Thomas Lee predicts bitcoin price hike in August
The co-founder of Fundstrat Global Advisors said in an interview that an explosion in the value of the cryptocurrency is expected in a span of 200 days
Thomas Lee, co-founder of Fundstrat Global Advisors and known as a price forecaster, said in an interview with CNBC that the price of bitcoin will “explode” by August.
With these statement, Lee has referred to an upward trend of the main cryptocurrency ecosystem in 200 days. With his words, the specialist stopped giving deadlines and ventured to indicate the date bluntly.
“If bitcoin holds more than USD4,000, it will go through its 200-day moving average in August, so I think the outside window is between five and six months before the bitcoin starts looking technically like it’s back in a market bullish,” Lee said.
The prediction of the co-founder of Fundstrat Global Advisors comes amid a bearish trend of bitcoin, which in March has shown an average reduction of 0.2%. This has caused fear among investors, leading them to think of a new dramatic fall in the market.
As will be remembered, it was December of 2017 when the cryptographic asset reached its historic maximum, reaching US $ 20,000. In December 2018, the market analyst Tone Vays’ prediction was catastrophic, meaning that the BTC would reach US $ 1,000 “before the bearish sentiment finally ends.”
M.Pino
Source: Cointelegraph
