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

[Herbert2020]

at least now his predictions are starting to make more sense compared to what he kept insisting on last year with new ATH and stuff like that!
the biggest problem that bitcoin is currently facing for its rise is the damage that was inflicted on the investors' confidence because the latest drop that we had (going below $6k) was considered purely manipulative and due to BCash FUD and other kind of attacks on the market value. and to get out of this kind of lack of confidence we first need to see some rises and some time for accumulation. and that is what has been happening these days. if it is kept up we can see $6k within 1-2 months.

Exactly, Tom's prediction last year was very disastrous to his reputation, and he keep on singing the same tune when everyone, even just a casual traders knows exactly what's going on to the market at that time. At least today, or for this year, he learn from his past mistakes and his prediction seems to be achievable at least this year. I don't know how Fundstat and his clients are doing, and I do hope that his clients are still with him eventhough we're still in the bearish cycle.

my theory is that him (and basically a lot of others like him who have been doing the same thing) are making these statements constantly in the media because they want to increase the publicity of their company.
if you think about it, we probably would have never heard the name "Fundstrat" if he didn't constantly come up in the news with his outrageous guesses in 2018.
others have done the same, like McAfee who obviously used that publicity to make millions from his tweets and his pumps of shitcoins.

[rhomelmabini]

Predictions! Predictions! Predictions! Welll anyone can get almost too good to be true prediction and it will be more intriguing if the person predicting it is prominent. At least care about the use case not the price.

[Twinkledoe]

Exactly, Tom's prediction last year was very disastrous to his reputation, and he keep on singing the same tune when everyone, even just a casual traders knows exactly what's going on to the market at that time. At least today, or for this year, he learn from his past mistakes and his prediction seems to be achievable at least this year. I don't know how Fundstat and his clients are doing, and I do hope that his clients are still with him eventhough we're still in the bearish cycle.

my theory is that him (and basically a lot of others like him who have been doing the same thing) are making these statements constantly in the media because they want to increase the publicity of their company.
if you think about it, we probably would have never heard the name "Fundstrat" if he didn't constantly come up in the news with his outrageous guesses in 2018.
others have done the same, like McAfee who obviously used that publicity to make millions from his tweets and his pumps of shitcoins.

I believe that is their main motive why they keep on giving predictions and they enjoy the media attention that they are getting. Though he has no good image in crypto community yet we don't know if he is raking money behind the scenes because his company is getting well known. Good or bad publicity will make a difference to his company's financial status. And that is the important aspect at the end of the day.

[BlueStackz]

my theory is that him (and basically a lot of others like him who have been doing the same thing) are making these statements constantly in the media because they want to increase the publicity of their company.
if you think about it, we probably would have never heard the name "Fundstrat" if he didn't constantly come up in the news with his outrageous guesses in 2018.
others have done the same, like McAfee who obviously used that publicity to make millions from his tweets and his pumps of shitcoins.

They must have been big on their own before their prediction was taking seriously, we have so many analyst out there that there prediction is more outrageous and yet we still don’t get to hear about them, it might not necessarily mean that they do so with the intention of creating awareness for their company but creating awareness as an investor too. He wouldn’t just come out to be predicting a coin if he is not also an investors in it, there are so many mediums he can use to create awareness for his product.

With your John McAfee illustration, you now see that they do so in other to promote whatever coin they also invested in and not because McAfee product was not already known worldwide.

[1Referee]

Though he has no good image in crypto community yet we don't know if he is raking money behind the scenes because his company is getting well known. Good or bad publicity will make a difference to his company's financial status. And that is the important aspect at the end of the day.

I doubt he is making money, unless he purposely is trying to make himself look like a fool to do the exact opposite behind the scenes.

In the end, I do believe that the reputation of Fundstrat is suffering from this because who's going to take them serious when one of their main characters is wrong each and every time? The worst part for him was when during a CNBC item he was asked why he keeps on doing this to himself and whether or not it's better to stick to the legacy market. Ouch.

Ah well, the good thing about Tom Lee is that we can use him as counter indicator. 

[pixie85]

We should start betting against Tom Lee's predictions and make money this way. Some people are not meant to do certain jobs and Tom Lee is like the opposite of an oracle.
Want to bet some money that he'll be wrong again this time? Maybe he's cursed?

