According to Tom Lee, the price of a bitcoin in the second half of this year, with a 200 per cent increase. That said, co-founder of Fundstrat Global Advisors, in an interview with the Fundstrat Global Advisers. An indicator in the Tom Lee’s ‘very bullish’ (to be unnecessarily difficult word for “optimistic”).
Highlight: “We’re really optimistic on crypto and bitcoin this year,” @fundstrat Global Advisors, Managing Partner & Head of Research, Tom Lee, says. “Whenever bitcoin breaks back into its 200 day and its average six-month gain of 197%.” pic.twitter.com/2tqzsuOV0m
— Yahoo Finance (@YahooFinance) January 4, 2020
Price is above the moving average, it is positive
Tom Lee: “Normally, January is a weak month for bitcoin. But for now, it was January, very good, and the price has increased by 26 per cent. After that, finish the course, and for the first time in a long above the 200-day MA.”
With the 200-day Moving Average (MA) is meant to Lee, the moving average of the bitcoin price over the last two hundred days. Analysts use this line often in order to determine whether an investment is in a bull or bear market is.
That is, he tells us in the interview:
“As someone who is a trend follower, is to know when the price is above the 200-day MA, take a look at your back in a bull market. And each time, the value of a bitcoin is above average, the move will increase the price by an average of 197 percent over the next six months.”
The 200-day moving average
Below, you can see that the price of bitcoin. The green line that runs through the course, running around the 200-day MA. According to industry analysts, the market is on an upward trend when the price is above the line of movement.
Then, when the bitcoin exchange rate as last year, on the 2nd of april the line was broken the price went up, in the next few months, with more than 200 percent. Finally pulled the bitcoin value of the 13.890, the $ 12.600 us dollar.
Tom Lee, says that bitcoin is, this rally has run out and can repeat it. In the event that the price again, with a 200 per cent increase, up to more than 27,000, the $ 24.530€).
This would mean that a bitcoin is, this year, its highest value ever, and easily surpasses them. No one knows what the price really is going to do it, but it was still a fun thought experiment.
Where do you think the bitcoin price is about a half a year from now?