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Bitcoin seems to excite most influential characters in the cryptographic verse. After suffering a drastic fall in prices in 2017, BTC appears to have reached a stable zone around $ 3,000 to $ 4,000 and many badysts agree that after exceeding that threshold , the situation seems to be quite favorable.
Crypto Market News Cover and interview with Tom Lee, CEO of Fundstrat Global Advisors, at the Blockchain Economy Summit in Istanbul. The expert trader, known for his bullish statements during the fall in prices in 2018, has not changed his mind and said that current circumstances could be favorable to the rise in Bitcoin prices :
"I think we are going to recover in 2019 … I think 3900, that 's fine (but) it' s not there that we will end the year; I think it will be a lot more high. "
Tom Lee: Bitcoin (BTC) does not need an ETF (but it would be nice to have it approved)
He claimed that despite the optimism of many fundamental badysts, it is unlikely that a Bitcoin ETF will be approved this year. Although he did not explain the reasons that supported his point of view, he mentioned that this type of event is not necessary to catalyze a bullish race, although it is not necessary to catalyze a bullish race, although it is not necessary to He clarified that if an ETF was approved, the effects would be positive:
"I do not think that an ETF will materialize in 2019, so I think Bitcoin would actually benefit from an ETF, but it does not need an ETF to succeed this year. "
Many people expect the SEC to change tradition and soon approve a Bitcoin ETF. Currently, two proposals are in the study, one submitted by CBOE and the other by NYSE.
In addition, unlike in previous years, many SEC members have made favorable statements that have raised the optimism of many people who are seeing a Bitcoin ETF getting closer and closer.
The fundamentals look promising … but "the techniques are much more attractive"
The well-known investor said that in addition to the domestic market itself, external factors would have a positive impact on the prices of the BTC. Macroeconomic factors and the good performance of financial markets will play a decisive role as support for the Bitcoin price and its upward trend:
"I think a lot of things will support the price this year. You know, the first is what we call macroeconomic factors: the fact that global markets are rising, the global stock market is bullish for Bitcoin in the same way as the global stock markets of last year have fallen, and the Bitcoin has fallen … The dollar does not skyrocket as was the case last year, the weakening of the dollar is therefore a crosswind for Bitcoin.
The techniques are much more attractive, you know, bitcoin is bouncing back on its 200-week moving average, which is really a big support in traditional markets, and I think that will support the price of bitcoin here. "
He concluded by mentioning that the global recession could stimulate the public interest for cryptocurrencies; However, he said that in terms of volume, it would not have a significant impact.
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