Why would anyone listen to this person? Usually wrong and by a lot. Never trust predictions about the future of cyrpto from any one person or group.
April 21, 2019, 03:07:52 PM
Tom Lee was overly optimistic last year, but his long-term bullishness is warranted. The price of bitcoin just happens to be extremely difficult to predict given that it is a new asset just starting to define itself. I agree with him that more likely than not we are in a bull market with the price above the 200 DMA.
April 21, 2019, 02:59:39 PM
Fundstrat Global Advisors founder Tom Lee pointed out that the value currently reported by his company’s bitcoin sentiment indicator Bitcoin Misery Index has never been seen in a bear market.
During the interview, Lee noted that through 2018, the BMI has not been over 50, while it now recently touched a value of 89. According to Lee, values over 67 have never taken place in a bear market.
He concluded: “It means that a bull market is likely starting.”
According to Lee, there are various reasons for the recent trend inversion in the crypto market. For instance, he mentioned that old and wealthy bitcoin wallets have recently started adding BTC, and that transaction activity has begun increasing along with crypto exchange volumes.
Tom Lee: “Bitcoin Can Retain Its Old Highs” Interview: https://youtu.be/uv9fyNAbVBo
Full News Source: https://cointelegraph.com/news/fundstrats-tom-lee-current-bitcoin-misery-index-never-been-reported-in-bear-market
During the interview, Lee noted that through 2018, the BMI has not been over 50, while it now recently touched a value of 89. According to Lee, values over 67 have never taken place in a bear market.
He concluded: “It means that a bull market is likely starting.”
According to Lee, there are various reasons for the recent trend inversion in the crypto market. For instance, he mentioned that old and wealthy bitcoin wallets have recently started adding BTC, and that transaction activity has begun increasing along with crypto exchange volumes.
Tom Lee: “Bitcoin Can Retain Its Old Highs” Interview: https://youtu.be/uv9fyNAbVBo
Full News Source: https://cointelegraph.com/news/fundstrats-tom-lee-current-bitcoin-misery-index-never-been-reported-in-bear-market
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