Tom Lee named 13 signs of the end of the “crypto winter”
Among others, Lee draws attention to the fall of the overpayment on the securities of the investment bitcoin trust Grayscale to 5% in December – the lowest value since the beginning of 2017 of the year, historically a commemoration of “surrender”. “Since those since overpayment increased up to 41% “, – adds is he.
March 27 the value of the poverty index bitcoin, developed company Lee and indicating how pathetic cryptocurrency at a particular moment time, exceeded 67 for the first time since August 2017. “Since 2015, BMI has never was above 67 on bear market, ”explains Lee.
In mid-April, OTC trading volumes began to grow. “Numerous OTC brokers reported that activity clients increased by 60-70% relatively Togo, what they are seen 4 months ago. Many accounts began to accumulate bitcoins again, “adds the analyst.
Among other things, Lee mentions various technical indicators and publications of prominent figures in the cryptocurrency space, which underpin him point of view.
The final confirmation of the end of the “crypto-winter”, according to the co-founder of Fundstrat, was the Consensus 2019 conference, held last week in new york.
In December when bitcoin bargained below $ 3,500 Lee stated, that the market is unfairly valuing the largest cryptocurrency. According to his calculations, the bitcoin rate at that moment should have been between $ 13 800 and $ 14 800.