Tom Lee does not waive the forecast $20 thousand to the end of the year and found a new indicator


Tom Lee does not waive the forecast $20 thousand to the end of the year and found a new indicator

Bitcoin needs not so much time, literally days to win back losses and to move into a phase of active growth, and hence the rate of $20,000 to the end of 2018 may still become a reality.

The founder of Fundstrat Global Advisors Tom Lee is not the person who easily changes the view of the opposite, especially in such matters as the prospects of bitcoin. Yes, the situation on kaptarenko not very favorable, but bitcoin is able to play any fall literally within a matter of days and to aspire to new frontiers. This is said, speaking as a guest of the TV program CNBC Fast Money.

“Bitcoin is able to reach the annual maximum of only ten days. So I still think it’s possible,” he said, answering the question as to whether sure in its previous forecast.

Value invented “misery Index bitcoin” (Bitcoin Misery Index, or BMI), of course, is now quite low of 36 points out of 100, that is, the bitcoin suffers quite badly, and from the point when bitcoin is priced to sell — 27 points — its just that big of a distance.

However, BMI is not the only indicator, which allows to judge about the state and prospects of the main cryptocurrency does. He said that found an interesting correlation of the exchange rate of bitcoin with a different index, the MSCI Emerging Markets Index, which reflects the state of securities markets in developing countries.

The dynamics of the UPS and downs of bitcoin and the emerging markets MSCI index has a lot in common, and kriptosistem worth a closer look at this indicator, says the head of research at Fundstrat.

According to him, emerging markets are a traditional field of activity of hedge funds, whose role in the cryptocurrency market has been increasing. Emerging markets and their securities are fairly risky investments. And when hedge funds reduce the amount of risky investments, leaving such papers, then they go out and out of bitcoin, I am sure.

The second point — the fall of quotations in stock markets revivalist countries. This reduction means that potential investors are getting less money, which, for example, they can buy bitcoins.

The indicator is interesting, but once the explanation was broadcasted by CNBC, it would be logical to mention about another correlation. Known capturador Jacob Canfield analyzed the correlation of the dynamics of bitcoin and tweets news headlines CNBC, devoted to this subject. The resulting conclusion is quite clear — CNBC misses 95% of cases, promising growth right before the collapse in prices and Vice versa.

To the credit of the management of the channel, they were not offended by the author of these investigations and filed for him in court, and even invited Canfield to participate in one of the thematic programs.

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