Tom Lee: No effect of the Tether [USDT] news signifies bear market is over
Tom Lee, the co-founder of Fundstrat global took to Twitter to announce his thoughts on the cryptocurrency bear market. According to him, the worst is over for Bitcoin.
If this tether #USD $USDT story broke in mid- to late-2018, the crypto market would probably seen panic liquidations across the board
Another sign crypto winter is ending? The fact that relative calm in crypto market despite tether news? @bitfinex @Bitfinexed
I think so…
— Thomas Lee (@fundstrat) April 30, 2019
He also mentions in the tweet reply that the most important asset in the cryptocurrency space is Bitcoin [BTC]. Tom Lee is famous (or infamous) for his bloated price predictions on TV. His latest price prediction expects Bitcoin to reach new all-time highs in 2020.
Tom Lee appeared on CNBC on Friday and making another prediction. But this time he gave 7 key reasons as to why Bitcoin’s price is going up.
The reasons include Bitcoin halving, trade volume near high, Bitcoin past is 200 days MA [Moving Average], Fundstrat’s Bitcoin Misery Index turns positive, Increase in BTC OTC trading, Consensus in the bottom is in, Bitcoin’s golden cross.
Tom Lee’s prediction has rarely been accurate. He predicted that Bitcoin will be racing $25,000 by the end of 2018, but in reality it fell short by a considerable margin.
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