Kvě 30

Bitcoin Dominance Slips 5% as New ‘Altseason’ Taking Shape

Altcoins are shooting up in value in the past couple of weeks as Bitcoin dominance has slipped 5 percent. During the past 90 days, almost all major altcoins are marking notable double and even triple-digit percentage increases hinting at a possible ‘altseason.’


BTC Dominance Down 5% 

Altcoin season is a period in the market cycle, where other cryptocurrencies outperform BTC even as bitcoin is increasing in price.

During this period, BTC dominance, which is measuring Bitcoin’s relative share in the entire cryptocurrency market, is traditionally lower. In the meantime, altcoins are gaining strength and further momentum.

At the time of this writing, BTC dominance stands at around 55 percent. This marks a decline of about 5 percent in the last two weeks.

Bitcoin dominance still maintaining above 50%

It’s also worth noting that this comes at a period during which Bitcoin’s price has actually increased. Since May 14th, BTC is up almost 10 percent. Yet, despite the increase, its overall share in the total market has declined.

At the same time, as Bitcoinist previously reported, the market dominance index does not always paint an accurate picture of the market. Other indices, for example, put BTC well over 80 percent.

Is ‘AltSeason’ Upon Us?

Nevertheless, the fact that BTC market cap is slipping is a sign that altcoins are starting to catch up. Moreover, during the past 90 days, it also appears that the value of many major altcoins against the USD has also increased significantly.

Therefore, traders are now asking whether so-called altseason is upon us.

As seen on the above graph, some of the major gainers in the last three months include Bitcoin Cash (BCH), Binance Coin (BNB), EOS, Litecoin (LTC), DASH, and others.

The relatively short-term strength of altcoins, as well as the fading BTC dominance, could signal that an altcoin season is, indeed, taking shape.

Looking at the bigger picture, however, reveals a completely different story. During the last 12 months, most of the altcoins mark substantial losses in the range between 35 and 70 percent. Bitcoin, on the other hand, has posted impressive gains since its yearly lows of around $3,200 at the start of the year.

Moreover, altcoins tend to follow BTC’s performance and if Bitcoin sneezes – every altcoin catches a cold.

Bitcoin Still The Safest Play

While altcoins might be a good opportunity for some quick gains, the truth is that timing the market remains particularly challenging.

That’s perhaps best exemplified by Twitter user Marc de Koning (@Koning_Marc), who recently shared his experience of investing 1 BTC in 50 different altcoins each back in mid/late 2017.

“Out of 50 coins that each had 1 BTC put in, the overall current value is between 0.02 and 0.3 BTC per bag. Many coins delisted except for dexes which no one uses.”

The user didn’t share in which altcoins he had invested in per se, but the fact that out of 50 coins he had marked losses in the range of 70 to 99 percent speaks for itself.

Bitcoin, on the other hand, remains the best performing cryptocurrency. As Bitcoinist recently reported, it’s up 700 percent since January 1st, 2017. Furthermore, BTC is outperforming the stock market this year by an eye-popping 1000 percent.

What do you think of altcoins? Do you hold any? Don’t hesitate to let us know in the comments below!


Images via Shutterstock, Messari.io

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Kvě 30

Wall Street Bitcoin FOMO: Grayscale Gobbling Up 21% of Newly Mined BTC

Grayscale Bitcoin Trust (GBTC) is now buying up about 21 percent of newly mined BTC monthly suggesting increasing demand from Wall Street.


Insatiable Wall Street Appetite for Bitcoin

According to a Wednesday (May 29, 2019) tweet from Bitcoin analyst Rhythm, Grayscale bought more than 11,000 BTC in April 2019. With 54,000 BTC being mined per month, the largest cryptocurrency asset manager is buying up about 21 percent of the Bitcoin monthly supply.

This proportion represents a significant uptick in institutional BTC accumulation especially given the current price surge. It appears institutional interest is playing a leading role in the 2019 BTC price gain whereas the late 2017 bull market was most likely due to retail FOMO.

If Grayscale continues buying up BTC at the current rate every month then it could own 42 percent of the Bitcoin monthly supply post-2020 halving.

As reported by Bitcoinist on Wednesday, the GBTC premium now stands at about 37 percent of the retail spot market. Each share is currently worth 0.00098247 BTC which corresponds to about $11,600 for a whole Bitcoin.

