Bitcoin’s lack of regulatory clarity has impacted its user base, claims Fundstrat’s Tom Lee

It has been over a decade since the first cryptocurrency, Bitcoin, was launched. Regardless of its years in the monetary world, the mass adoption of cryptocurrencies is still a vision as the industry remains largely in infancy. Fundstrat’s Managing Partner and Head of Research, Tom Lee, recently elaborated on the same on a recent podcast, […]
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Source: AMB Crypto

‘Rule Of 10 Best Days’: Here’s How to Capitalize on Bitcoin as per Fundstrat’s Tom Lee

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‘Rule Of 10 Best Days’: Here’s How to Capitalize on Bitcoin as per Fundstrat’s Tom Lee
In recent news, Thomas Lee, the co-founder of Fundstrat, tweeted a reminder to all the crypto enthusiasts and traders that the majority of Bitcoin gains come from the rule of 10 best days.
‘Rule Of 10 Best Days’: Here’s How to Capitalize on Bitcoin as per Fundstrat’s Tom Lee

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Bitcoin Price Back Above $10k, Targets New ATH Amid Bakkt Monday Launch

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Bitcoin Price Back Above $10k, Targets New ATH Amid Bakkt Monday Launch
Bitcoin price has climbed back above $10,000, just days before Bakkt officially launches. Could back be the long-awaited Bitcoin savior? Will we see another all-time high before 2019 is over?
Bitcoin Price Back Above $10k, Targets New ATH Amid Bakkt Monday Launch

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Bitcoin Rally Will Come Only After Surge in S&P 500 Stocks, Says Fundstrat’s Tom Lee

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Bitcoin Rally Will Come Only After Surge in S&P 500 Stocks, Says Fundstrat’s Tom Lee
Popular Bitcoin Bull and Fundstrat exec Tom Lee, has said that there is a correlation between the equity market and the Bitcoin market. Lee says that Bitcoin with reach a new all-time high after the S&P 500 stock does as well.
Bitcoin Rally Will Come Only After Surge in S&P 500 Stocks, Says Fundstrat’s Tom Lee

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VanEck’s Limited Bitcoin ETF Loses Steam, Manages to Issue Only 4 Bitcoins

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VanEck’s Limited Bitcoin ETF Loses Steam, Manages to Issue Only 4 Bitcoins
The VanEck’s Limited Bitcoin ETF has proved unimpressive so far with only 4 BTC tokens issued. Some crypto experts have also slammed VanEck for its marketing gimmick saying the product is nowhere close to real ETF.
VanEck’s Limited Bitcoin ETF Loses Steam, Manages to Issue Only 4 Bitcoins

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Fundstrat’s Tom Lee: Bitcoin Is a Safe Haven for Investors

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Fundstrat’s Tom Lee: Bitcoin Is a Safe Haven for Investors
Saying that Bitcoin can be viewed as a safe haven for investors, Thomas Lee added that Bitcoin has “done very well this year”. He still stays very optimistic about further BTC performance.
Fundstrat’s Tom Lee: Bitcoin Is a Safe Haven for Investors

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Bitcoin [BTC] Breaks Above 11,500, Gold Tests Record Highs

Bitcoin [BTC] broke above $11,500 as the bullish momentum in it continued above $10,500 during early Eastern trading sessions. It gained around 6.85%, adding about $600 to its price.
The price of Bitcoin [BTC] at 3: 15 hours UTC on 5th August is $11,563. It tested a high at $11,676.
BTC/USD 4-Hour Chart on Bitstamp (TradingView)
The break was significant from a psychological point of view and even technical analysis. Bitcoin [BTC] broke above the first top (of the double top) and would now be eyeing to break $13,000.
Moreover, Gold also tested it’s yearly high and broke above the trendline. Whereas, Dow Jones Industrial Average closed down 250 points on Friday.
The inverse correlation can be attributed to the Fed’s rate cut view, and the renewed trade was between the US and China. In the Chinese currency, Yuan, Gold broke above 10,000 CNY, which is also a critical psychological level. Peter Schiff leading Gold investor and proponent tweeted,
Despite Gold’s breakout to a 6-year high in July, physical sales in the U.S. fell to a 12-year low. Gold buyers are also Trump supporters, and since they no longer worry about the economy, they’re not buying gold. When reality sets in, they’ll be paying over $2,000 per ounce!
Since, the beginning of the year, like Gold, Bitcoin has grown as a viable hedge against the loss from traditional markets. Anthony Pompliano, a leading proponent of Bitcoin, tweeted,
UPDATE: Bitcoin is performing as designed during times of global instability.
Gold(AUX)/USD 1-Day Chart on Forex.com (TradingView)
The total dominance of BTC over the cryptocurrency markets is about 67.6% at the time of writing. The altcoins have continued to lose Sats. It also suggests that the bubble characteristics and the coupling of altcoins with Bitcoin are beginning to end.
Tom Lee, the co-founder of Fundstrat, who is known for his price and sentimental analysis of Bitcoin, was also euphoric seeing this move in Bitcoin. He suggested that ‘hodling’ was the best long term strategy.
Do you think that the Fed’s will retaliate to it or traditional investors will further give in to selling pressures? Please share your views with us. 
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Source: CoinGape

