Tom Lee, the co-founder and leading financial analyst of Fundstrat Global Advisors, has claimed in the interview with CNBC that Bitcoin trend will change to bull already in August of this year.
Despite the fact that in December of previous year Lee promised not to make forecasts concerning cryptocurrency market perspectives, he couldn’t hold and claimed that in 5-6 months reversal in market trends should happen.
“I think that 2019 is the year of Bitcoin recovery. Today on global markets the risks has significantly grown and this is positive factor for BTC and cryptocurrencies on the whole. Also, I would like to note that dollar doesn`t increase in such a way, as it was in 2018, what also adds points to cryptocurrencies. What is more, if we look at the technical indicator DMA200 (200-day moving average), we will see, that if Bitcoin keeps the level of $4000 till August of current year, its trend will change to bull and we will watch steady growth”, – Lee explained.
Important Event for Cryptocurrencies
Investment resource learned that the expert also mentioned some fundamental events, positive for cryptocurrencies. This is stablecoins` launch by leading global financial institutions, such as Mizuho and JP Morgan, and increasing popularity of cryptocurrencies in such problem states, as Venezuela.
Lee believes that all these events can raise public awareness concerning digital currencies, what will make humanity a step closer to the mass implementation of cryptocurrency. According to Lee, money evolution is confidently moving to the acceptance of cryptocurrency as an official asset class.