With GBTC being eligible for some investment retirement accounts (IRA), the 37 percent premium might not constitute a significant bother for Wall Street and institutional buyers.

This insatiable institutional appetite seems to be mostly focused on Bitcoin. On Tuesday, Grayscale published an update showing that its BTC Trust was about 94 percent of its $2.1 billion asset under management (AUM).

Tuesday’s update also meant that its AUM had doubled in less than two months. Back in April, Grayscale announced that its AUM had crossed $1 billion for the first time since late 2018. Grayscale’s highest ever AUM was north of $3 billion during the bull market of late 2017.

Whales Accumulating BTC

In a related development, research published by cryptocurrency newsletter Diar shows that whale wallets were quietly accumulating BTC during the 2018 bear market.

Whale Wallets Accumulating Bitcoin During 2018 Bear Market

This conclusion comes from the increase in “Firm Size” Bitcoin address – wallets holding between 1k BTC and 10k BTC during the bear market period. According to the research, whales now hold $6 billion in BTC more than they did in August 2018 – corresponding to about 26 percent of the total Bitcoin circulating supply.

Earlier in May, Bitcoinist reported that the BTC “one percenters” were increasing their holdings with massive inflows and only a trickle of outgoing transactions. At the time, Bitcoinist even surmised that such outflows might even be attempts at breaking up their Bitcoin bags.

Will the increased institutional Bitcoin acquisition push the price to a new ATH in 2019? Let us know in the comments below.


Images via Twitter @Rhythmtrader, @GrayscaleInvest and Diar

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Kvě 29

Why Facebook’s Foray into Crypto Could be Fruitless

Mainstream media was abuzz last week with the news that Facebook has plans to launch its own digital token, ‘GlobalCoin’. This highlights the ignorance that big news outlets have, as Facebook really is ill-suited to have anything close to what we consider cryptocurrency.


Cryptocurrency by nature is a mathematically secure, disruptive peer to peer technology designed to act as a decentralized form of finance. Facebook is a million miles away from these concepts as it is highly centralized, highly censored, highly insecure, and largely untrusted. Any currency the social media monopoly produces of its own are likely to have the same traits.

Wrong Demographics

Recent research suggests that the Facebook user base is shifting demographically. The latest report by research firm Diar implies that Facebook’s foray into crypto could be fruitless. Quoting figures from Pew Research Center Diar added,

Facebook will be facing an uphill battle on multiple fronts, primarily starting from an aging user base whose knowledge of cryptocurrency likely to be near nil.

The platform has lost its dominance in the US teen market as numbers dwindle in favour of alternative social media outlets such as YouTube and Snapchat. Teens the do use it are unlikely to be in the financial position to be loading up on Facebook stablecoins either.

facebook mark zuckerberg

The report adds that the number of retirees that have flocked to Facebook has doubled since 2012. There are very few in that category that even know what cryptocurrency is, let alone tech savvy enough to be able to use it as Diar points out;

Educating 25% of the world’s population about current cryptocurrency infrastructure that requires private-key management and the glaring reminder of the possible ultimate loss of funds is also unlikely as it would result in the project’s near instant failure.

GlobalCoin: Escalating Worries

Some big name news outlets have compared GlobalCoin to Bitcoin claiming that to could possibly be a competitor. The two could not be more different, Bitcoin transactions cannot be stopped as the blockchain is immutable by design. Facebook, like Paypal, will have full and total control over any funds deposited and converted into its new coin.

Considering its reputation with safeguarding personal data it would be pertinent to say that Facebook is not in the position to handle large scale finance. Diar picked up on this also adding;

The ownership of data by corporates using it to profit is just one of the anathemas to the decentralized ideology.

Over the past year or two Facebook has been embroiled in scandals involving major data privacy violations, security breaches, censorship, and fake news dissemination. How many people of sane mind are likely to trust it with their hard earned?

Would you use a crypto coin owned by Facebook? Add your comments below.


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Kvě 28

Bitcoin Officially Mainstream As Microsoft Adds Excel Currency Option

So now it’s official. Bitcoin has finally become truly mainstream. Microsoft has added it as a currency option in Excel.


Bitcoin’s Path To Mainstream Status

There are a number of hurdles one must overcome to become truly mainstream, and Bitcoin just crossed the big one. Microsoft has added the cryptocurrency as a currency option in its Excel spreadsheet program.

