Fundstrat Global Advisors founder Tom Lee pointed out that the value currently reported by his company’s bitcoin (BTC) sentiment indicator Bitcoin Misery Index (BMI) has never been seen in a bear market. Lee made his comments during an interview with Cointelegraph published on April 19. During the interview, Lee noted that through 2018, the BMI has not been over 50, while it now recently touched a value of 89. According to Lee, values over 67 have never taken place in a bear market. Lee concluded: “It means that a bull market is likely starting.” Still, he also explained that when …

Wall Street strategist and co-founder of Fundstrat Global Advisors Thomas Lee revealed on April 11 that his “Bitcoin Misery Index” (BMI) recently hit its highest figure since June 2016. He suggested the data could be a good or a bad sign. The BMI — which Lee designed with the aim of informing investors of how “miserable” Bitcoin (BTC) holders are based on the coin’s price and volatility — reportedly hit a value of 89 on April 2. The Index assigns a value of 100 to positive sentiment and 0 to outright misery. Historical BMI chart 2011-2019, with Tom Lee’s analysis. …

Fundstrat Global Advisors co-founder Thomas Lee said that Bitcoin (BTC) is back in a bullish trend during an interview with Bloomberg published on April 5. During the interview, Lee pointed out that Bitcoin’s critics declared the cryptocurrency dead because it lost 90% of its value. However, it has now broken over its 200-day-moving-average, which is why he thinks sentiment has to change and that BTC is currently in a bull market. Lee noted that a tailwind for Bitcoin formed this year because the dollar wasn’t strengthening and China’s equity multiplier has been growing. Lee also noted that there is evidence …

Fundstrat Global Advisors co-founder Thomas Lee broke with tradition about Bitcoin (BTC) price forecasts on March 14, telling CNBC he thinks a bull mark could return within six months. In an interview with the publication, Lee, who is well known as a Bitcoin bull — but said he would stop giving out timeframes for a price rebound in December — now claimed August could see a market U-turn. “I think the key number to watch is the 200-day moving average,” he told the network, continuing: “If Bitcoin holds above $4,000, it’ll cross its 200-day [moving average] by August, so I …

New York-based research company Fundstrat Global Advisors has released its 2019 crypto outlook on Friday, Feb. 8. The analysts describe incremental improvements that will purportedly support higher prices for cryptocurrencies. Tom Lee, Fundstrat’s co-founder and pro-crypto Wall Street analyst, commented on the study in his Twitter. He posted an introduction to the study and infographics that trace key market tendencies from 2017 to now. “We see 9 incremental improvements in the landscape that ultimately support higher prices,” Lee’s tweet states. The preview of the introduction chapter provides a brief assessment of 2018, which, according to Fundstrat, has brought a lot …

The world of cryptocurrencies is full of prophets and predictions of all ranges, just as any other financial market in the world. 2018 jumped right in with Bitcoin (BTC) hovering around $15,000 and investors being far too optimistic about the future of digital currencies. Some of the premonitions — especially related to BTC’s price by the end of the year — never came true, but many turned out to be quite realistic. Let’s take a look back at all of those hopes and fears. Predictions that went wrong Tom Lee: BTC will reach $25K Seems that one of the world’s …

Cryptocurrency bull and co-founder of Fundstrat Global Advisors Thomas Lee said that the “fair value of Bitcoin (BTC) is significantly higher than the current price,” Bloomberg reported on Dec. 13. In a note delivered on Thursday, the veteran market analyst reportedly said that Bitcoin’s fair value is between $13,800 and $14,800, considering the number of active wallet addresses, usage per account and factors influencing supply. Lee attributed the divergence to last year’s meteoric rise, a macroeconomic “meltdown” and treasury sales during initial coin offerings (ICOs). Lee stated: “In fact, working backwards, to solve for the current price of Bitcoin, this …

BlockShow Asia 2018 has come to an end in Singapore Thursday, Nov. 29, with most visiting experts predicting that cryptocurrencies and blockchain will fare better in 2019. According to the BlockShow team, 2,800 people attended the two-day conference, including potential investors who participated in EXP20 — a business pitch competition for startups announced shortly before BlockShow Asia. More than 50 speakers from various crypto and blockchain projects participated in the event’s discussion panels. On the first day, experts discussed the Chinese crypto ban, decentralized networks for artificial intelligence (AI), and blockchain technology’s impact on ecology and gaming sector. Alexandre Dreyfus, …

The current bear markets are the “golden time” to be in crypto, major Wall Street crypto bull and co-founder of Fundstrat Global Advisors Tom Lee said Wednesday, Nov. 28, during his speech at BlockShow Asia 2018. Fundstrat’s co-founder named three main reasons behind the recent crypto market collapse: Bitcoin Cash’s (BCH) contentious hard fork, the regulatory actions of the U.S. Securities and Exchange Commission (SEC) forcing Initial Coin Offerings (ICO) to return funds to investors, and the “terrible” condition of global markets, which have dropped by approximately 10 percent in October and November. However, the investor refused to change his …

Despite the present market crash, major Wall Street crypto bull Tom Lee has reiterated his recently reduced year-end price prediction for Bitcoin (BTC) at $15,000 in an interview with CNBC’s Squawk Box on Tuesday, Nov. 20. In the recent statement, the head of research at Fundstrat Global Advisors pointed out two major types of crypto players — those who are “using it and have wallets in crypto,” and those who belong to a speculative side of the market. According to Lee, those two sides of the crypto community should find a way for “sort of interacting with each other” for …

Wall Street analyst and cryptocurrency bull Tom Lee has nearly cut his end-year Bitcoin (BTC) price target in half from $25,000 to $15,000, CNBC reported Nov. 16. According to Lee – the co-founder of market advisory firm Fundstrat Global Advisors – the key factor behind his new target is Bitcoin’s “break-even point,” or the level at which the cost to mine Bitcoin matches its trading price, as CNBC reports. According to Fundstrat’s data, this point is at around $7,000. Bitcoin is currently trading well below this value – $5,550 at press time. According to CNBC, however, Lee told clients in …

Fundstrat Global Advisors’ Bitcoin (BTC) analyst Tom Lee said that he is “pleasantly surprised” by the recent stability of BTC in an interview on CNBC’s Squawk Box Oct. 29. Lee expressed surprise at Bitcoin’s recent behavior given a recent 9 percent slump in equity markets. Lee said he expected that “Bitcoin volatility should be much higher” based on “how small Bitcoin is in terms of market cap.” When asked whether the current period of stability is “a good point to get in” for those wishing to enter the cryptocurrency space, Lee answered in the affirmative, as “Bitcoin seems to find …