Financial analyst and co-founder of Fundstrat Global Advisors Tom Lee (Tom Lee) in an interview with CNBC said that the bearish sentiment on the bitcoin-bullish market will change within six months. The turning point, in his opinion, will occur in August.
“I think the key indicator, which is to follow is the 200-day moving average price. If bitcoin will remain at $4000, he crosses the 200-day (moving average price) in August, we have 5 to 6 months before technically it looks like bitcoin is back in a bull market,” he explained.
Today the price of bitcoin is $3966 per unit, its market capitalization is about $69,776733 billion and the daily trading volume of BTC has approached an annual high, exceeding $11 billion.
Recall that in December last year amid falling bitcoin exchange rate closer to $3000 in a letter to customers That Lee wrote that the fair price of BTC is based on the number of active cryptocell is much higher, and to climb, he needs to get more popular as an asset class. At the same time to make a price forecast, the analyst refused, explaining that he was tired of this question.