Here are just some of the other important steps to mainstream acceptance that Bitcoin has attained:

  • Celebrity endorsements – From dead rappers (a big plus), to Miss Universe, to the latest influx of NFL stars. They all love(d) themselves a bit of Bitcoin.
  • Be more popular than Star Wars, Ed Sheeran, and the British Royal family. And Elon Musk.
  • Be seen in Starbucks – Okay, so we’re still waiting for this one, but we’ve been promised it’s on the way.
  • Feature in a Kurt Russell film – An often overlooked, but nevertheless essential step into the heart of the people. Post-apocalyptic dystopias would be nowhere without Russell.

Microsoft ❤︎ Cryptocurrency

Of course, Microsoft has long had its beady corporate eye on the crypto-space. Back in 2017, it set out an ambitious strategy to jump on the blockchain bandwagon. Most recently, this has seen it become an integral partner in several luxury brands’ move into blockchain authentication.

Secure Boot

On a more Bitcoin-specific note, it is developing a Digital ID system on the Bitcoin blockchain and is a major investor in the Bakkt Bitcoin-futures platform.

Not forgetting that Bing is one of the market leaders when it comes to blocking cryptocurrency ads… no wait, hang on.

Naturally, the cryptocurrency community has shown a healthy amount of skepticism when it comes to Microsoft. After all, the company does have some previous when it comes to adopting popular ‘new’ technologies.

In general, the modus operandi has been:

  • Technology becomes popular
  • Microsoft wishes it had thought of the idea first
  • Microsoft tries to buy the technology, with no success
  • Microsoft creates its own poorly implemented version of the technology
  • Poorly implemented version becomes the industry standard

So you can see why folk are concerned… Still, surely Microsoft can’t mess up the simple addition of a currency symbol?

And this does mean we finally hit the big time, baby!

Have you tried bitcoin in Microsoft Excel? Share your experiences below!


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Kvě 27

‘Encrypto’ By Franck Muller Joins The Ranks of Bitcoin Luxury Watches

Popular Swiss watchmaker Franck Muller has teamed up with alternative investment company Regal Assets to release what’s touted as the first functional Bitcoin watch. 


Enters “Encrypto”

Pioneer luxury watchmaker Franck Muller has partnered up with alternative investment company called Regal Assets to release a timepiece called “Encrypto.”

The watch itself was designed by Frank Muller and the dial features the QR code of Satoshi’s Genesis Block address.

More interestingly, the watch is intended to serve as a cold wallet for storing Bitcoin. According to the official release, each watch comes as a two piece set which includes a unique public address etched on the dial, as well as a sealed USB which contains the private key. It’s also important to note that users can check their balance directly through the dial.

Speaking on the matter was Erol Baliyan, regional director of Franck Muller, who said:

We always aim to impact the customer at an emotional level and create a bond between the customer and the timepiece. As a brand, we are a trend maker with a solid track record and are not shy when it comes to adopting innovation. Bitcoin is the millennial gold is the perfect marriage between innovation and personal choice.

The price for an Encrypto watch starts at $9,800 and it goes all the way up to $50,600. The latter price, however, will get you the diamond encrusted version. You can buy the watch with a credit card, bank transfer, and, of course, with Bitcoin.

The Swiss watchmaker is also reportedly exploring other crypto-themed models which will offer support for other top cryptocurrencies.

Other Bitcoin Watches

Franck Muller is not the only watchmaker to go down the Bitcoin road. Back in 2018, Bitcoinist reported that renowned company Hublot has released a limited edition timepiece called Big Bang. It was intended to commemorate Bitcoin’s 10th anniversary.

This one also came with a rather hefty price tag of $25,000. Unlike Encrypto, however, Hublot’s Big Bang could only be bought with Bitcoin and no other currency.

Cryptomatic ‘Hodler’ watch

Of course, there are other Bitcoin-themed watches such as Cryptomatic, which were the first mechanical time-pieces to sport the Bitcoin ‘B’ logo and at a much more affordable with a price point under $1,000 dollars.

What do you think of Franck Muller’s Encrypto Bitcoin watch? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock; Franck Muller

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Kvě 25

Bitcoin Outperforming the Stock Market By a Whopping 10 Times in 2019

Getting towards the end of the first half of 2019 and Bitcoin has outpaced the stock market by almost 10 times.


