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Bitcoin (BTC) has been absolutely slammed over the past five days. Since passing above $13,000 for the second time this year on Wednesday, the cryptocurrency has been on a clearly downward-sloping trend. As of the time of writing this, Bitcoin sits at $10,600 — down by around 25% from its year-to-date high of $13,900.
Bitcoin hasn’t had the best week. After rallying past $13,000 for the first time in over a year, the cryptocurrency stumbled. Hard. After flirting with the $13,000 price point for all of some six hours, Bitcoin fell, tanking by $2,000 in the following day. In fact, as of the time of writing this, BTC sits at $11,800, basically flat on the day, but wayyyy down on the week.
Last week, Bitcoin was nursing a heavy hangover, which took hold of the cryptocurrency market after BTC hit and failed to break through $13,800. BTC was in the dumps, having lost 30% from its year-to-date high, and altcoins were doing even worse, with assets like Ethereum and Litecoin bleeding against the market leader.
It’s July 4th. You know what that means — fireworks, fireworks for Bitcoin (BTC) that is. According to a recent tweet from Thomas Lee of Fundstrat Global Advisors, the leading cryptocurrency may soon “see fireworks”, which, in the context of his Twitter timeline, suggests a strong move higher in the near future.
One of the big attractions to Bitcoin is its ability to bypass the banking system. The likes of doom monger, Nouriel Roubini, still bash BTC in favor of a largely unprincipled banking system where the top get richer at the expense of the bottom. Banks are far from infallible by nature, and the number of recent reports on money laundering scandals is on the increase.
Bitcoin and a large number of cryptocurrencies experienced a sharp crash after touching new price highs this year. On June 26, the price of bitcoin core (BTC) dropped from $13,850 to under $11,900 in less than an hour. BTC values against the USD continued to spiral on Thursday, dropping to $10,350 before recovering slightly. With more than $72 billion shaved off the valuation of the entire cryptoc...
The calls for a Bitcoin correction have been getting stronger. Talk of altseason has also started to intensify as many expect the daddy of crypto to take a breather sooner or later. Altcoins have generally been battered during this recent digital gold rush but that could all change if BTC pulls back.
The bitcoin price has surged to a new 2019 high once again at $11,381 less than 24 hours after climbing to $11,200 on June 24. Analysts like Fundstrat’s Thomas Lee, RT host Max Keiser, and technical analyst Peter Brandt foresee the bitcoin price reclaiming its all-time high at $20,000 in the near term as the dominant crypto asset continues to see its momentum strengthened. Where is the ceiling for...
By CCN Markets: On major crypto exchanges in the likes of Bitstamp and Coinbase, the bitcoin price has achieved a new 2019 high at $10,915 in an overnight rally. As the bitcoin price surpassed the $10,000 mark, a level that has been regarded as a key psychological level by prominent investors and analysts including Tyler Winklevoss and Thomas Lee, the sentiment around the near term trend of the cr...
Only yesterday Bitcoin bulls were triumphant that the king of crypto had broken resistance and was heading for five figures again. A few hours ago BTC made it to $10k but it didn’t just stop and hold there. A surge of over 10% took Bitcoin to over $10,900 during the Asian trading session this morning.
A survey of fund managers, conducted by Bank of America Merrill Lynch, found pessimism at a level not seen since the last financial crisis. The on-going trade war and the expectation of an incoming global recession are driving fears of an economic collapse, which may strengthen the image of bitcoin as an uncorrelated asset.
By CCN Markets: Speaking to CNBC’s Futures Now, Fundstrat co-founder and head of research Thomas Lee said that considering the momentum of bitcoin, the dominant crypto asset is likely to take out its all-time high very soon. “Well, you know I think bitcoin ultimately becomes a reserve currency in crypto, bitcoin at $9,000 has only been at this level in four percent of its history. We’re deep into ...
By CCN Markets: With all of the crypto attention currently centered on Facebook’s Libra cryptocurrency, bitcoin could be gearing up for its best run to date. Fundstrat Co-Founder Thomas Lee believes that it is headed much higher in the near future, predicting that a fear-of-missing-out, or FOMO, will catapult the bitcoin price to $40,000 sooner than later. According to a Bloomberg report, Fundstra...
