RATE Group | Bitcoin Price Has Maximum $22K Potential By End Of 2018, Says Tom Lee
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Bitcoin Price Has Maximum $22K Potential By End Of 2018, Says Tom Lee

24 Oct Bitcoin Price Has Maximum $22K Potential By End Of 2018, Says Tom Lee

Posted at 20:24h in Bitcoin News by

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Bitcoin could end 2018 at $22,000, Fundstrat Global Investors analyst Tom Lee repeated in new predictions about the end of the cryptocurrency bear market October 19.

Lee: 200-day MA ‘Very Important’

Speaking during an interview with social media blog Crypto Tips, Lee, who is known for his bullish stance on Bitcoin in particular, highlighted the 200-day moving average price trend as a key factor in determining its future performance.

“When Bitcoin’s below its 200-day, it only goes up 50 percent of the time in the next sixth months, but when it’s above its 200-day, it’s up 80 percent of the time,” he said referring to analysis produced by Fundstrat last week.

“The 200-day and the trend that’s implied by that is obviously very important.

Ethereum ‘Capitulated’?

Far from a continuation of this year’s price downturn, Lee added he thinks it is “more likely” that Bitcoin 00 would put in an unexpected climb.

That hypothesis runs counter to assumptions shared by…

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