[2018-03-21] Altcoin Bear Market `Over’, Bitcion `Less Miserable,’ Tom Lee

[moriskarlov]

Fundstrat Global Advisors’ Tom Lee has declared the altcoin bear market “is over” and urged investors to buy Bitcoin.

TOM LEE: INVESTORS ‘MORE COMFORTABLE’ WITH BITCOIN

In a note to investors which he followed up live on CNBC’s Fast Money segment, the firm’s head of research said investors were becoming “more comfortable” with Bitcoin as an asset.

Cryptocurrencies began rallying this week after the ongoing G20 Summit produced positive regulatory noises from the outset.

“I think the headlines were less draconian than many people were worried about, but that’s really been the case every time there’s been a regulatory event,” Lee told CNBC.

"The reality is I think Bitcoin is starting sit away from the line[…] I think investors are comfortable that Bitcoin is likely to viewed as a commodity; whether regulations change around security tokens and registration, Bitcoin sits in its own sphere."

More info - http://bitcoinist.com/altcoin-bear-market-bitcoin-tom-lee/

[Theb]

LOL. Who is he fooling? If we find some time to take a look for ourselves you will see that we are still on the bear market. Bitcoin is down from 20,000$, Ethereum is down from 1,400$, Ripple is down from 3$. We are not even close to their all time high yet and this Tom Lee guy is saying that the bear market is over. Remember the market leader is more than half of what it's worth right now and I don't think we will be moving or even try to re-test 20,000$ at this month at least. I can even consider this "news" as a hype for people in the market.

[aso118]

The altcoin bear market might be over, but it could be some time before the bull market starts. People might be more comfortable with Bitcoin right now, but sooner or later another emotion will take over - greed. People will try to locate the Bitcoin killer altcoin and become rich overnight.