Tom Lee said Bitcoin Misery Index Never Been Reported in Bear Market

[DreamStage]

Fundstrat Global Advisors founder Tom Lee pointed out that the value currently reported by his company’s bitcoin sentiment indicator Bitcoin Misery Index has never been seen in a bear market.

During the interview, Lee noted that through 2018, the BMI has not been over 50, while it now recently touched a value of 89. According to Lee, values over 67 have never taken place in a bear market.

He concluded: “It means that a bull market is likely starting.”

According to Lee, there are various reasons for the recent trend inversion in the crypto market. For instance, he mentioned that old and wealthy bitcoin wallets have recently started adding BTC, and that transaction activity has begun increasing along with crypto exchange volumes.

Tom Lee: “Bitcoin Can Retain Its Old Highs” Interview: https://youtu.be/uv9fyNAbVBo

Full News Source: https://cointelegraph.com/news/fundstrats-tom-lee-current-bitcoin-misery-index-never-been-reported-in-bear-market

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[pushups44]

Tom Lee was overly optimistic last year, but his long-term bullishness is warranted. The price of bitcoin just happens to be extremely difficult to predict given that it is a new asset just starting to define itself. I agree with him that more likely than not we are in a bull market with the price above the 200 DMA.

[rrr222]

Why would anyone listen to this person? Usually wrong and by a lot. Never trust predictions about the future of cyrpto from any one person or group.

[fuathan]

We are not in the bull market. Also, we are not in the bear market. We are somewhere in the middle and from this point, we will only have a bull market in the near future.

Halvening will support that too... My prediction (and also time trend says that too) is the bull market will start in 2-3 months. In a year, a mega-bull market will start sometime around November 2020.

[Ailmand]

I think whales are starting to accumulate more BTC now since they are seeing the start of market recovery and the bull-market just sitting around the corner. A lot of people are bullish when they speculate about bitcoin. I don't actually care if the bull market won't happen soon as soon as we can see progress in the market even at a slow pace.

[jubilarian]

I think what he said to reference . I have only followed the chart and price line to predict. Let's see what happened in 2017 and first of 2018, a lot of positive price but the result is bearish market.

[carlisle1]

"Fundstrat Global Advisors founder Tom Lee pointed out that the value currently reported by his company’s bitcoin sentiment indicator Bitcoin Misery Index has never been seen in a bear market.
During the interview, Lee noted that through 2018, the BMI has not been over 50, while it now recently touched a value of 89. According to Lee, values over 67 have never taken place in a bear market.
He concluded: “It means that a bull market is likely starting.”
According to Lee, there are various reasons for the recent trend inversion in the crypto market. For instance, he mentioned that old and wealthy bitcoin wallets have recently started adding BTC, and that transaction activity has begun increasing along with crypto exchange volumes."

Be carefull with all this opinions and charts and speculation they can create anxiety and then you may end up selling your coins too early.
If you watch the long term price of BTC, the only thing you need to do, is hold your BTC and some altcoins and you will be fine.

Is this a quote or you just re type the body of the topic to make your post look like long?better edit this now or you will suffer the consequences

Tom Lee has been a bullish in regards to crypto and ofcourse specially with bitcoin things that normal to the man,and i agree on this release than we are maybe in bullmarket as the prices seemingly not in a normal movement but we must always remember that all of this are speculative and nothing is proven unless things happens

[joshv06]

We are not in the bull market. Also, we are not in the bear market. We are somewhere in the middle and from this point, we will only have a bull market in the near future.

Halvening will support that too... My prediction (and also time trend says that too) is the bull market will start in 2-3 months. In a year, a mega-bull market will start sometime around November 2020.

You are right, we are in the Middle phase of the market which looks like a descent one in the second quarter, and I personally feel the value will pump again in the third quarter if this happen then I am sure we can see a massive pump in the last quarter.

[Remainder]

He concluded: “It means that a bull market is likely starting.”

According to Lee, there are various reasons for the recent trend inversion in the crypto market. For instance, he mentioned that old and wealthy bitcoin wallets have recently started adding BTC, and that transaction activity has begun increasing along with crypto exchange volumes.

Tom Lee: “Bitcoin Can Retain Its Old Highs” Interview: https://youtu.be/uv9fyNAbVBo

Full News Source: https://cointelegraph.com/news/fundstrats-tom-lee-current-bitcoin-misery-index-never-been-reported-in-bear-market

I thought for the past 3 weeks, BTC prices breaks resistance level from time to time and reaches a new highs. Base on the charts and the sentiments of a lot of holders like me, the psychological effect is to respond to the small bullish signals that is currently present.