While the crypto industry was hit with a string of bad news, Bitcoin (BTC) has rallied hard over recent days. As of the time of writing this, the leading cryptocurrency is valued at a cool $8,800 per coin, with bulls managing to wrest BTC from the grasps of a correction, which brought the asset to $7,450 last week.
Tom Lee remains bullish and does not stop sharing his optimistic vision about the future of Bitcoin. In a recent interview with Binance CFO, Wei Zhou for the exchange’s official podcast, the founder of Fundstrat Global Advisors once again gave one of his famous bullish predictions – perhaps the most optimistic of all:
Bitcoin has been on a 174 days bull rally since the low of Dec. 15, 2018, when it was trading at $3,150, which has seen its price surge 188 percent reaching $9,070 on May 30. According to some analysts and investors, the upswing may be partially be attributed to the financial crises affecting the world’s biggest economies, which is fueling excessive optimism in the cryptocurrency industry. As the ...
By CCN Markets: The bitcoin price might have slipped below $8,000 for now, but it could be headed much higher in the near future. Fundstrat Global Advisors Co-Founder Thomas Lee is willing to put it on the line for bitcoin once again, making an aggressive short-term prediction on where the cryptocurrency could be trading if it can capture enough momentum. In an interview with Binance CFO Wei Zhou,...
Recent data revealed that every time Bitcoin has seen a pullback of 30 percent or more, it was always followed by a sharp rally. The world’s largest cryptocurrency gains, on average, 153 percent after every price drop, meaning that there will still be plenty of buying opportunities even in the bull market.
During the bull run of 2017, Bitcoin’s price jumped from $8,000 to over $10,000 in 11 short days. The momentum continued to accelerate, with the coin only taking 8 days to jump from $16,000 to $18,000. Seeing how Bitcoin currently hovers around the $8,000 mark, many believe its value could catapult to 2017 highs in much the same way.
Over the past six weeks, Bitcoin dominance has surged from 53% to 58% (according to TradingView), catching many traders with their pants down. This comes as investors and analysts such as Fundstrat Global Advisors’ Thomas Lee, who frequents CNBC to convey his thoughts on cryptocurrency, have hinted that the fabled “altseason” in on the horizon.
By CCN: The stock market still has more runway for gains despite the trade war. Fundstrat Co-Founder Thomas Lee is doubling down on his year-end target of 3,100 for the S&P 500, which reflects gains of 9% from where the index hovers today. The S&P 500 has already climbed 14% higher year-to-date, and but the mood in the market has felt more like “doom-and-gloom” than “to the moon” as a result of th...
The Bitcoin (BTC) bulls have done it. They have entirely shaken off last week’s flash crash, which saw BTC plummet to $6,100 on Bitstamp and $6,500 on other major exchanges. With this strong rebound, which came after a period of ranging between $7,000 and $7,300, analysts have adjusted their outlook to the new conditions.
By CCN: Year-to-date, the bitcoin price has surged by 113 percent in a stunning recovery, achieving $8,000 in merely six months after plunging to $3,150 in December 2018. As said by Thomas Lee, a co-founder at Fundstrat Global, bitcoin has historically tended to record most of its gains in a short time frame, typically in a 10-day window, unlike traditional assets and asset classes. 2/ Reminder th...
There is no doubting that Bitcoin and crypto markets have been on fire recently. Since the beginning of April Bitcoin has almost doubled in price driving market capitalization back over $200 billion again. The ice from the crypto winter appears to have melted and some industry analysts are convinced it is now definitely over.
That’s right, according to Fundstrat Global Advisors, the Bitcoin (BTC) bear market is finally over. In a tweet posted Sunday, Thomas Lee, Fundstrat’s resident crypto cheerleader and head of research, revealed his firm’s 13 reasons why he believes that the “crypto winter” has gone kaput. The most recent of these being that BTC “disturbingly” dropped to $6,200, then skyrocketed to hit $8,200.
Bitcoin is back. While BTC has slowed over the past 12 hours, falling to $7,700 after a rally to $8,350 on Coinbase, the market still looks extremely bullish in the eyes of many prominent analysts. In a Twitter post released Tuesday, Willy Woo, a well-known researcher, technical analyst, and statistician, noted that throughout Bitcoin’s ten years as a tradable asset, a single trend has always resu...
