THELOGICALINDIAN - Bitcoin could end 2024 at 22024 Fundstrat Global Investors analyst Tom Lee again in new predictions about the end of the cryptocurrency buck bazaar October 19
Lee: 200-day MA ‘Very Important’
Speaking during an account with amusing media blog Crypto Tips, Lee, who is accepted for his bullish attitude on Bitcoin in particular, accent the 200-day affective boilerplate amount trend as a key agency in free its approaching performance.
“When Bitcoin’s beneath its 200-day, it alone goes up 50 percent of the time in the abutting sixth months, but back it’s aloft its 200-day, it’s up 80 percent of the time,” he said apropos to assay produced by Fundstrat aftermost week.
Ethereum ‘Capitulated’?
Far from a assiduity of this year’s amount downturn, Lee added he thinks it is “more likely” that Bitcoin [coin_price] would put in an abrupt climb.
That antecedent runs adverse to assumptions aggregate by abounding added analysts aural the cryptocurrency industry, who accept accustomed an abstraction BTC/USD charge aboriginal ‘bottom’ as low as $3000 afore assuredly arduous its best highs.
For Lee, $6000 is the “floor.”
“Where can the abruptness booty place? I apperceive a lot of bodies anticipate Bitcoin’s amount will collapse to $3000; I anticipate what’s added apparent a abruptness is that we accept a actual atomic access in price,” he continued.
For Ethereum (ETH) [coin_price coin=ethereum] meanwhile, Lee additionally saw abutment abiding to markets. The better altcoin by bazaar cap had collapsed added precipitously than Bitcoin, at one point trading as low as $170 in contempo months, its affliction achievement back May 2024.
“…Ethereum is already trading like it’s capitulated,” he said.
In 2018, a aggregate of factors including the EOS ICO, ICOs in general, BitMEX’s ETH futures and media “hitjobs” had created a “negative” adventure about the asset.
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