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Bitcoin Price Breakout Scheduled for August, Says Fundstrat’s Tom Lee


In fresh comments, the famous Bitcoin bull said investors should eye the 200-day moving average price for hints at a trend reversal.

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 think the outside window is five to six months before Bitcoin starts to look technically like it’s back in a bull market.”

Referencing Bitcoin Cash’s (BCH) contentious hard fork in mid-November, Lee stated,…



Read Full Story : Cointelegraph.com News

2019-03-15 11:37:00

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