Bitcoin Bull Run Expected in August, Tom Lee Says

[Vladar49]

As investors continue to recover from the bearish market, the co-founder of Fundstrat Global Advisors Tom Lee remains optimistic and expects the next Bitcoin bull run to begin in August or September this year – which is five to six months from today. Lee has been making cryptocurrency predictions and comments for years.

While in a one-on-one interview with CNBC’s Futures Now, Lee said that:

“The key number to watch is the 200-day moving average… BTC’s bouncing along that. If Bitcoin holds above $4k, it’ll cross its 200-day [moving average] by August, so I think the outside window is five to six months before it starts to look technically like it’s back in a bull market.”

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-bull-run/

[maks-ivanov89]

be based only on moving averages ... I doubt that the forecast will come true.

[Joinrepublic]

With all due respect to Tom Lee, even though I am optimistic about the future of Bitcoin and in general - I agree with the expert - right now Tom is just trying to guess. Just because of all the experts who made the predictions, Tom Lee remembered for his mistakes the most. You know ... if every day you say "It will rain tomorrow," then you will surely guess one day.

[Xtoyak]

I fully agree with Maks. We are still unsure how exactly technical analysis can be fully applied on crypto market in order to make some accurate predictions. So, saying that 200-day MA will make some difference, is pure guessing if you don’t have some other inside infos

[maks-ivanov89]

I fully agree with Maks. We are still unsure how exactly technical analysis can be fully applied on crypto market in order to make some accurate predictions. So, saying that 200-day MA will make some difference, is pure guessing if you don’t have some other inside infos

Thanks for the support, I found a like-minded person!

[kventin.upgrade]

“The key number to watch is the 200-day moving average… BTC’s bouncing along that. If Bitcoin holds above $4k, it’ll cross its 200-day [moving average] by August, so I think the outside window is five to six months before it starts to look technically like it’s back in a bull market.”

This is an interesting assumption. Perhaps by that time the price will be around 10,000 and it will be very scary for everyone to buy BTC again, because it has already happened.