Fundstrat’s Tom Lee Says Bitcoin Fundamentals Will Improve, Become “Positive” By The End Of 2019
In wake of the recent crypto rally that started to take shape a couple of days back, it now appears as though many market experts believe the altcoin sector is heading in an upward direction.
In this regard, it should be pointed out that Fundstrat Global Advisors, a New York- based investment advisory firm, recently released a statement saying that the future of the crypto market looks good and that by the end of 2019, a whole host of alt-currencies such as Bitcoin, Ethereum could experience massive breakouts.
Tom Lee: “Bitcoin Fundamentals to Improve as we Move into the Future”
Via a recently released tweet, Fundstrat’s Tom Lee stated that he was sure that during the course of this year, the fundamentals of most major cryptocurrencies would move from “negative to decidedly positive”.
CRYPTO: we published our 2019 crypto outlook this am. Positive incremental developments coming. First paragraph below. pic.twitter.com/JkkBEvRmxl
— Thomas Lee (@fundstrat) February 8, 2019
In addition to all this, the folks over at Fundstrat also expect the US dollar to weaken during coming 4-6 months— something that will most likely catalyze an “inverse trend” in the price of Bitcoin.
Fundstrat’s advisory team also expects “emerging market equities to outperform American stocks, bonds, and similar vehicles” — which again will help in the creation of a crypto conducive environment.
Other Key Points Worth Noting
- Fundstrat advisors believe that 2019 will continue to see the trickling in of institutional investments— especially as cryptocurrency custody and over-the-counter trading solutions continue to emerge.
- Fundstrat’s research team is also of the belief that the crypto industry will witness an influx of consumer interest that will be catalyzed by “Binance’s recent addition of credit card purchasing options” on its platform.
“We have detailed the trends of factors affecting crypto in 2019, ahd [there are] more positive than negative developments… Overall, the outlook for Bitcoin should improve over the course of 2019.”
Despite the bullish sentiment that seems to have gripped the market at large, technical indicators associated with Bitcoin seem to suggest that a host of indices (such as large-cap, mid-cap, and small-cap advance/decline) that are related to the flagship cryptocoin are set to scale back to their mid-December levels.
It now remains to be seen what the future really has in store for Bitcoin and its associated offerings.