Back in the build up to the massive bull run at the end of 2017 Bitcoin and altcoin markets were inversely correlated. One would surge at the expense of the other as traders switched between the two assets. Now that we have so many stablecoins to choose from, that correlation should have diminished but today it is as strong as ever.
By CCN: As Donald Trump and China continue to play Russian roulette with the global economy, the Dow Jones Industrial Average is doing just fine, thank you. Fundstrat Co-Founder Thomas Lee is an uber-bull, both in the stock and crypto markets. So for him to suggest that recent stock market declines from the highs represent a chance to buy isn’t overly shocking. He told CNBC: “I think investors sho...
Amid its freshly inflamed clash with the office of the Attorney General of New York (NY AG), cryptocurrency exchange Bitfinex is apparently moving full steam ahead on an exchange token offering to help sidestep $850 million USD in funds that were reportedly seized by U.S. and European officials in 2018.
By CCN: Fundstrat Co-Founder Thomas Lee has been covering the stock market for longer than he’s been analyzing bitcoin. And while crypto has been a tough nut to crack, he’s got a pretty good track record with stocks. Lee’s scorecard bodes well for his latest prediction that the S&P 500 index will reach 3,125 by year-end, which is higher than his previous forecast of 2,925. So why so bullish? For o...
On Tuesday, the crypto asset market began to move higher, shocking many investors across the board. As of the time of writing this, Bitcoin (BTC) is trading at $5,380, posting a 2.81% gain in the past 24 hours. Most altcoins, like Ethereum, are up even further, with Litecoin flouting a hefty 7.26% 24-hour rally. Even Tether is looking green, with USDT posting a 0.5% gain.
Over the past week, altcoins (crypto assets other than Bitcoin) have begun to slip. In fact, as of the time of writing this, Bitcoin dominance is sitting at a casual 54.4%, the highest this figure has read since mid-December, when BTC was in the midst of the capitulation to the low $3,000s. This recent altcoin action is starkly contrasted by the jaw-dropping rallies we saw in digital assets such a...
The bitcoin price is down over 74 percent from its record peak near $20,000. But that has not deterred institutional investors from strengthening their bullish positions in the market. The sentiment has led the world’s largest crypto asset investment firm to notch a record capital inflow this week.
After another Tether (USDT) related scandal triggering a mini-crash, Brian Kelly, the CEO of a digital investment firm BKCM LLC says he is a crypto optimist. As an experienced analyst who is “generally right about 60 percent of the time“, his outlook is upbeat and is sensing opportunity despite repeated challenges. With this, the “The Bitcoin Big Bang — How Alternative Currencies Are About to Cha...
By CCN: Not everyone is convinced that Bitcoin’s highly-touted “golden cross” is a bullish signal for the world’s largest cryptocurrency. Almost 25% of Crypto Investors Believe Golden Cross is Bearish for Bitcoin According to a Twitter survey conducted by crypto bull Thomas Lee, 24% of Crypto Twitter inhabitants believe that the signal, which typically hints at a bull run ahead, is a trap and that...
All eyes may be on Bitcoin (BTC), but other crypto assets have seen their fair share of gains since the start of 2019, sparking calls that what is known as “altseason” is here. This would seemingly be the case. Binance Coin recently surpassed its all-time high, in a brutal bear market no less, as Litecoin has rallied by over 200% since December’s low. Cardano, Ethereum, Tezos, and Basic Attention ...
Crypto warlord John McAfee has been making waves from his yacht in the Bahamas recently. He claims to have spoken with the elusive Bitcoin creator Satoshi Nakamoto and has threatened to reveal his identity. Several in the industry have already commented on the negative impact this may have on Bitcoin and crypto prices.
The break of the $4,200 resistance level represented a pivot point for bitcoin. Many respected analysts believe the bottom is in for BTC, while a few others predict it could sustain more losses. Whether the former or the latter is right, it’s noticeable that optimism is growing among investors as the market continues to surge—the perfect conditions for a bull trap.
Fundstrat’s prominent head of research, Tom Lee, recently took to Twitter to remark that one of the “pre-conditions” for historical altcoin rallies is coming to life in the current cycle. This precursor, for those unaware, is a drop in the correlation between the crypto asset class at large and Bitcoin (BTC) itself.