JPMorgan Pushes Its S&P 500 Prediction Above That of Stock Market Bull Tom Lee

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JPMorgan Pushes Its S&P 500 Prediction Above That of Stock Market Bull Tom Lee
JPMorgan expanded its S&P 500 prediction which now stands at 3,200 from initial 3,000. The new target exceeds that of popular stock market bull and Fundstrat co-founder Thomas Lee who initially set the 3, 125 level.
JPMorgan Pushes Its S&P 500 Prediction Above That of Stock Market Bull Tom Lee

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Future of crypto-assets will be prosperous, with or without Libra

It has been yet another eventful week for “magic internet money.” Bitcoin, which leads the cryptocurrency bandwagon in the financial market, has been in the headlines recently owing to two key comments. First, it was the Chairman of the Federal Reserve talking about it as an alternative to Gold. Second, it was the President of […]
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Bitcoin Smashes Past $13,000: What Fundstrat Says is Behind BTC’s Strength

Last week, Bitcoin was nursing a heavy hangover, which took hold of the cryptocurrency market after BTC hit and failed to break through $13,800. BTC was in the dumps, having lost 30% from its year-to-date high, and altcoins were doing even worse, with assets like Ethereum and Litecoin bleeding against the market leader.
Also Read: Italian Paper Labels Bitcoin a “Ponzi Scheme” as Euro on Verge of Recession
But, bulls have managed to regain control of the digital asset market, commencing a strong (re)rally that began last week. Now, Bitcoin has hit $13,000 yet again — and looks stronger, both technically and fundamentally, than it did last time.
Here’s what is driving Bitcoin and will continue to be a bullish catalyst in the future, according to Fundstrat Global Advisors anyway.

Fundstrat Global Advisors' Thomas Lee shares his take on Bitcoin's rally pic.twitter.com/bQ0nIFssSW
— Power Lunch (@PowerLunch) July 9, 2019

Bitcoin is Caviar For Hedge Funds
Speaking to CNBC’s “Power Lunch” panel, Tom Lee of Fundstrat laid out three primary reasons why Bitcoin has and could continue to see growth.
First off, Lee explains that Bitcoin is becoming increasingly attractive to institutions, especially hedge funds, many of which are underperforming key indices due to their risk-averse nature.
The staunch cryptocurrency bull points out that if a fund added 2% of BTC at the start of the year, their portfolio would already be up 400 basis points. This, in the current economy, is “caviar for hedge funds”, according to Lee.
What’s interesting is that hedge funds are reported to be behind this rally. Per previous reports from NewsBTC, a report from FN London explained the following on the matter of BTC rallying and outperforming altcoins:
“Macro managers and high net worth individuals are generally, in my experience, focused almost entirely on Bitcoin.”
There is still a ways to go. For some perspective, Winton, a British investment management firm, estimates that hedge funds worldwide hold a minimum of $3 trillion in assets. The entire value of the cryptocurrency asset class is around 10% of that.
Insurance Against Macroeconomic, Fiscal Risk
Secondly, Bitcoin is increasingly finding value and proving itself as a hedge against macroeconomic and fiscal risk. You’ve already seen that in Hong Kong, where LocalBitcoins volume has spiked and local exchanges have registered premiums due to the protests against the government.
In Turkey, BTC has already hit new all-time highs against the Turkish Lira because of hyperinflation and a need for money that is relatively sound.
And, Bitcoin is being widely acknowledged as a hedge by notable mainstream media personalities, Silicon Valley/Wall Street investors, and economists.
Facebook has Validated Crypto
And lastly, Facebook has ensured the survival of the crypto industry with Libra. And, more importantly, the launch of the corporate, Silicon Valley coin should be a boon for Bitcoin.
Libra further validates the idea that digital money is a viable technology, building on the work of Bitcoin, Ethereum, and even ventures like JP Morgan Coin. Few consumers have actually adopted cryptocurrency, despite the fact that it occupies the front pages of newspapers and headlines of digital outlets across the globe.
Per a survey conducted by Blockchain Capital, 9% of Americans aged 18 to 65+ owned Bitcoin — far from “mass adoption.” And it’s possible that 9% is too high. But this all changes with Libra, because by simple virtue of network effects and the curiosity of individuals, they will find their way to Bitcoin.
At least a fraction of its users will “stumble across Bitcoin,” as BlockTower’s Ari Paul put it. From there, these users, armed with knowledge of Libra’s benefits and shortcomings, will likely begin to get involved with Bitcoin, creating a capital inflow and a boost to the asset’s network effects. Even if a conservative 5% of Facebook’s active user base finds its way to Bitcoin, the size of the cryptocurrency community will easily grow dramatically.
With all this in mind, Lee concluded that “new all-time highs” for Bitcoin could very well be “imminent”. This latest bullish statement comes shortly after he told Binance’s chief financial officer, Wei Zhou, that once BTC breaks past $10,000, he would be inclined to suggest that a “fast and furious” move to $20,000 and then a further leg up to $40,000 is possible.
Related Reading: Crypto Analyst: Bitcoin (BTC) Dominance May Reach 80%, Altcoins Expected to Bleed
Featured Image from Shutterstock
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Bitcoin’s Fourth Parabolic Rise in a Decade, Analysts See Low Liquidity and High Volatility

