Fund Lee’s managing partner and cryptocurrency enthusiast Tom Lee believes that after the recent strong growth in Bitcoin, the bulls have again begun to dominate the market.
Last Saturday, the rate of the first cryptocurrency grew by 30%, showing a record growth over the past few years. The price of bitcoin even exceeded $ 10,000. Now trading is at around $ 9,400, but, according to Tom Lee, in the near future the rate may again go up.
“There have been a lot of signals over the past few days: China’s friendly policy, new peaks of the S&P index, Bitcoin’s Misfortune Index (BMI) pushed off 36 and went up, a strong appreciation on Saturday. The bull market has resumed, ”- noted
Tom Lee on Twitter.
Note that the effect of the statements
Chinese authorities do not directly relate to bitcoin, however, it positively affects the blockchain industry. However, some believe that China did not affect the price of bitcoin.
“The sharp rise in bitcoin, most likely, has nothing to do with China or fundamental factors. I clearly see the manipulation of the market by large players who want to make a profit. With growth in a technically weak market, they will be able to sell bitcoin at an inflated price, ” declared
cryptocurrency skeptic Peter Schiff, who recently recognized
the advantages of bitcoin over the american dollar.
Earlier this month, Tom Lee said that there are both technical reasons that prevent institutional investors from entering the cryptocurrency market, as well as infrastructural ones. Moreover, one of the main reasons is the size of the market.
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