All eyes may be on Bitcoin (BTC), but other crypto assets have seen their fair share of gains since the start of 2019, sparking calls that what is known as “altseason” is right on the horizon. Per one prominent industry analyst, this cyclical industry event, which sees altcoins dramatically outperform the de-facto cryptocurrency lead, may actually be live as we publish this.
After picking up some steam this past Sunday, Bitcoin was able to approach the $5,200 level before dropping slightly. Although the previous drop – which sent BTC reeling back towards the lower-$5,000 region last week – seemed to mark the end of the surge, it now appears that the markets have further room to climb before they face any significant resistance levels.
The Mayer Multiple, a measure conceptualized by diehard Bitcoin investor and evangelist Trace Mayer, seems to be signaling that BTC might have bottomed. As explained by analyst Crypto Kea, the multiple, which weighs the price and 200-day moving average (key support/resistance), recently passed 1.0 after falling to 0.51 on December 14th.
From April 11 to 12, within a two-day span, the Dow Jones experienced a recovery from 26,062 points to 26,412 points, by 1.34 percent. Throughout early April, the Dow Jones had struggled to show momentum above the mid-25,000-point level, possibly due to the lack of clear stimuli for short-term growth and the uncertainty surrounding the trade talks between the U.S. and China. As said by Thomas Lee,...
Thomas Lee, the co-founder of Fundstrat Global Advisors, has tweeted that the Bitcoin Misery Index (BMI) is at 89. Developed by Lee as a trading tool for investors, the current BMI value signifies a “happy” sentiment in the markets. However, according to Lee, BMI measures above 67 see a sell-off, triggering a drop in Bitcoin price. With this in mind, is a price crash imminent?
While bitcoin hovers near its highest price in months, you may not have noticed a big move in Fundstrat Global Advisors’ Bitcoin Misery Index. Fundstrat head and perma-bull Thomas Lee tweeted the news on April 11: The Bitcoin Misery Index reached 89 on 4/2. Highest reading since June 2016. Means good and bad. Good–> Since 2011, BMI >67 only seen during $BTC bull markets. More evidence bull startin...
Fundstrat’s Tom Lee, a Bitcoin (BTC) permabull, has taken to public forums again to explain why he believes that worst is in for cryptocurrency market. In a tweet posted Thursday, the Fundstrat head of research claimed that his firm’s proprietary aptly-named Misery Index, which weighs an array of factors to find out Bitcoin investor sentiment, reached a reading of 89 (very happy) on April 2nd, whi...
With Bitcoin (BTC) recently surmounting $5,000 in a move that came straight out of left field, some are sure that bears are done. Jonathan, a forex and cryptocurrency trader, however, recently explained that it would be unfair to assume that the bear market is over. In fact, in a recent Twitter post, he seemed to hint that proclaiming a bear trend over is irresponsible.
On Squawk Box, Fundstrat Global Advisors head of research Thomas Lee said that despite the 16-month correction, bitcoin is en route to a steady accumulation phase throughout 2019. In the past 24 hours, the bitcoin price experienced a roughly 2.7 percent recovery following a slight pullback, climbing to $5,055 and leading a nearly $8 billion crypto market recovery. The slight retrace came after an ...
After a monumental 72 hours, Bitcoin (BTC) has slightly weakened. On Thursday, the asset fell from a $5,300 multi-month high to $4,800, as bulls failed to maintain the buying pressure. As of the time of writing this, BTC sits at $4,900, posting a 7% loss over the past 24 hours. Most altcoins are hurting a tad worse, posting daily losses in the double-digit percentages.
While many mainstream media outlets recently addressed the crypto industry with overt skepticism and seeming misunderstandings, with Gizmodo recently bashing Bitcoin’s power draw, this market has continued to push higher. As of the time of writing, Bitcoin (BTC) is slated to enter its second day of rallying strongly — the asset’s first clearly bullish streak since late-December 2018.
For some reason or another, investor sentiment has begun to turn decidedly positive in the cryptocurrency market. Tom Lee, the co-founder and head of research at Fundstrat Global Advisors, added to this influx of hopium-laced messages through a piece of analysis he pushed to his Twitter following, many of which are embroiled in all things Bitcoin.
