Tom Lee partner and lead analysis at Fundstrat Global Advisors thinks that after recovering to $12,000 the leading cryptocurrency in the world by market capitalization will soon see fireworks as it continues to move higher.
Lee explains that since crossing above $10,000 the cryptocurrency market has been graced with level 10 FOMO which is a level of positive sentiment only seen during 3% of the assets history.
Another analyst, Nunya Bizniz, pointed out an interesting fractal on Bitcoins one day chart, saying that 2018’s crash and 2019’s strong recovery is looking a lot like the price action seen in 2011 and 2012 which was the crypto market’s first full-fledge cycle.
If the price action of bitcoin fallows the same path it could see a 46% decline from its current market price which would bring it back to the $7,000 price range.
Headlines for the world of Cryptocurrencies - July 04, 2019
- The First Zero-Fiat Bitcon Bond In The World
- Etoro Adds Ethereum Tokens Into Its Platform
- UN Looking Into Blockchain Solutions For Afghanistan’s Infra Problems
- Cuba Looking Into Cryptocurrency
- Crypto Is Now Legal In Iceland
Headlines for the world of Cryptocurrencies - July 03, 2019
- Nestle Announces Own Blockchain Initiative
- CEO At Goldman Sachs Sees Blockchain As The Future Of Payments
- Russia Will Not Ban Libra
- Futures Contracts Soon For Binance
- London-based Crypto Asset Firm Gets UK Finance License
Headlines for the world of Cryptocurrencies - July 02, 2019
- One Block Transaction Has $6 Billion Worth Of Bitcoin Transactions
- Binance Executive Believes Bitcoin Has A lot more potential
- Scam BTC Ads With Abu Dhabi Crown Prince Removed
- Brave Rewards For Reddit And Vimeo
- Goldman Sachs Really Interested With Crypto
