Forget FUD, Fundstrats Tom Lee sees new pieces (BTC) by 2020

Lee explained that there are "1[ads1]1 characters" that only take place in the crypto bull markets, and some of them have recently been shown their faces. The analyst, who heads Fundstrat's research department, looks at core transaction volumes, which have apparently been positive on an annual basis. Bitcoin crossed its "big technical hurdle", the 200-day moving average, and a golden cross was formed just days later, and the upper hand (OTC) exchange has seen a rise in trading volumes. On the issue of the last point, he showed:

We investigated OTC brokers, who are very important for facilitating institutional investors, and they have all talked about an increase of 60% to 70% in activity / number of customers and trading volume per client. The foundation is better; The technicals are better and the activity of HODLers too.

This, in Lee's eyes, is a sign that BTC could start entering a state of "spring" after a brutal winter. He concludes that Bitcoin by 2020 is "likely" to see new full-time jobs last. But what will drive this move?

As Lee pointed out in past mainstream media and social media, the fact that "old puppies buy Bitcoin" as "many positive things happen" in the industry is signaling that $ 14,000 is fair for BTC.

He adds that the MSCI Emerging Markets Index pulled down BTC during 2018. Specifically, this specific index fell by 27% in 2018, when Bitcoin lost 70%. But with Fundstrat predicting emerging markets to surpass US stocks in 2019 and considering the apparent correlation, Lee wrote that if BTC "catches up" on macro markets, it could reach as high as $ 10,000 or $ 20,000.

Causes to Be Still Birch

However, some are confident that there are still reasons to be bearish on crypto curve as a whole. For example, the latest Tether and Bitfinex news, which showed that the two units are under investigation by the New York Attorney General's office of alleged "fraud", shows that this market remains nurturing at its best, meaning it may not be managed to see an influx of capital.

Techniques also don't look too big. Financial Survivalism recently explained that the latest measure in the TD Sequential and Relative Strength Index (RSI) indicators looks almost like the one seen at the beginning of December, but completely inverted.

If the story is followed, Bitcoin can therefore see a "long-term consolidation period", which can happen between $ 4,200 and $ 5,800. He adds that if BTC falls below its 50-day and 200-day exponential moving average (EMA) ) of $ 4,700, the golden cross will be considered invalid and set the stage for a potential move lower.

  Title Image Courtesy of Dmitry Moraine Via Unsplash