The bitcoin price is holding above $4,000, today’s fractional declines notwithstanding, and the bullish price predictions are back. Michael Novogratz of crypto merchant bank Galaxy Digital is the latest voice to come out of crypto hibernation and tell it as he sees it. Novogratz is calling the market bottom days after Fundstrat’s Thomas Lee issued his latest bullish outlook for the BTC price. Novo...
Fundstrat Global Advisors has been a bullish voice in the crypto market. Its latest crypto outlook has taken a positive tone on cryptos, but it doesn’t see a big rally on the horizon. Even though cryptos are far more popular today, there still isn’t a big push at an institutional level to get involved in the market.
While 2018’s lethargic crypto market crawl has continued into early-2019, save for Friday’s sudden buy-side influx, analysts have begun to express optimism. Case in point, Fundstrat Global Advisors, a New York-headquartered investment advisory outfit, expressed why the outlook for Bitcoin and other cryptocurrencies could improve over 2019.
They came in plenty, some a little conservative and others outright ambitious. There were those who predicted that Bitcoin would hit $20,000 even before the year ended. Others went long term, predicting as high as $1 million in 2020. While the long-term predictions could still come to pass, those who made predictions for the year missed the mark greatly. With three days to go before we bid 2018 go...
Exactly one year ago, the price of bitcoin had reached its all-time high – at almost $20,000 – that paved the way for some enthusiastic bullish calls. Mike Novogratz, a former Goldman Sachs official, predicted that the digital currency would touch the $40,000-mark. Fundstrat CEO Thomas Lee said bitcoin would establish a new high at $25,000. Some analysts even predicted that it would overreach its ...
Calls for a much higher Bitcoin price have been less frequent this year. While it was easy to find Bitcoin bulls last year, 2018 has been hard on crypto optimists with a short-term time horizon. Fundstrat Global Advisors’ Thomas Lee is still calling for much higher Bitcoin prices and thinks its “fair value” is somewhere around $13,800 and $14,800 USD.
Many market oracles are likely to miss their Bitcoin price predictions for the end of 2018. For example, outspoken market soothsayer Thomas Lee said Bitcoin should be trading at nearly four times its current price while going quiet on his long-lasting $25,000 forecast for the end of the year. Many other alleged experts in the space have made similar predictions.
With the Holiday season in high gear, we have less than 3 weeks till we usher in the new year of 2019. Many individuals across the globe are probably decorating their Christmas trees and planning on how they will meet up with loved ones in the next few days as well as for New Year’s celebrations. Many crypto traders and enthusiasts, had hoped that by the end of 2018, Bitcoin (BTC) and other popula...
On the 26th of October, Ethereum World News notified its readers of the expiration of Bitcoin (BTC) Futures contracts offered by the CME Group. The BTC Futures contracts were expiring on the same day at 4pm London Time. Some traders have also put forth the idea that they usually expire at 4pm GMT. The difference between the two time zones is one hour but we can observe from this past Friday, that ...
October 26th might be one of the most significant dates in the crypto calendars this year due to an event might catalyze a trend reversal in the crypto markets. The crypto markets have been on a free fall since February when news of banning crypto trading in China and South Korea hit the crypto-verse. A few months prior, and on December 17th, the CME Group had launched Bitcoin (BTC) Futures contra...
The battle for privacy is ramping up. Every day, in the cryptocurrency space, we learn of increased blockchain surveillance, countered by the efforts of privacy protocol developers. We’ve got stories from both sides of the divide in this episode of The Daily, plus a “bitcoin mansion” that’s up for sale.
It’s been a wild year for cryptocurrency prices thus far, exemplified by the meteoric rise and subsequent crash of granddaddy Bitcoin. After cresting a high of more than $19,000 in December, Bitcoin’s price tumbled down to less than $6,300 in early February. Since then, it’s vibrated at a relatively low range while the market as a whole made several false starts.
Analysts are always seeking new ways to assess cryptocurrencies. Different metrics provide insights that can be used to gauge various trends, such as estimating when a particular asset has bottomed out and is due to rise. The Altcoin Correction Index provides an unvarnished snapshot of this year’s worst performing cryptos.
Following weeks of sustained positive price action, bulls finally ran out of steam on Wednesday, as prices throughout this budding market fell by upwards of 10% within hours. Altcoins unarguably had it bad, but a well-known analyst claims that the subset of crypto assets could potentially see a substantial boom in the coming months.