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Fundstrat Global Advisors Co-Founder Thomas Lee: Bitcoin Is Back in a Bullish Trend

Published 04/06/2019, 07:00 AM
Updated 04/06/2019, 07:22 AM
Fundstrat Global Advisors Co-Founder Thomas Lee: Bitcoin Is Back in a Bullish Trend
BTC/USD
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Fundstrat Global Advisors co-founder Thomas Lee said that Bitcoin (BTC) is back in a bullish trend during an interview with Bloomberg published on April 5.

During the interview, Lee pointed out that Bitcoin’s critics declared the cryptocurrency dead because it lost 90% of its value. However, it has now broken over its 200-day-moving-average, which is why he thinks sentiment has to change and that BTC is currently in a bull market. Lee noted that a tailwind for Bitcoin formed this year because the dollar wasn’t strengthening and China’s equity multiplier has been growing.

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