In line with a recent ‘interview‘ with Bloomberg, Thomas Lee – Renowned Bitcoin [BTC] visionary and Fundstrat Global Advisors co-founder stated that Bitcoin [BTC] is back again in an exceeding bullish trend.
Within the interview, Lee added that Bitcoin’s critics though said that the cryptocurrency is dead as it lost 90% of its worth. However, it has recently broken over its 200-day-moving-average, that is why he thinks sentiment has to change and that Bitcoin is presently in a bull market. Lee outlined that the recent hike for Bitcoin was formed this year, as dollar wasn’t strengthening and China’s equity multiplier has been growing.
Lee conjointly noted that there’s proof that the so-called whales – investors who hold quite major quantities of cryptocurrency – have started accumulating more and more cryptocurrencies once again.
Explaining further, he added:
“Alot of them already sold-out earlier in last year, that’s dry powder, they’re starting to put that to work.”
As ‘reported‘ earlier in March, Thomas Lee earlier told CNBC that he thinks a Bitcoin bullish mark might be returning back within six months, noting the indicator to keep a watch on is 200-day-moving-average.
Even in Feb., Lee’s New York-based analysis and research company Fundstrat Global Advisors ‘published‘ its 2019 ‘crypto‘ outlook within which the analysts describe progressive enhancements that will purportedly support higher prices for cryptocurrencies.