2019 Scorecard: Bitcoin 111%; Stock Market 12%

Tweeting on Friday, Morgan Creek Digital CEO Anthony Pompliano noted that Bitcoin price 00 is up by about 111 percent in 2019. Meanwhile, by comparison, stocks have risen only 12 percent within the same period.

Between April and May alone, BTC has added $2,000 to its market price. Such is the extent of Bitcoin’s 2019 run that as eToro’s Mati Greenspan puts it:

At this point, a $200 move in the price of Bitcoin could easily lead to a move of $2,000.

Speaking recently to CNBC, billionaire venture capitalist Tim Draper pointed out the emergence of investor fatigue for some of the companies like Uber that have newly gone public.

According to Draper, established brands going public aren’t going to experience massive price growths. Instead, Draper expects stock value increases between 10 and 20 percent.

Bitcoin bulls, however, don’t envisage any price fatigue for the top-ranked cryptocurrency by market capitalization. BTC has so far remained in close proximity to the $8,000 mark in May despite a few downward retracements.

BTC is a Great Diversifier

In an interview with CNBC on Wednesday (May 22, 2019), Mark Yusko, the Managing Director of Morgan Creek Capital Management described BTC as a great investment portfolio diversifier.

As previously reported by Bitcoinist on several occasions many commentators have said that BTC ought to constitute at least one percent of every investment portfolio.

Yusko also espoused sentiments similar to Pompliano’s saying Bitcoin is a better investment bet than stocks. Back in early 2019, Yusko highlighted Bitcoin’s potential, calling it the greatest wealth opportunity of our time.

Stock Market Decline Imminent

Bitcoin’s stock as a great investment portfolio diversifier might come into even more significant prominence on the back of an imminent market decline.

According to Yusko, the Federal Reserve saying they are closer to slashing interest rates indicates the emergence of economic weakness.

Central banks across the world from Japan to Australia and even the European Central Bank (ECB) are also reportedly on course to adopt similar dovish monetary policies.

The historical precedence shows that rate cuts tend to lead to market weakness as seen in 2001 or even full-blown meltdowns like in 2008.

For people like Travis Kling of Ikigai Asset Management and Max Keiser, BTC represents a hedge against the fallback from such “irresponsible” central bank policies.

By how much do you predict that Bitcoin will outperform the stock market at the end of 2019? Let us know in the comments below.


Images via Shutterstock, Twitter @APompliano, @CNBCFastMoney

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Kvě 24

University Students Choose One Dollar Over One Bitcoin

YouTube channel, Capital Creators, performed an experiment offering students the choice of one dollar or one bitcoin. The overwhelming majority chose the dollar.


So this is the part where I mercilessly mock the US education system and berate US students for being so dumb, right? Well actually, no. It would seem far more productive to address why the students valued the dollar more, and help them to make the right choice next time.

Reasons One Might Choose $1 Over 00

Well, actually around $5400 when the video was shot, but you get the idea. Why did the majority of CU Boulder students want a dollar rather than a bitcoin?

One of the most common answers given was that the dollar was there and physical, and the respondent knew the value of it. So did the students think the value of a bitcoin was less than a dollar? Surely the majority must have been aware of bitcoin when it hit $20,000 and mainstream media? Did they really think it had dropped to nothing?

In reality, those asked simply didn’t understand or know enough about Bitcoin to assign it a value. The mainstream media’s generally negative or non-existent coverage meant that Bitcoin just wasn’t on their radar anymore.

Bitcoin Is Risky, But A Dollar Gets Me A Snack

One respondent vaguely knew that bitcoin is password-protected, and forgetting the password would mean losing her bitcoin. However, she reasoned that she wasn’t going to lose a dollar… because of course, nobody’s ever lost a dollar.

Many people reasoned that a dollar could get them immediate gratification in the form of a snack from the vending machine. This point is hard to argue… except of course a bitcoin is worth eight thousand of these dollars!

But aside from this, it does suggest that the micro-payments use-case is an important one when it comes to mainstream adoption. The sooner we can all pay for carbonated sugary beverages and snacks with a user-friendly and stable implementation of Lightning Network payments, the better.

