Bitcoin 

‘Realistically,’ Bitcoin Must Now Consolidate Yearly Gain: Tom Lee

Having made a big move at the start of 2019, Bitcoin (BTC) now needs to consolidate its gains, argues Fundstrat’s Tom Lee. In an Oct. 22 interview for BlockTV, Lee — a renowned Bitcoin bull, co-founder and Wall Street strategist at Fundstrat Global Advisors — said that the levels of ebullience back in July were signs of an overheated market. Summer heat When pressed as to the reasons for Bitcoin’s relatively tepid trading in the aftermath of its strong summer uptick, Lee argued against the notion that sluggish uptake of…

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Bitcoin 

Tom Lee: Bitcoin’s Price Moves in Tandem With S&P 500

Fundstrat Global Advisors co-founder Tom Lee has stated that Bitcoin (BTC) is positively correlated with the S&P 500 market index and is not a hedge against macro turmoil. Lee voiced his opinion during an interview with industry news outlet The Block published on Oct. 1. Bitcoin moves according to macro factors During the interview, Lee admitted that his opinion is unpopular given that many believe Bitcoin to be a hedge against macroeconomic turmoil. That being said, while he agrees that some crises can have a positive influence on Bitcoin’s price…

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Bitcoin 

Fundstrat’s Tom Lee Reminds Us of Bitcoin’s ‘Ten Best Days’ Rule

Fundstrat co-founder Thomas Lee tweeted a timely reminder against panic-selling on Sept. 28, reminding that the majority of Bitcoin (BTC) gains come in the ten best trading days of the year. In fact, excluding these ten best days, BTC is down 25% per year. Fundstrat’s ‘rule of 10 best days’ In any given year, the vast majority of gains in Bitcoin price come in just the ten biggest trading days, according to this rule. During the last bull market of 2017, price rose an incredible 1,136% in those ten days.…

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Bitcoin 

Bitcoin Price Catalyst Will Be S&P 500 New All-Time High, Says Tom Lee

Wall Street strategist and co-founder of Fundstrat Global Advisors Thomas Lee has argued that a strong macro outlook will provide the tailwinds for the next Bitcoin (BTC) bull run. In an interview for CNBC’s Fast Money on Sept. 13, Lee broke with the narrative that investors buy into Bitcoin to hedge macro risks — viewing the asset as a safe-haven asset or type of digital gold.  Instead, he argued that investors buy into the cryptocurrency when they feel optimistic about the wider economy, geopolitics and industry and traditional markets are…

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Bitcoin 

Bitcoin Price ‘Will Never Hit $50K’ Gold Bug Peter Schiff Tells Tom Lee

Bitcoin (BTC)price  will never make it to $50,000, gold bug and crypto skeptic Peter Schiff has claimed in the latest attack on the largest cryptocurrency. ‘This is hysterical’ In a social media debate on Aug. 20, Schiff, who is well known for his distaste for Bitcoin, said that gold would definitely reach $5,000 in the future.  Schiff was debating with Joe Kernen, the CNBC host who recently interviewed Bitcoin proponent and regular Schiff troll, Anthony Pompliano. “Prior the 2008 financial crisis, when I was still invited on CNBC, Joe was…

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Bitcoin 

Fundstrat’s Tom Lee Predicts New All-Time Highs for Crypto by 2020

Fundstrat Global Advisors founder Tom Lee has predicted that cryptocurrency prices will hit new historic highs by 2020. Lee delivered his comments during an interview with CNBC on April 28. In the interview, Lee forecasted that bitcoin (BTC) has not completed its upward movement and will likely reach new all-time highs around 2020 based on “11 signs that historically only take place in a bull market.” Lee thusly reiterated his previous prognosis made earlier this month, when he said that “a bull market is likely starting.” Lee explained that three…

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Bitcoin 

Tom Lee’s Bitcoin Misery Index Hits Highest Value Since 2016 in Possible Bull Signal

Wall Street strategist and co-founder of Fundstrat Global Advisors Thomas Lee revealed on April 11 that his “Bitcoin Misery Index” (BMI) recently hit its highest figure since June 2016. He suggested the data could be a good or a bad sign. The BMI — which Lee designed with the aim of informing investors of how “miserable” Bitcoin (BTC) holders are based on the coin’s price and volatility — reportedly hit a value of 89 on April 2. The Index assigns a value of 100 to positive sentiment and 0 to…

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Bitcoin 

Former IBM and Cisco Executive Tom Noonan to Join Bakkt as Chairman of Board

Kelly Loeffler, the CEO of institutional trading platform Bakkt, announced that former cybersecurity expert at IBM, Cisco and Endgame Tom Noonan will become the chairman of its board of directors. The development was reported in a Medium post published on March 29. Per the announcement, the founder, chairman and CEO of the Intercontinental Exchange (ICE) and chairman of the New York Stock Exchange (NYSE) Jeff Sprecher is also joining the board of directors of the company. Alongside him, the post further welcomes Softbank managing partner Akshay Naheta and managing partner…

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Bitcoin 

Bitcoin Price Breakout Scheduled for August, Says Fundstrat’s Tom Lee

Fundstrat Global Advisors co-founder Thomas Lee broke with tradition about Bitcoin (BTC) price forecasts on March 14, telling CNBC he thinks a bull mark could return within six months. In an interview with the publication, Lee, who is well known as a Bitcoin bull — but said he would stop giving out timeframes for a price rebound in December — now claimed August could see a market U-turn. “I think the key number to watch is the 200-day moving average,” he told the network, continuing: “If Bitcoin holds above $4,000,…

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Bitcoin 

Fundstat’s Tom Lee Says Fair Value of Bitcoin to Reach $150K Per Coin

Cryptocurrency bull and co-founder of Fundstrat Global Advisors Thomas Lee said that the “fair value of Bitcoin (BTC) is significantly higher than the current price,” Bloomberg reported on Dec. 13. In a note delivered on Thursday, the veteran market analyst reportedly said that Bitcoin’s fair value is between $13,800 and $14,800, considering the number of active wallet addresses, usage per account and factors influencing supply. Lee attributed the divergence to last year’s meteoric rise, a macroeconomic “meltdown” and treasury sales during initial coin offerings (ICOs). Lee stated: “In fact, working…

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