Co-founder of Fundstrat Global Advisors Tom Lee announced the end cryptogamy in one of the tweets. How does, the Consensus conference last week in new York was the thirteenth and final proof that we have finally survived this long and difficult period.
His chronology of events, pointing to a trend reversal, goes back to November 2018. Then a controversial hardwork and confrontation between the two camps forks of the Bitcoin Cash exhausted the supply of bitcoins in their mining pools. Lee also mentions the 23rd of January this year, when the number of transactions in the network of Bitcoin for the first time in 12 months has shown a rapid growth.
After a disturbing pullback to ~$6,200, #Bitcoin back >$8,000 further cementing the positive trend intact.
As we said a few weeks ago, Consensus 2019 @coindesk was to prove whether crypto winter is over…
— Thomas Lee (@fundstrat) May 19, 2019
On 27 March the confidence index for Bitcoin — metric introduced Fundstrat Global Advisors — exceeded by 67 points. This level was not in August of 2015. In April, we witnessed a surge in OTC trading, and activity in the blockchain. About the same period on the chart, Bitcoin has finally seemed to “Golden cross”, which was from October 2015. Tom Lee also drew attention to the fact that the market is almost not even slipped on the news about losing BTC to $ 850 million by the Bitfinex team.
See also: Waiting for halving: Bitcoin will rise to 10 thousand dollars by the beginning of 2020.
What will happen to Bitcoin next?
Lee has long been known for their optimistic predictions about the price of Bitcoin. On April 29 he again stated that by 2020 BTC will show a new historical maximum. Let’s hope that this time his predictions will come true.
If this Lee is not the only one who makes a bet for 2020. I agree with him a well-known Bitcoin bull John McAfee and Forbes journalist Clem chambers.
Such forecasts are connected not only with the planned alvingham reward per block, but with growing fundamentals of Bitcoin. And when do you think will happen next bullrun and new highs? Share your predictions in cryptodata of hontarov.
Subscribe to our channel in the Telegram. Here goes!