[Yaunfitda]

I really like Tom Lee's bullish sentiments, but sometimes you have to draw the line between a realistic predictions and perma-bulls exorbitant price forecast. 

@Remainder, we have been in the bullish and breaking resistance for the last 7 weeks, https://bitcointalk.org/index.php?topic=5129663.0. We are somewhat entering the 10th week if I'm not mistaken.

[antisocial77]

market doesnt care what those speculators says anymore. positive nor negative it doesnt matter.because all we know that they tries to manipulate people as they will.

[Haunebu]

I really like Tom Lee's bullish sentiments, but sometimes you have to draw the line between a realistic predictions and perma-bulls exorbitant price forecast. 

@Remainder, we have been in the bullish and breaking resistance for the last 7 weeks, https://bitcointalk.org/index.php?topic=5129663.0. We are somewhat entering the 10th week if I'm not mistaken.

How is his prediction not realistic? Did he mention that Bitcoin will touch $10k or $20k in a few months? Clearly not. In many ways, his prediction is completely realistic since many are excited about the upcoming halvening event next year which can start a huge rally.

[Bitinity]

Should we care about his prediction after he did it really wrong last year? To be honest, I never care about price prediction by everyone no matter he is a bitcoin/crypto expert or something else.

[DBronze98]

The analysis from famous analysts is always true. Based on the analysis they give correct or approximate results when they anticipate the next trend of the market. The transaction volume of Bitcoin has increased by 80% this month when rising from $ 8B to $ 14B. I believe in the prediction: "It means that a bull market is starting. "

[takngantuk]

Tom Lee was overly optimistic last year, but his long-term bullishness is warranted. The price of bitcoin just happens to be extremely difficult to predict given that it is a new asset just starting to define itself. I agree with him that more likely than not we are in a bull market with the price above the 200 DMA.

last year he was indeed too optimistic. but for the future I agree with you the bull will come as soon as possible. still many people believe in bitcoin and the number continues to increase every day. if not this year, maybe a bull will happen next year. considering there is a big agenda that will happen to bitcoin. that could be the main reason for the next bull.

[BrewMaster]

Tom Lee literary invented the misery index for bitcoin to justify his speculations which mostly were wrong in the past specifically during 2018 which he insisted on setting a new ATH by the end of that year which was clearly impossible although he didn't want to accept it.
now he is doing the same thing although this time he is at least going with the market instead of against it like in 2018 since price is already rising.

[dothebeats]

Tom Lee has always been bullish for bitcoin despite the prevalence of bearish sentiments lingering all over the market even though his predictions are a bit off from the movement of the market, yet he never swayed position, ever. BMI was created in order to gauge the market sentiment for bitcoin at a given period in time, and maybe this is just me but I think the said index is biased towards the side of the bulls that's why things don't favor the bears on this one. Anyway, the market seems to be shifting towards a bullish movement lately, and that is evidenced by the thinning sells and aggressive buys (though it's a shame that we haven't crossed $5500 resistance yet after so many attempts recently.)

[Beerwizzard]

Transaction activity does not determine Bitcoin price. People can send BTC to each other, buy some goods in shops or exchange it on p2p exchanges like localbitcoins that does not have their own rates and does not determine the BTC price. BTC doesn't have to rise in this case.
BMI is also not a public thing so we don't know how it is calculated and it may be either wrong or used in attempts to manipulate the market.

[Slow death]

Just this year he already said this:

MAR 15, 2019

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

APR 06, 2019

Fundstrat Global Advisors Co-Founder Thomas Lee: Bitcoin Is Back in a Bullish Trend

APR 12, 2019

Tom Lee’s Bitcoin Misery Index Hits Highest Value Since 2016 in Possible Bull Signal

I wonder how long it would take for him to go back to making super-exaggerated predictions

[Searing]

Just this year he already said this:

MAR 15, 2019

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

APR 06, 2019

Fundstrat Global Advisors Co-Founder Thomas Lee: Bitcoin Is Back in a Bullish Trend

APR 12, 2019

Tom Lee’s Bitcoin Misery Index Hits Highest Value Since 2016 in Possible Bull Signal

I wonder how long it would take for him to go back to making super-exaggerated predictions

Yeah, he 'supposedly' makes his claims by past actions on BTC. But then again if that worked..there never would have been issues with 1999

dot com crash nor this last deep recession we had that started in 2007, back when.

He has NEVER as far as I can tell, posted a 'bear' position. Just saying. Hope he is dead on, but dubious of his 'methods' on all his predictions.