In the past ten years, the market capitalization of Bitcoin [BTC] has risen from about $70 billion in April to $200 billion in just about three months. The rise has been mostly attributed to increasing institutional interest and Facebook’s cryptocurrency announcement, which seems to have validated the cryptocurrency markets, especially Bitcoin.
Furthermore, Bitcoin is the only cryptocurrency in the market that has become popular with institutions in financial services. The numerous altcoins are taking huge losses at the moment while it has enjoyed positive momentum. Moreover, the volatility in Bitcoin is still very high, which was witnessed prominently is the last few days. On Bitcoin’s ‘thin volatility,’ he noted,

“Volatility is by design as far as Bitcoin is concerned. 17 million Bitcoin have been mined until now, of those I would estimate that only about 30% are being activated and up for grabs.”

Bitcoin [BTC] rose from $11,000 to $13,800 and then back to 11,000 in less than 48 hours. The yearly rise in Bitcoin now is being described as a part of another cycle in Bitcoin. This is the fourth parabolic phase that Bitcoin has witnessed in the last ten years.
“I hope it is like 2017, 2017 was a fantastic year for Bitcoin so was 2013 and 2011. Bitcoin goes through these types of cycles of massive surges and massive pullbacks Massive pullbacks as well. “
Also Read: Bitcoin [BTC] Price Targets Turn Bearish, Analysts Weigh-in on the Sudden Movements
Bitcoin bullish Cycles in the Past 8 Years
Mati also noted the growth of the network since the start of 2019, where Bitcoin is witnessing 4-4.5 transactions per second. This was previously recorded for a short period during the 2017 frenzy. The Exchange volume and Bitcoin futures trading volume has also increased considerably.
Bitcoin [BTC] Futures Volume Spike (Souce: CME)Hence, for traders, cautioned must be taken at the moment because Bitcoin is facing a lot of heat. Thomas Lee, Partner, and Co-Founder of fundstrat, talked also talked about the volatility. He tweeted,
“reminder, Bitcoin is a hypervolatile asset. This is great for volatility and other dedicated traders. For most, taking a long-term view is more appropriate”
Mati also noted that we’ve entered the summer taking a lot of heat in the market with us. He said, “It’s very hot right now.” Therefore, upside towards new ATH, consolidation, or an even a deeper pullback; anything is possible.
Where do you think the market is headed next? What is your trading strategy? Please share your views with us. 

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Source: CoinGape

Despite convertibility issues, Facebook’s Libra will be a dominant stablecoin, opines Thomas Lee

Thomas Lee, Head of Research at Fundstrat Global, spoke to CNBC about Facebook’s Libra Blockchain. He also opined on how it would affect the cryptocurrency space, especially Bitcoin, stablecoins, and the field of decentralized finance. Lee said that Facebook’s announcement was a “complete validation” of the fact that institutional eyes had shifted to cryptocurrency, contradicting […]
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Source: AMB Crypto

Preparations Have Started for the Largest Cryptocurrency Conference of the Region – Blockchain Economy 2020!

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Preparations Have Started for the Largest Cryptocurrency Conference of the Region – Blockchain Economy 2020!
Don’t miss out: Istanbul will be a host to the second largest cryptocurrency conference in February 2020.
Preparations Have Started for the Largest Cryptocurrency Conference of the Region – Blockchain Economy 2020!

