What has the greatest impact on the price of Bitcoin? The analyst
Source:In 2018, the popularity Thomas Lee has increased dramatically — co-founder of Fundstrat became widely known due to its incorrect predictions of the future price of Bitcoin. Even after he level of their expectations, the main cryptocurrency were unable to reach the mentioned goals.
This time Whether announced only an example scenario of possible developments. In a recent survey the analyst told about the connections of Bitcoin with growing markets and outlined the most important price level of a digital asset.
theWhen crypt will win promotions
According to Lee, the Bitcoin needs to grow at least to 10 thousand dollars to «catch up» markets.
Earlier this year, we noticed that the macro factors on the type of rally in risk assets and the dollar are not serious triggers the growth of Bitcoin. Looking at the chart, the dynamics of emerging markets, by contrast, have a significant effect on BTC. Please note, at the end of 2018, the Bitcoin attempted to establish a divergence, but this attempt was doomed to failure.
In Other words, emerging markets have played a major role in shaping the global downtrend cryptocurrency. However, after quite a long time line of Bitcoin prices and market dynamics still crossed.
CRYPTO (1/2): earlier this year, we noted the “macro” factors such as the rally in risk assets plus USD is no longer surging are tailwinds 4
The Chart shows EM in 2018 pulled down . Notice especially how tried to diverge in late 2018 but ultimately succumbed.
— Thomas Lee (@fundstrat)
According to Lee, this event can be considered a bullish sign for the currency.
The Main question is how strong will be the growth of Bitcoin on the basis of convergence.
Apparently, Bitcoin should grow at least 185 percent below the trades cryptocurrency consistent with the dynamics of emerging markets. In this case, the next important resistance level for the asset will be the area of its previous high price — 20 thousand dollars.
Today, Bitcoin is trading at $ 4062. For the past day the value of bitcoin has grown in the region of one percent. Auction amount of 8.97 billion dollars.
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