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    Home News Bitcoin News

    Fundstrat’s Tom Lee Claims Bitcoin Price ATH “Not Too Far Away”

    Andy K by Andy K
    September 13, 2019
    in Bitcoin News, News
    Reading Time: 2min read
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    Tom Lee is certain that the next alt season will come only after the Bitcoin price prints a new ATH

    During his most recent appearance on CNBC’s Fast Money, Funstrat’s co-founder Tom Lee reiterated his theory that there is a direct correlation between crypto and the US equity market.

    The point of this tweet is to suggest that rooting for financial calamity may not be positive for the health of $BTC in the near term.

    – arguably better environment for #bitcoin ATH is a strong global risk rally. https://t.co/y5Yo5NepPz

    — Thomas Lee (@fundstrat) September 12, 2019

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    The longtime Bitcoin bull predicts that a new BTC all-time high would likely lead to another alt season.

    What will take it higher?

    CNBC’s Mellissa Lee asked the Fundstrat boss what was behind the sluggish Bitcoin price action in summer. In response, he suggests that the macro outlook was to blame.

    I think that Bitcoin kinda stalled recently as the macro outlook stalled

    He further explains that the next Bitcoin move will coincide with a “decisive breakout” in the equity market.

    According to Lee, the BTC price will hit a new ATH only after the S&P 500 achieves the same feat.

    Bitcoin does best when the S&P 500 is up more than 15 percent

    Will alts see the light?

    BKCM CEO Brian Kelly joined the conversation by asking Lee whether altcoins would rally in sync with Bitcoin. Lee claims that some of the alts are useful, but there is no “one-fits-all” approach for trading the whole group.

    So, I think that may end playing out is S&P hits an ATH, Bitcoin reaches an ATH, which is not too far away for Bitcoin. Then, I think it will likely lead to the start of an alt season.

    Continue Reading

    Tags: #Bitcoin Price#Tom LeeAltcoinAltcoinsbitcoinBitcoin all time highBitcoin alltime highBitcoin ATHBitcoin MoveBitcoin Tom LeeBKCM CEO Brian KellyBrian Kelly BKCMBrian Kelly CEOBTCBTC all time highBTC alltime highbtc priceCNBC MellissaEquity MarketFinancefinancialFundstratFundstrat bossFundstrat CEOFundstrat GlobalFundstrat Global AdvisorsFundstrat Global Advisors LLCFundstrat Thomas LeeFunstrat co founderLeeMellissa from CNBCS and P 500S&P 500ThomasThomas LeeThomas Lee FundstratTomTom Lee BitcoinTom Lee Fundstrat
    Share951Tweet594
    Andy K

    Andy K

    Andy is a former Forex Trader who got involved in the crypto industry early January 2013. Since then Andy has been writing about cryptocurrencies and blockchain technology within various online crypto news publications. He is also one of the main contributors to Cryptotelegraph.com

    Fun Fact : Despite other staff members helping themselves daily - Andy has a 'never-ending' container of 'Jelly beans' always sat on his desk, it's magic!

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