Fundstrat Global Advisors Co-founder Thomas Lee: Bitcoin is back in a bullish trend

2 min read

Co-founder of Fundstrat Global Advisors Thomas Lee said Bitcoin (BTC) is back in a bullish trend during an interview with Bloomberg, published on April 5.

During the interview, Lee pointed out that Bitcoin's critics declared the cryptocurrency dead because it lost 90% of its value. However, it has now exceeded the 200-day moving average, reason why he thinks sentiment should change and that BTC is currently in a bull market. Lee noted that Bitcoin was in the back this year because the dollar did not get stronger and the multiplier of Chinese equity capital grew.

Lee also noted that there is evidence that the so-called whales – investors who own large amounts of cryptocurrency – have collected more crypto. He said:

"Many of them have been sold, early 2018, that is dry powder, they are starting to work on it."

As Cointelegraph reported in March, Thomas Lee told CNBC earlier that he thinks a bull mark can return within six months, with the indicator to keep an eye on is the 200-day moving average.

In February, Lee & # 39; s New York-based research firm Fundstrat Global Advisors published its 2019 crypto outlook, in which analysts describe incremental improvements that are reported to support higher cryptocurrencies prices.

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Don Bradman

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