Tom Lee Called Three Factors To Search Further Bitcoin Price
Tom Lee, co-founder of Fundstrat Global Advisors, in a interwiev with CNBC, expressed confidence that the market had entered a growth phase and also mentioned several factors indicating a continuation of the upward movement of the Bitcoin price.
— CNBC Futures Now (@CNBCFuturesNow) April 25, 2019
According to him, at present the BTC price is trading above the 200-day moving average. This line is perceived by many investors as a kind of border between the bear and bull phases of the market. Therefore, at present this MA gives a positive signal that the notorious “cryptozyme” is finally passed.
Lee also noted an increase in trading volumes by 60-70% on OTC markets. However, he is sure that the mass adoption of cryptocurrencies depends more on retail investors than on large players. He says that until the crypto becomes part of the existing financial system and begins to be used in everyday operations, it will remain a speculative asset.