Categories: News

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.

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.


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He joined the cryptocurrency space in 2017. He is the founder of Blockmanity. He is a HODLER and is holding BTC, ETH & UGT.

Share
Published by
Ishan Garg

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

2 months ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

3 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

4 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

4 months ago