[samcrypto]

Bitcoin Price Breakout Scheduled for August, Says Tom Lee )

He predicted so many false predictions that is last time he will be right once. Even broken clock is right twice a day!

That’s not new, but since the market is getting better he might be right this time but of course give credits to those who really help the market up again. Predictions is useless without investors so i think its better to encourage people that to spread predictions. We will break that resistance this year i believe on this.

[Siren]

Seems like its more truthful now because we had already passed $4,000 and looking stability on this range,while Tom Lee is good in predicting yet I don’t take this one seriously because this might be another whale Trap

Im tired of those tricks when i become a victim once with their manipulation strategy.but of August brings us good enough reason then i woll consider buying with my assets on hand

[jossiel]

I like Tom Lee as a bitcoin bull but with his predictions, I'm not listening to him. Look at the comments of everyone here who's not impressed anymore with his predictions. We want the market to see its on good condition again and I guess this is just his way to attract the investors back.

Probably he's going to be right this time? or no? hehe. He should stop giving dates on when exactly the bull run will start because he's aware that it's nearly impossible to have that indication that bull run's about to start.

[adaseb]

I wouldn't take too much thought into this prediction. Remember what happened last year?

Everybody assumed BTC would go back to ATH after the tax due date? It rallied for a month and then started heading back down again.

Same for the prediction that it would rally from $6K in Nov-Dec 2018 because its usually when BTC has a bullish move. Instead what happened? The complete opposite and it was a nasty crash. And the crash was nasty due to all the over leverage people who assumed it was the bottom and were wrong and unless you used 1x leverage, you would of been most likely liquidated.

[$anounimus$]

Seems like its more truthful now because we had already passed $4,000 and looking stability on this range,while Tom Lee is good in predicting yet I don’t take this one seriously because this might be another whale Trap

Im tired of those tricks when i become a victim once with their manipulation strategy.but of August brings us good enough reason then i woll consider buying with my assets on hand

You should know from the start when the current price movements are just the result of price manipulations made by investors so they will only make traders trapped like you.

[Kevin77]

When it is Tom Lee speaking people tend to not even care what he says, he could say its going down or its going up and we do not give a damn because lets face it its Tom Lee and he is a joke here and it is right that he is a joke because all of his predictions are just funny.

Nonetheless, this time it is a bit true because bitcoin has been low for a long time and we are getting closer and closer to the bitcoin breakout and halving so before that time comes bitcoin prices should start to go up. August seems like a proper time period because at least it would be before the halving happens and if you buy during August than you would be in big profit during next years May.

Well, that is at least how some investors think, I will keep on buying more this summer as well so I am part of the people Tom Lee relies on.

[kryptqnick]

i thought he was done making predictions. say it ain't so, tom!

he's been the best contrarian indicator i've ever seen. i'm hesitant to stay too bearish for too long, but this prognostication from tom lee might have just delayed the bull market until at least december!

You don't really believe it works this way, do you  ? I mean, predictions of things getting better are not likely to cause the postponing of it. August as a start of the bullish market is not terrible, but it's not great either. It's been terribly long already, and the only thing that was giving me hope lately was the significant increase in bitcoin's trading volume that is capable of supporting twice as high prices, but then there's this news on how the volumes are actually faked almost entirely.. And the prices don't seem to be moving much, so we are still deep in the mud.

[Febo]

Bitcoin Price Breakout Scheduled for August, Says Tom Lee )

He predicted so many false predictions that is last time he will be right once. Even broken clock is right twice a day!

Till date very few price predictions might have coincided with the reality. As in the quote as broken clock coincides with the right time in cryptospace too that can happen. Yesterday too some price predictions have come stating that the market price Wil reach ₹10000 by the fourth quarter of the year. As an user it is good to predict ourselves and stick to it. These predictions need to be considered as a boosting to stay active on cryptospace.

Well it is hard to set number and is hard to set dates. But it is not that hard to predict how price will move and I saw plenty of such predictions. Plenty. On this forum or elsewhere. This guy is shooting rubbish for as long as I noticed him. His predictions are way out of reality.

