The U.S. dollar index (DXY) could continue its slide in Q4, according to a classic technical setup known as a “rising wedge.” The greenback’s bearish prospects may boost Bitcoin’s (BTC) price to new all-time highs as it holds above $62,000. DXY poised for another 1.75% drop Rising wedges are bearish reversal patterns that begin wide at the bottom but contract as the price increases. As a result, the trading range narrows, which makes the rally unconvincing. That typically prompts the price to break below the wedge’s support line and later fall by as much as the maximum distance between the …

Fundstrat’s Tom Lee was the main highlight of last week’s Blockchain Economy 2020 event in Istanbul, Turkey. Taking the stage on day two, Lee addressed a crypto-savvy audience for about half an hour. Before delving into why Bitcoin (BTC) would see a price hike this year, Lee started his speech with a nod to the famous comparison between the internet and blockchain: “The most important generational trade over the next twenty years is going to stand around the disruption of the financial industry. And the most important of these technologies are going to be blockchain and crypto.” Those two topics …

Bitcoin (BTC) is going to reach 40,000 before the Dow Jones does, according to the analyst eyeing a 200% price jump by August 2020. Speaking to CNBC in an interview on Feb. 10, Fundstrat Global Advisors co-founder, Tom Lee, said that although the Dow would hit 30,000 points before Bitcoin hits $30,000, 40,000 was a different story. Lee: ‘I would not pick the Dow’ The Dow currently trades at 29,280, an all-time high, while BTC/USD is at $9,870 after hitting five-month highs of $10,150 over the weekend. Lee summarized: “My guess would be Dow, but if I had to say …

Bitcoin (BTC) is primed for average gains of almost 200% over the next six months, one of its best-known supporters has told mainstream media. Speaking to Yahoo! Finance on Feb. 4, Tom Lee, co-founder at Fundstrat Global Advisors, said one bullish technical factor, in particular, made him “really optimistic” about Bitcoin’s short-term potential. Lee: 200MA triggers 197% returns “Notably in January — January is usually a week month, it was a great month for Bitcoin, up 26% — but it also recovered its 200-day moving average,” Lee explained. “That’s a big deal as you know, as anyone who’s a trend …

Bitcoin (BTC) can deliver 100% returns to investors in 2020 and may rise significantly in the five months until May’s block reward halving, a new report claims. In its forthcoming 2020 Crypto Outlook, market research firm Fundstrat Global Advisors said it believed that the halving was not yet “priced into” the Bitcoin price. Fundstrat expects over 100% BTC gains The report is currently only available to the firm’s clients, with key findings uploaded to Twitter by co-founder Tom Lee on Jan 10. “For 2020, we see several positive convergences that enhance the use case and also the economic model for …

Fundstrat’s Tom Lee believes Bitcoin (BTC) will accrue price value following a similar logic to the Silicon Valley tech titans. During an interview for CNBC’s Street Signs Asia on show on Nov. 15, Lee argued that cryptocurrencies “are network value assets” — and share this with the world’s most successful tech stocks. “Network value assets” Lee — a renowned Bitcoin bull, co-founder and Wall Street strategist at Fundstrat Global Advisors — made his argument when asked about the logic behind Fundstrat’s $25,000 by 2022 forecast for Bitcoin. Noting that the number was set in 2017 as part of a five-year …

Having made a big move at the start of 2019, Bitcoin (BTC) now needs to consolidate its gains, argues Fundstrat’s Tom Lee. In an Oct. 22 interview for BlockTV, Lee — a renowned Bitcoin bull, co-founder and Wall Street strategist at Fundstrat Global Advisors — said that the levels of ebullience back in July were signs of an overheated market. Summer heat When pressed as to the reasons for Bitcoin’s relatively tepid trading in the aftermath of its strong summer uptick, Lee argued against the notion that sluggish uptake of Bakkt’s Bitcoin futures or a similar industry episode was to …

Fundstrat Global Advisors co-founder Tom Lee has stated that Bitcoin (BTC) is positively correlated with the S&P 500 market index and is not a hedge against macro turmoil. Lee voiced his opinion during an interview with industry news outlet The Block published on Oct. 1. Bitcoin moves according to macro factors During the interview, Lee admitted that his opinion is unpopular given that many believe Bitcoin to be a hedge against macroeconomic turmoil. That being said, while he agrees that some crises can have a positive influence on Bitcoin’s price — citing the crisis that took place in Cyprus — …

Fundstrat co-founder Thomas Lee tweeted a timely reminder against panic-selling on Sept. 28, reminding that the majority of Bitcoin (BTC) gains come in the ten best trading days of the year. In fact, excluding these ten best days, BTC is down 25% per year. Fundstrat’s ‘rule of 10 best days’ In any given year, the vast majority of gains in Bitcoin price come in just the ten biggest trading days, according to this rule. During the last bull market of 2017, price rose an incredible 1,136% in those ten days. But even during the bear market of 2018, the best …

Bitcoin (BTC) and cryptocurrency will gain trust from the incoming launch of institutional trading platform Bakkt, a well-known analyst has said. More praise for Bakkt In a tweet on Sept. 19, Fundstrat Global Advisors co-founder Tom Lee joined the increasing number of Bitcoin figures bullish about Bakkt’s impact on the space. The platform goes live on Sept. 23, and will first offer physical Bitcoin futures. Investors, who have been able to deposit funds since Sept. 6, will take delivery of payouts exclusively in BTC. The remaining days to launch have so far been characterized by lackluster progress for Bitcoin markets, …

Wall Street strategist and co-founder of Fundstrat Global Advisors Thomas Lee has argued that a strong macro outlook will provide the tailwinds for the next Bitcoin (BTC) bull run. In an interview for CNBC’s Fast Money on Sept. 13, Lee broke with the narrative that investors buy into Bitcoin to hedge macro risks — viewing the asset as a safe-haven asset or type of digital gold. Instead, he argued that investors buy into the cryptocurrency when they feel optimistic about the wider economy, geopolitics and industry and traditional markets are booming: “Bitcoin has stalled recently because the macro outlook has …

Bitcoin (BTC) prices will never make it to $50,000, gold bug and crypto skeptic Peter Schiff has claimed in the latest attack on the world’s largest cryptocurrency. “This is hysterical” In a social media debate on Aug. 20, Schiff, who is well known for his dislike of Bitcoin, said that gold will definitely reach $5,000 in the future. Schiff was debating with Joe Kernen, the CNBC host who recently interviewed Bitcoin proponent and regular Schiff troll Anthony “Pomp” Pompliano. “Prior the 2008 financial crisis, when I was still invited on CNBC, Joe was critical of my advice to buy gold. …