Bitcoin exceeded the average and recorded 197% profit in 6 months

The crypto market registered a positive start of the year, with price increases for most cryptocurrencies. February seems to continue this trend.

In the last 24 hours, Bitcoin has returned over $ 9500. Some altcoins show increases of over 10%. BCH increased by 14% and traded above $ 436, and BSV exceeded $ 300 after an 11% increase.

Tezos follows their example, with an advance of almost 15% in 24 hours, up to the value of $ 2.23. ETC received a boost of over 12% and is approaching $ 13.

Overall, the crypto market has exceeded the total valuation by $ 270 billion, and the signals are positive for the future.

Tom Lee: Bitcoin has exceeded the 200-day average

Fundstrat Global Advisors co-founder Tom Lee is well known for his optimistic price forecasts. On February 4, Lee told Yahoo Finance that he is “really optimistic” about BTC short-term prices:

“January was a wonderful month for bitcoin, which is up 26%. Bitcoin has exceeded the 200-day average. This is an important aspect, as anyone who follows the trends knows. Each time Bitcoin exceeds its 200-day average, its six-month average gain is 197%, “

said the Fundstrat executive.

Highlight: “really optimistic about crypto and bitcoin this year,” @fundstratTom Lee says Global Advisors Managing Partner & Head of Research. “Whenever bitcoin breaks back into its 200 days, its average six-month gain is 197%.” pic.twitter.com/2tqzsuOV0m

– Yahoo Finance (@YahooFinance) February 4, 2020

For his part, investor Andy Edstrom believes that Bitcoin has the opportunity to expand its market cap over other securities.

In a Bitcoin Citizen podcast, he argued that hyperbitcoinization will happen.

“Bitcoin will grow by taking value from gold or fiat, offshore assets or other value deposits such as real estate,”

explained Edstrom.

Investment manager Wescap noted that severe geopolitical tensions and fiat mass printing could push more people to BTC. Edstrom also wrote a book called “Why Buy Bitcoin”.