Tom Lee: “Bitcoin is in recovery”
Wall Street giant stated that the cryptocurrency is facing one of its best moments after suffering a 37% fall in July
One of the giants of Wall Street, Tom Lee, said Tuesday that bitcoin is beginning to recover ground in the world market.
Lee spoke of the indicators of the Bitcoin Misery Index (BMI), launched by his company and which states that if the cryptocurrency is below 27, it shows that the gains will be quite good, while if it exceeds 68%, it’s time to sell.
“The Bitcoin is not broken if it is held at these levels. I think people are afraid that it will go back down to six thousand dollars and never recover its value again,“ the expert explained.
Fundstrat also head of research, spoke of the domain that has the bitcoin currently after rising to 48% after experiencing a fall to 37% in July.
Lee also noted that the industry’s recent good news, such as the announcement by the Intercontinental Exchange (ICE) that it would develop a new digital asset platform, as well as the SEC position that bitcoin was not a value, would be a positive effect.
In the month of July, Lee had assured that by the end of this 2018 the cryptocurrency could be located at about 22 or 25 thousand dollars.
K. Tovar
Source: Coincrispy
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