Tom Lee Says Bitcoin Will Hit $10,000 in 2019


Finally the long winter is over…….

Bitcoin has gained more than 35 percent since the starting of 2019. The total crypto market gains more than $70 billion in the past four months. The major positive profits change the market sentiments and many analysts believe that 2019 is a bullish year for the whole crypto market.

Bears Are Dead

Fundstrat Global Advisors Tom Lee believe that the longest bear market of Bitcoin History is over. Lee claims that the Bitcoin market is turning bullish on the charts.

Tom Lee said in an interview that the S&P 500 standard deviation is 2.5 percent (to the date) and investors those are looking for more profits and volatility will be ready to enter the crypto market.

bitcoin chart and price
Source: Trading View

Tom Lee is well known for making Bitcoin forecasts. Tom believes that Bitcoin will trade above $10,000 in 2019 at some time. According to Tom Lee, the fair value of Bitcoin is around $14,000 as per the mining cost.

Earlier in April Lee said that the market sentiments are changing to positive. The market is pumped by a guy who buys $100 million worth of Bitcoin and pushes the price to a new high of the year.

Bitcoin is now trading above the 50, 100 and 200 MA (Moving Average). This is a good bullish sign. The bears are not in control anymore.

Many analysts and crypto traders believe that the next bull is started but there are some important issues with mass adoption.

Investment chief at Digital Currency Group Travis Scher says that common people need more education about Blockchain technology and Cryptocurrencies.

Scher commenting on this:

It’s a matter of education, realistically speaking, the average person on the street doesn’t know much about blockchain technology, but that’s no different from Internet-related stocks in the late ’90s.

Also Read: Binance Officially Announced to Delist Bitcoin Satoshi Vision (BCHSV)

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