Tom Lee: Bitcoin will top $10,000 in 2019

14 Apr, 2019 | Updated: 14 Apr, 2019
by Will Heasman
Opinion
Tom Lee: Bitcoin will top $10,000 in 2019

 According to the head of Fundstrat Global Advisors and crypto’s resident bullish augur, Tom Lee has spoken: Bitcoin will top $10,000 before the end of 2019…

This months Bitcoin pump had revived the market and given life and rise to new bullish sentiment from all over the crypto sphere and Lee is no exception.

Speaking to MarketWatch the analyst suggested that Risk appetite is positive for Bitcoin, adding that “If the S&P 500 made a 2.5 standard deviation move [as it has done year-to-date] and investors are looking for vol [volatility] that’s building a base case for bitcoin.”

Due to this, in Lee’s estimation, Bitcoin could top $10,000 sometime this year. Talk about Bullish…

Lee has laid down much positive sentiment this year, including last week when he called the end of the bear season, telling Bloomberg that bitcoin was “now in a bull market.”

Read more: Thomas Lee: "Bitcoin is now in a bull market"

Interestingly, Lee also recently provided another bullish prognosis based on his self formulated Bitcoin Misery Index” (BMI)

This BMI – created by Lee- relays just how “miserable” Bitcoin holders are, based on the coin’s price and volatility. According to Lee, the BMI reached 89 out of 100 (100 being positive 0 spelling dejected misery)

In Lee’s estimation this is a good sign because since 2011 these levels have only been displayed during bull markets:

Let’s hope he’s right…

Read more: Tom Lee: Bitcoin should be $20,000

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Read more about: Tom Lee Bitcoin (BTC)

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