In line with a recent ‘official tweet‘ published, Fundstrat Global Advisors co-founder and renowned crypto market visionary named ‘Tom Lee’ has claimed that the crypto winter is finally over.
Within the message, Lee aforesaid that the last week’s Consensus conference held at New York was the latest of the 13 signs indicating that the ecosystem is finally recovering after several tough few months.
His timeline of events documenting the turnaround dates back earlier to the month in Nov. 2018, when a Bitcoin Cash [BCH] hard-fork battle exhausted the Bitcoin [BTC] supply managed by two rival mining pools.
While other vital milestones listed by Lee embody 23rd January of this year, when on-chain transactions turned positive year-on-year for the very first time within twelve months.
He conjointly pointed to how Fundstrat’s BMI [Bitcoin Misery Index] rose above 67 on 27th March – a watermark that had not been reached since August 2015. This was followed later in April by a surge in OTC [Over-the-Counter] trading as well as on-chain activity, in addition as BTC’s 1st bullish golden cross since Oct. 2015.
More recently, at the beginning of this month, Lee aforesaid that the crypto industry evidenced its resilience when there was a stable market reaction to the conflict. surrounding ‘Bitfinex Exchange’ and ‘Tether [USDT]’, when the New York Attorney General ‘accused‘ the cryptocurrency exchange of losing $850 Mln and then employing funds from the affiliated ‘stablecoin‘ operator to secretly conceal the shortfall.