Tom Lee, co-founder of Fundstrat Global Advisors, mentions 13 signs of a bullish trend returning to the cryptocurrency market.
After a disturbing pullback to ~ $ 6200, #Bitcoin back> $ 8000 further cemented positive trend intact.
As we said a few weeks ago, Consensus 2019 @coindesk crypto winter is over …
… confirmed pic.twitter.com/M8ni4g2YvX
– Thomas Lee (@fundstrat) May 19, 2019
One of the most important signs of the analyst mentioned the rapid recovery of Bitcoin's price after the credit draw.
"After rolling back to $ 6,200, Bitcoin rose again to $ 8,000. This further strengthened the positive momentum", – wrote Tom Lee.
Also one of the reasons for the end of cryptozymes, the investor called the increase in daily transactions in the Bitcoin network and reaching the Bitcoin breakdown index (BMI) of 67. The last time this indicator of crypto investors recorded in August 2017.
Lee also paid attention to the appearance on the map of the price of the first cryptocurrency "bullish crosses" – the intersection of the 200-day moving-average line with a shorter period.
A signal towards the end of the bear market is the growth in activity on the OTC trading platforms by 60-70% compared to the indicators of four months ago.
Separately, Tom Lee emphasized that a fairly calm response from the community to disputes with Bitfinex and Tether indicates that the market is growing and that volatility has declined.
Remember that at the end of April, Tom Lee expressed his confidence that the cryptocurrency market had entered a growth phase.
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