Bitcoin Price Breakout Scheduled for August, Says Fundstrat’s Tom Lee

[mikeywith]

Since peaking at all-time highs around $20,000 in December 2017, Bitcoin has seen the longest bear market in its history, with subsequent lows averaging just above $3,100.

you can "predict" the future, but you can't change the past, this piece of information is wrong af, the longest bear market btc has seen was in 2014/2015, it took  637 days to hit the lowest low from ath , the current bear market is only 469 days old.

[arpon11]

Fundstrat Global Advisors co-founder Thomas Lee broke with tradition about Bitcoin (BTC) price forecasts on March 14, telling CNBC he thinks a bull market could return within six months.

In an interview with the publication, Lee, who is well known as a Bitcoin bull — but said he would stop giving out timeframes for a price rebound in December — now claimed August could see a market U-turn.

“I think the key number to watch is the 200-day moving average,” he told the network, continuing:

    “If Bitcoin holds above $4,000, it’ll cross its 200-day [moving average] by August, so I think the outside window is five to six months before Bitcoin starts to look technically like it’s back in a bull market.”

Referencing Bitcoin Cash’s (BCH) contentious hard fork in mid-November, Lee stated, “I think the damage that really needs to be repaired is that drop from $6,000 to $3,100,” adding:

    “I think it really undermined investor confidence and the dynamics around the market[.]”

As recently reported, Bitcoin had begun to deliver returns to investors through February, with average daily increases of around 0.5 percent. The number this month has shrunk, with daily numbers closer to 0.2 percent, leading some to think a fresh bear market downturn could be imminent.

Since peaking at all-time highs around $20,000 in December 2017, Bitcoin has seen the longest bear market in its history, with subsequent lows averaging just above $3,100.

In December, fellow market analyst Tone Vays sounded a more intense warning, forecasting BTC/USD to fall to near $1,000 before bearish sentiment definitively ends.


Reference: https://cointelegraph.com/news/bitcoin-price-breakout-scheduled-for-august-says-fundstrats-tom-lee

I do agree on his views about the market and I am one of his followers.  Tom Lee is always positive about the market and probably that is the most reason why he is one of the top guys in cryptocurrencies cycle.  The bearish trend that brought us to the current market conditions is almost over and the bullish trend will soon commence but the bull run will happen around that August.   

[sheenshane]

I don't advise myself to trust and expect these kinds of predictions but I find him that he had his researches before predicting it. But some of the people don't trust Thomas Lee and said that he is actually a liar. But I can tell that he is an analyst, not a future teller so we can't actually hate him. He nailed pas predictions and some people agree with him. Bitcoin is a way undervalued at the moment hence why Jack Dorsey Twitter CEO is buying bulk paying $10k a week. #check the comments on the link you have shared.

[bbc.reporter]

@cybersofts. Can you add a poll for this thread to survey and asking if Tom Lee should be followed this year or not hehehe? We laughed at him for a whole year on 2018, this might be the year for him to begin laughing at us.

[talkbitcoin]

@cybersofts. Can you add a poll for this thread to survey and asking if Tom Lee should be followed this year or not hehehe? We laughed at him for a whole year on 2018, this might be the year for him to begin laughing at us.

you should never "follow" anyone even if they were correct. all these numbers everyone is coming from is 90% pointless because most of them pull their out of their behinds!
we all know bitcoin is going to rise and set a new ATH but we never had any way of telling when it is going to happen and how big it is going to be.

[Juggy777]

@cybersofts. Can you add a poll for this thread to survey and asking if Tom Lee should be followed this year or not hehehe? We laughed at him for a whole year on 2018, this might be the year for him to begin laughing at us.

Hey while last year he got it completely wrong I feel we should give him the benefit of the doubt, and hope that this time his predictions come right. I feel a poll would be a great idea, as we will get to know how many believe he’ll get it right this time. Also as we speak bitcoin prices have slowly but steadily began to rise above $4K levels, I feel if bitcoin prices can sustain these levels for few days then we may see $5k levels by May.

[BrewMaster]

@cybersofts. Can you add a poll for this thread to survey and asking if Tom Lee should be followed this year or not hehehe? We laughed at him for a whole year on 2018, this might be the year for him to begin laughing at us.

Hey while last year he got it completely wrong I feel we should give him the benefit of the doubt, and hope that this time his predictions come right. I feel a poll would be a great idea, as we will get to know how many believe he’ll get it right this time. Also as we speak bitcoin prices have slowly but steadily began to rise above $4K levels, I feel if bitcoin prices can sustain these levels for few days then we may see $5k levels by May.

but he wasn't just wrong about predicting the price he was ridiculously wrong and kept on insisting on his target price which at some point became too obvious is never going to happen.
i mean we have all made mistakes and will make them but every trader should be flexible in the market and change with it, if you stick to one trend and never give it up you will lose.

[tomahawk9]

I don't advise myself to trust and expect these kinds of predictions but I find him that he had his researches before predicting it. But some of the people don't trust Thomas Lee and said that he is actually a liar.

Calling him "liar" is a bit too much. Someone who lies has the intent to deceive someone into believing that something is true. Tom lee isn't doing that, he's just sharing his views about the current market situation, or he simply wanted to go back to his old 'trying to predict the price' days to keep his clients happy or because it was time to make some bullish statements.

Either way, even though he's been wrong many times before, to the point where I believe he's lost almost every bit credibility that he had in the crypto space, I still wouldn't call him a 'liar'.

[2chase]

I am not inclined to dramatize the situation and when someone tells me that Bitcoin can fall to the level of $ 1000 for one Bitcoin, as a rule I’m very calm about this kind of information and forecasts, I don’t panic and don’t tear my hair out. In general, I am very phlegmatic about predictions.

[bbc.reporter]

@cybersofts. Can you add a poll for this thread to survey and asking if Tom Lee should be followed this year or not hehehe? We laughed at him for a whole year on 2018, this might be the year for him to begin laughing at us.

Hey while last year he got it completely wrong I feel we should give him the benefit of the doubt, and hope that this time his predictions come right. I feel a poll would be a great idea, as we will get to know how many believe he’ll get it right this time. Also as we speak bitcoin prices have slowly but steadily began to rise above $4K levels, I feel if bitcoin prices can sustain these levels for few days then we may see $5k levels by May.

but he wasn't just wrong about predicting the price he was ridiculously wrong and kept on insisting on his target price which at some point became too obvious is never going to happen.
i mean we have all made mistakes and will make them but every trader should be flexible in the market and change with it, if you stick to one trend and never give it up you will lose.

Agreed. However, that was 2018. We should also be flexible audiences and know when the right time to laugh at someone and when to accept that someone might be right hehehe.