Fundstrat Global’s Thomas Lee Believes Bitcoin is Starting a “Big Recovery” in 2019

Bitcoin (BTC) seems to be ready to start a new bull run in the market. Thomas Lee, the head of research at Fundstrat Global Advisors, claims that Bitcoin is likely to stage a “pretty big recovery” this year. Bitcoin was in a bear trend for over a year and since February, the digital currency seems to be recovering its price.

Thomas Lee Says Bitcoin Will Recover in 2019

Thomas Lee has been analyzing the crypto market for a long period of time. It is known by most of the enthusiasts that Lee is a perma-bull. That means that he has always been very bullish about the price direction of Bitcoin. He even predicted that Bitcoin could reach $50,000 in 2018, which did not happen though.

This time, Thomas Lee pays close attention to the Bitcoin Misery Index (BMI) that weighs different factors to understand Bitcoin investor sentiment in the market. A few days ago, when Bitcoin surpassed $5,000, the index reached 89 points – or very happy – which was the highest reading since July 2016 and it could show that there is a bullish behaviour in Bitcoin.

Lee has also mentioned that Bitcoin surpassed the 200-day moving average, which is currently close to $4,600. According to Lee, people think that an asset is in a positive trend when it surpasses the 200-day MA. As he explains, Bitcoin’s recovery is taking place faster than expected. Finally, he believes that Bitcoin could recover and reach $20,000 in the near future and move even forward.

At the moment, Bitcoin could be reaching $14,000, since Lee believes that this is the current fair value for the digital asset.

At the time of writing this article, the digital asset can be purchased for $5334 and it has a market capitalization of $94 billion.

Bitcoin (BTC) Live Price

1 BTC/USD =$10,807.9355 change ~ 1.74%

Coin Market Cap

$192.14 Billion

24 Hour Volume

$7.91 Billion

24 Hour VWAP

$10.81 K

24 Hour Change

$188.2058

Get Free Email Updates!

*Action Required* Enter Your Email for Trending Crypto News & Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

[Domain Disclosure] The crypto-community content sourced, created and published on BitcoinExchangeGuide should never be used or taken as financial investment advice. Under no circumstances does any article represent our recommendation or reflect our direct outlook. We b-e-g of you to do more independent due diligence, take full responsibility for your own decisions and understand trading cryptocurrencies is a very high-risk activity with extremely volatile market changes which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Coin Market Cap Price Change 24 Hour Volume
BTC $192.14B $10,807.9355 1.74% $7.91B
ETH $32.67B $306.4561 -0.82% $2.79B
XRP $19.59B $0.4610 -1.73% $698.15M
BCH $8.37B $468.5897 -2.76% $402.76M
LTC $8.35B $133.9275 -4.20% $901.71M
EOS $6.55B $7.1112 -3.02% $827.64M
BNB $5.21B $36.9238 -1.96% $234.57M
BSV $4.23B $236.7718 -0.22% $190.31M
USDT $3.51B $0.9948 0.21% $7.13B
TRX $2.55B $0.0382 4.82% $410.11M

Get 3 Free Bitcoin eBooks for Limited Time Only

Receive three exclusive user guides detailing a) What is Bitcoin b) How Cryptocurrency Works and c) Top Crypto Exchanges today plus a bonus report on Blockchain distributed ledger technology plus top news insights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.