Tom Lee: "13 signs the crypto winter is over"

20 May, 2019
by Will Heasman
Analysis
Tom Lee: 13 signs the crypto winter is over

Permabull and Fundstrat co-founder Tom Lee has echoed the widely held sentiment that the crypto winter is over, however, rather than positivity alone, Lee has upped the ante providing 13 reasons as to why bear season is officially done…

In a Tweet, Lee suggested that Bitcoin’s recent pullback to $6.2k and subsequent reprisal back to $8k solidified the positive trend, adding that consensus hammered the final nail into the coffin of the crypto winter:

13 reasons why the crypto winter is over

The first reason Lee points out stretches back to November 2018, and details the “exhausted overhang” of BTC supply held by the mining pools of the split Bitcoin Cash (BCH) camps.

The list also reiterates Lee's recent view on the bullish positioning of Bitcoins price over its 200-day moving average – a historical indicator that bull season is in.

Also mentioned on the list was mid-April’s OTC volume surge, in which multiple OTC brokers reported an increase of 70% volume in comparison to 4 months previous, noting a re-accumulation of BTC.

The golden cross which formed in Bitcoin back in April - another historically bullish formation - also made the cut.

Alongside all this was the notable reaction (or lack thereof) from the market following the Bitfinex-Tether controversy which stirred an investigation from the New York Attorney Generals Office into potential fraud and manipulation.

In Lee’s estimation, all this, (and more) add up to the undisputable end of the crypto winter.

But what do you think? Are we finally out of the darkness, or will there be more pain to come?

Let us know your thoughts in the comments! 

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