[guoyu78]

I wouldn't take too much thought into this prediction. Remember what happened last year?

Everybody assumed BTC would go back to ATH after the tax due date? It rallied for a month and then started heading back down again.

Same for the prediction that it would rally from $6K in Nov-Dec 2018 because its usually when BTC has a bullish move. Instead what happened? The complete opposite and it was a nasty crash. And the crash was nasty due to all the over leverage people who assumed it was the bottom and were wrong and unless you used 1x leverage, you would of been most likely liquidated.

Actually, prediction works a lot and quite reliable especially when done though technical and fundamental analysis, if we look at fiat currency, it been quite easy to predict the market because of the level of stability it has attained, crypto too would have been easy if not for the level of dumping that goes on in the market and that is why it seems like we have lots of prediction that has not come to pass but if we are to go by the way the system should fully operate, those predictions could have been right, but now that we are still in a volatile market, what can we do?

Nothing but to still continue helping the market with positive prediction whether real or not.

[gabbie2010]

I like Tom Lee as a bitcoin bull but with his predictions, I'm not listening to him. Look at the comments of everyone here who's not impressed anymore with his predictions. We want the market to see its on good condition again and I guess this is just his way to attract the investors back.

Probably he's going to be right this time? or no? hehe. He should stop giving dates on when exactly the bull run will start because he's aware that it's nearly impossible to have that indication that bull run's about to start.

I think Tom Lee predictions is based some fundamental and technical analysis best known to him I believed he had done his home work before going out to publicly make such predictions however that does not means we should accept his predictions hook, line and sinker because in most cases bitcoin do defies any form of analysis.
His predictions is highly welcomed and will probably restore more confidence in potential investors as they will probably sees it as a green light ahead thus investing now.

[Herbert2020]

I wouldn't take too much thought into this prediction. Remember what happened last year?

Everybody assumed BTC would go back to ATH after the tax due date? It rallied for a month and then started heading back down again.

Same for the prediction that it would rally from $6K in Nov-Dec 2018 because its usually when BTC has a bullish move. Instead what happened? The complete opposite and it was a nasty crash. And the crash was nasty due to all the over leverage people who assumed it was the bottom and were wrong and unless you used 1x leverage, you would of been most likely liquidated.

Actually, prediction works a lot and quite reliable especially when done though technical and fundamental analysis, if we look at fiat currency, it been quite easy to predict the market because of the level of stability it has attained, crypto too would have been easy if not for the level of dumping that goes on in the market and that is why it seems like we have lots of prediction that has not come to pass but if we are to go by the way the system should fully operate, those predictions could have been right, but now that we are still in a volatile market, what can we do?

Nothing but to still continue helping the market with positive prediction whether real or not.

two things exist in your comment that are wrong.
first of all when someone is saying price is going to continue to rise when it has clearly stopped, the bubble has burst and the market is showing all signs of bear market. and similarly when someone insists on drop when market is clearly reversed and stopped at the bottom. both of these can not be true and it has nothing to do with the system and how it operates.

secondly, when it comes to predicting the whole market (meaning altcons included) it becomes nearly impossible to even speculate about them because no analysis works since 90% of them are purely pump and dumps and you can't predict that.

[sclmte]

Bitcoin is showing signs of slow recuperation. This could all potentially be leading up to what one analyst says will be another major bull run this coming August. That analyst is Tom Lee of Fundstrat fame. No stranger to our price pieces, Lee often comes with strands of controversy attached to his predictions. This time around, Lee is claiming all over again that bitcoin is set to spike. He comments that 2019 will be all about bitcoin trying to heal its wounds:

[bbc.reporter]

I reckon we need a new bitcoin price prediction expert to laugh on. Someone who is the opposite of Tom Lee hehehe.

Any suggestions? I need a bitcoin bear.

[OrangeSeller]

I will also agree with this article that there will be a breakout in the price of bitcoin from august because it is very close to my prediction which I said that the price of bitcoin will begin to experience a bull run when we least expect because it will happen in the fourth quarter of the year. I know that it doesn't look like we are going to see a breakout yet because the market is bearish, but it would happen and I am confidence of this.