Senior analyst at market strategy and sector research company Fundstrat Global Advisors Tom Lee is confident that Bitcoin (BTC) became a genuine safe haven for investors. When asked directly “whether Bitcoin is a genuine safe haven” during an interview on the Fox Business channel on Aug. 15, Lee confirmed his position: “Yes. You can see it in markets. Where there’s turmoil, the local Bitcoin prices tend to surge and trade at a premium, because people are trying to find ways to protect their money. So yes.” Bitcoin is a good diversification hedge Lee also added that Bitcoin has “done very …

Fundstrat Global Advisors co-founder Tom Lee believes that recent interest rate cuts in the United States by the Federal Reserve are a boon for Bitcoin (BTC). Lee remarked on how the rate cuts positively impact Bitcoin investment in an interview with Fox Business on July 31, saying: “Bitcoin’s becoming increasingly a macrohedge for investors against things that could go wrong. Rate cuts are adding liquidity. Liquidity is pushing money into all these risk assets and also hedges, which is helping Bitcoin.” Lee delivered a couple more general remarks about Bitcoin, which climbed back above the $10,000 mark earlier today. In …

Fundstrat Global Advisers co-founder Thomas Lee wrote that the recent Bitcoin (BTC) pullback is healthy in a tweet on July 14. In his tweet, Lee also addressed concerns over the recent decrease in Google searches for Bitcoin: “As for the search traffic for bitcoin being low, I also think that is a good sign. It means the rise in Bitcoin has not been accompanied by massive hype.” According to search analytics service Google Trends, Google searches for Bitcoin from within the United States have decreased by about 45% since their recent peak at the end of June. Google search data …

Fundstrat Global Advisers Co-Founder Thomas Lee suggested that bitcoin’s (BTC) volatility makes a long-term approach towards it more appropriate for most traders in a tweet published on June 27. In his tweet, Lee intended to remind others that “bitcoin is a hypervolatile asset” and that this makes it “great for volatility and other dedicated traders.” Still, he noted that most should probably use a different approach instead: “For most, taking a long-term view is more appropriate.” Lee’s remarks were an answer to a Bloomberg’s tweet pointing out that bitcoin is up 39% this week, but that it has lost over …

Coming every Sunday, the Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link. Top Stories This Week Four big reasons bitcoin’s price will probably not stop at $20K this time Bitcoin crossed $11,000 in under 24 hours after breaking the important level of $10,000 on Friday, ETH hit a 10-month high, while crypto markets see solid green by the end of the week. Cointelegraph explores the main factors driving the rally …

Bitcoin (BTC) set a new 2019 high on June 21, hitting $9,800 and firmly beating daily returns of almost all major cryptocurrencies. Market visualization courtesy of Coin360 Data from Coin360 put BTC/USD trading at around $9,675 at press time Friday after a minor correction from earlier highs. The performance further cements bitcoin’s bullish progress over the past three months, surprising investors once more after retaking the $9,000 mark this week. Monthly (30-day) gains for bitcoin investors now stand at 26.5%. Bitcoin 7-day price chart. Source: Coin360 Previously, commentators had begun forecasting a break to $10,000 would spark considerable demand among …

The Chicago Mercantile Exchange (CME) Group has released data showing that open interest in Bitcoin futures is rising, as per an official Twitter post on June 18. Interest in BTC futures over time: https://twitter.com/CMEGroup/status/1141015074062110721 According to CME, bitcoin (BTC) open interest spiked on June 17 with an all-time high of 5,311 contracts totalling 26,555 BTC, or approximately $246 million at press time. Futures are standardized contracts that bind a party to buying or selling some asset at a predetermined date. Notably, the CME group also remarked in the Twitter post that BTC futures appears to be gaining popularity with institutional …

Fundstrat Global Advisors co-founder Tom Lee said that bitcoin (BTC) could easily reach new highs during an interview with CNBC published on June 18. In his comments, Lee said that bitcoin is becoming the reserve currency of the cryptocurrency space, and noted that it has been worth over the $9,000 price level in only 4% of its history. Then, he declared: “I think bitcoin is easily going to take out its all-time highs.” Before making those price predictions, Lee also noted that Facebook’s Libra project is a validation of mainstream interest in cryptocurrencies. He also stated that he thinks this …

Fundstrat Global Advisors co-founder Tom Lee has claimed that the crypto winter is over in a tweet on May 19. In the message, Lee said last week’s Consensus conference in New York City was the latest of 13 signs indicating that the industry is recovering after a tough few months. His timeline of events documenting the turnaround dates back to November 2018, when a bitcoin cash (BCH) hard fork battle exhausted the bitcoin (BTC) supply held by two rival mining pools. Other significant milestones listed by Lee include Jan. 23 of this year, when on-chain transactions turned positive year-on-year for …

Top Stories This Week Fractional Reserve Stablecoin Tether Only 74% Backed by Fiat Currency, Say Lawyers According to documents released by USD stablecoin tether’s (USDT) lawyers, the company behind the stablecoin only has enough fiat reserves to back a little less than three-quarters of its existing supply — 74%. Tether executives had previously publicly promised that each tether was backed one-to-one to the USD, a claim that has been disproven by the lawyers’ document release. The need to release the figures comes from the recent claims by the U.S. attorney general in New York that cryptocurrency exchange Bitfinex, which shares …

On-chain transactions on the bitcoin (BTC) network hit fresh highs not seen since 2017 in April, industry newsletter Diar noted on April 30, quoting blockchain data provider TokenAnalyst. Continuing a trend that had already started at the end of March, on-chain transaction volume hit a 14-month high in April. This, Diar notes, is similar to the figure from June 2018, when the price of bitcoin circled $7,000. Far from reflecting increased real-world usage, however, the driving cause of the uptick remains trading and speculative moves. “On-chain value of both Bitcoins and US Dollar value continue to follow price trends indicating …

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 out of those 11 signs — blockchain, technical indicators and …