Thomas Lee – The well renowned personality for his Bitcoin [BTC] price forecasts and the co-founder of Fundstrat Global Advisors in his recent ‘interview‘ with CNBC stated that he sees a Bitcoin bull mark returning within six months.
While mentioning further Lee, who ‘earlier‘ had aforesaid that he would stop giving out timeframes for a ‘worth rebound‘, earlier in Dec. last year – now claims that he see’s the market to make a U-turn within the upcoming month of August this year.
“I assume the key number to monitor is the 200-day moving average,” Explaining further, he told the network, adding:
“If Bitcoin [BTC] holds higher than $4,000 USD worth, it’ll cross its 200-day [moving average] by August, thus i feel the outside window is 5 to 6 months before Bitcoin [BTC] starts to seem technically like it’s back in a bull market.”
Referencing to the hard fork of Bitcoin Cash’s [BCH] earlier in mid-Nov., ‘Lee‘ added that, “I assume the damage that actually require to be repaired is that drop from $6,000 USD to $3,100 USD,” adding:
“I assume it’s extremely undermined capitalist confidence and therefore the dynamics around the market[.]”
As reported earlier, Bitcoin [BTC] had begun to deliver returns to investors through Feb., with avg daily hike of around 0.5 %. The number this month has however even shrunken, with daily numbers nearer to 0.2 %, leading some to assume a fresh bearish market downturn could be imminent.
Since peaking at incomparable highs of around $20,000 USD earlier in Dec, 2017, Bitcoin [BTC] has seen the longest bearish market trends within its history, with lows averaging around $3,100 USD.
Just earlier in Dec., fellow analyst Tone Vays stated an additional intense warning, ‘predicting‘ that the price of BTC/USD might even fall near to $1,000 USD before this bearish market trend finally see’s its end.