The representative of Fundstrat: in 2019, will begin a massive restoration of Bitcoin

In the first of April, Bitcoin finally crossed the mark of $ 5,000. Against this background, the head of research at Fundstrat Global Advisors Tom Lee is again actively talking about Cryptoprotected. Leading industry analyst in a recent interview with Cointelegraph said BTC expects “pretty solid recovery” in the next 8 months.

First, he argues that the index of confidence in Bitcoin (BMI), which is used in his company. The second of April, this figure reached 89 (very positive). It happened when Bitcoin is arranged for a local uptrend and broke a few resistance lines.

This is the highest figure since June 2016, which may indicate a General bullish sentiment in relation to cryptocurrencies. Further, as noted by Lee, Bitcoin overcame its 200-day moving average, which currently stands at 4600 dollars. In any market, people tend to think about the positive trend of the instrument/asset, if it breaks the 200 SMA.

This suggests that Bitcoin will recover faster than we expected. And the cycle of recovery will not be significantly different from the previous one.

See also: Kryptonim ended on Bitcoin at $ 3,000. It specifies the index of confidence in the cryptocurrency.

While Tom Lee expressed confidence in the imminent recovery of Bitcoin, as the fundamentals (network activity and prospects of the transaction) grow and the ecosystem of cryptocurrency is evolving.

Fair price of Bitcoin is 14 thousand dollars?

So, Bitcoin will certainly grow, but what kind of prices should be expected in the near future? Tom Lee vowed not to give accurate predictions, but according to him in the near future, Bitcoins will reach 14 thousand dollars. This level is fair given the fundamentals of the asset.

The current rate of coins can be found in our classroom ranking of cryptocurrencies. And cryptodata of hontarov there are other useful data.

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