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Source: CoinSpeaker

Analysts Predict $10000 Bitcoin [BTC] Might Be Imminent as it Keeps Resisting Bears

Bitcoin pulled back to $8000 briefly after touching the $9000 mark. The movement began with a swift move up and then the break downwards. However, the price found support near $8300 instantly as well. $8300 was the earlier break-away point for Bitcoin.
BTC/USD 4-Hour chart on Bitstamp (TradingView)
Furthermore, Bitcoin [BTC] broke above $8550 on the following day as well, which signified fierce resistance to the bears and bull looking to ‘buy the dip.’ Vinny Lingham, chart analyst and traders tweeted:
This BTC action looks aggressive. Makes me think that we may blow through $10k and test $12k very soon, but $12k is a very heavy resistance level, so I would expect consolidation around the $10k level for some time if $12k is (likely) rejected.
As cited by Tom Lee, a break $10k would create a lot of FOMO among people as it would revive hope of Bitcoin [BTC] exceeding past its previous All-Time High near $20000.
The resilience shown by Bitcoin [BTC] has turned most traders bullish again. As Peter Brandt, chart analyst and trader tweeted:

$BTC appears to be stabilizing after the 12% break on Thursday. I am willing to dip by toes back in the water.

BTC/USD Chart Analysis (Source)
The target, according to Brandt’s analysis, is rather conservative than Lingham’s. He set his first target at $9321.62, followed by $10615.80.

Also Read: Crypto-Market Update: Bitcoin [BTC] Back Above $8500; ETH, XRP, LTC & EOS Lead Gains

Since, the beginning of the month, the sentiment around Bitcoin has been steady with predictions reaching as far as $8 million per BTC. Moreover, the price action also seems to suggest that the demand for Bitcoin [BTC] is big dips are being bought almost instantly.
Traders who were predicting a bearish movement in the last above $7000 and $8000 would rush in to buy if further pullback occurs. Nevertheless, the fundamentals around Bitcoin hasn’t changed much in the past month, and the scalability issue around Bitcoin is still a limiting factor. Hence, a more extended period of accumulation is just as likely.
Do you think that the price will touch $20000 again in 2019? Please share your views with us. 

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Source: CoinGape

Bitcoin May be up 14.9% But Tom Lee Expects “Real FOMO” after $10,000

BTC is steady above $8,500, add 14.9 percent
Prices in an uptrend but real FOMO is after $10,000 says Tom Lee

Tom Lee is an ardent Bitcoin supporter. Contrary to the mainstream view, he believes real FOMO for BTC will begin after prices rally past the psychological $10,000 mark. Currently, BTC is up 14.9 percent from last week’s close.
Bitcoin Price Analysis
Fundamentals
A healthy blend of growing awareness, coupled with the involvement of industry heavyweights and improving infrastructure, is somehow giving Bitcoin momentum. At some point this week, there was an expected reversal from the $9,000 mark. That is normal. Prices do expand and shrink, depending on supply and demand dynamics.
However, it is about the resilience of buyers. How they will maintain demand, and keep prices above key supports is what counts. After all, demand is a measure of participation. Although we cannot refute that buyers are back as trading volumes surge, Fundstrat Global Head Analyst Tom Lee is calling for patience.
While responding to a tweet from Financial Times’ Adam Samson, he said the real FOMO trigger is when BTC break above the $10,000 psychological mark. To him, that’s when BTC will edge past “level 10 FOMO.” The level is from Fundstrat’s study that compartmentalizes the level of BTC investor involvement from 1 to 10.

At what price will see FOMO from those who gloated about 90% crash in $BTC?
Military term, SWAG (scientific wild-assed guess).
My SWAG is $10,000 is price that causes FOMO from those who saw #bitcoin as dead forever.
POLL: At what price do we see FOMO?
— Thomas Lee (@fundstrat) May 12, 2019

Per Tom Lee’s calculations, that is when “a price level only seen 3 percent of all days [and] mathematically equivalent to exceeding $BTC $4,500 in 2017.”

Actually the point of the chart is to say “real FOMO” probably starts when #bitcoin exceeds $10,000 as that is a price level only seen 3% of all days…
…mathematically equivalent to exceeding $BTC $4,500 in 2017
Looking back, that price was a level that indeed triggered FOMO
— Thomas Lee (@fundstrat) May 29, 2019

Candlestick Arrangement

Stable above $8,500, BTC is in an uptrend. At the time of writing, the world’s most valuable digital asset is shrugging off sellers. It is up 14.9 percent from week to date, thereby affirming the presence of optimistic buyers.
In line with previous BTC/USD price analyses, traders should search for loading opportunities on dips. Modest targets lie at $9,000, which is this week’s high. However, any clearance could see BTC surge to $10,000 or higher by the end of Q3 2019.
Technically, BTC is within a breakout pattern and although in consolidation within May 26th trade range, rejection of lower prices hints of underlying demand.
In that case, risk-averse traders can wait for close above $9,000 at the back of high trading volumes exceeding recent averages.
Technical Indicator
Because of candlestick arrangement, May 26th bull bar anchors this BTC trade plan. Safe the low trading volumes, it is wide-ranging, and probably is laying the foundation that could see prices expand beyond $9,000.
In a similar fashion, the conservative traders, as aforementioned, can only initiate longs if accompanying trading volumes propelling BTC above $9,000 exceeds 19k.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
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