And The Ones Who Chose The Bitcoin

One guy who chose the bitcoin explained that it was because he “followed bitcoin.” However, he had no way of receiving it because “he’d have to set up the app,” and was of the belief that “no-one ever trades it.” So even someone who ‘follows’ bitcoin, one would imagine through specialist media like Bitcoinist, didn’t have a wallet on his phone.

Another guy was aware that the price was going back up, and chose the Bitcoin. He had previously invested when BTC was going up, made $1,000 in a week and then lost it all. But he also had no way to accept bitcoin.

Of course, there may have been others who were more clued up but didn’t make the final edit of the video.

A Different Kind Of Bitcoin Bubble

As Bitcoiners, it’s sometimes easy to forget that outside of our little crypto-bubble is a whole world of no-coiners. If we want Bitcoin to reach mass adoption then we should consider it our duty to spread the word.

Whilst none of the participants in this experiment were ever actually going to get a bitcoin, the host did bring them up to speed. After hearing more about bitcoin’s value, utility, and how it works, the majority changed their choice.

The host also got them to download a wallet app and transferred them a token amount of bitcoin. This is exactly how I was introduced to bitcoin several years ago when our esteemed editor met me at a networking event. 20 minutes later I was the proud owner of $1 worth of bitcoin (worth over 30 dollars today!).

So I encourage you now to do exactly this. Offer everyone you know one dollar (few will refuse it), then help them to install a wallet and send it to them. Explain that they can just keep checking it to see its value, or they can add to and/or use it.

Oh, and tell them that if you’d given it to them six months ago it would be worth over two dollars by now.

What do you think of the students’ responses? Share your thoughts below!


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Kvě 24

Weiss Ratings: Bitcoin Correction The Best Buying Opportunity Since 2015

Weiss Ratings believes that bitcoin price surging to $8,373 will open the doors to a once in a lifetime purchasing opportunity.


Weiss Says Buy the Dip

On Thursday Weiss Ratings tweeted that Bitcoin’s current technical setup presents the best purchasing opportunity for investors since 2015.

The independent rating agency based their assessment on analysis from their chief crypto analyst Juan Villaverde.

The analyst explained that Bitcoin’s recent surge to a 2019 high at $8,373 has primed the market for an impending correction that will represent the greatest purchasing opportunity since 2015.

According to Villaverde, similar price action occurred in 2012 and 2015 and the cryptoanalyst explained that:

In January 2012, for instance, after Bitcoin has rallied to $7 per token from its bottom of $2 just months earlier, Bitcoin suffered a 45% correction down to about $4. But that was a launching pad for a bull run that would take Bitcoin into four-digit territory for the first time in its history, hitting a high of almost $1,200 by December 2013.

Villaverde then pointed to an identical occurrence in 2015 when Bitcoin price notched $500 in November only to be followed by a sharp 40% sell-off to $300 a week later.

Will Bitcoin Pull Off a ‘Three-Peat’?

Naturally, investors will be concerned about whether history will repeat itself and the phrase “past performance is not indicative of future results” comes to mind.

Villaverde addresses this valid concern by pointing out that that Bitcoin’s fundamentals have improved significantly over the past year and the fact that Bitcoin usage is near all-time highs, with daily transaction volumes nearly reaching levels not seen since late 2017 is encouraging.

According to him, Bitcoin’s 24-hour transaction volume recently reached a 2019 high of 450,000 and the previous all-time high occurred on December 13, 2017, just a few days before prices reached $20,000.

Weiss also pointed out that Bitcoin network fees remain at their lowest levels since August 2017 despite the consistent increase in transaction volume. Villaverde explained that there is a negative correlation between usage and fees and this is proof that upgrades like SegWit and the Lightning Network were paramount in making this possible.

Overall Villaverde encouraged investors to focus on the positives and reiterated that: the recent major rally confirmed the beginning of a bull market, Bitcoin’s fundamentals have improved the point of supporting increasing price and he cautioned investors to be attentive of an impending sharp correction, which could provide a fantastic purchasing opportunity.

Do you agree with Weiss Ratings advice to buy the next Bitcoin dip? Share your thoughts in the comments below! 


Images via TradingView.com, Twitter, Shutterstock

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Kvě 23

10 Fintech Leaders Predict Bitcoin to End 2019 Above $9,500

Ten prominent fintech experts shared their bitcoin price predictions and all agreed that BTC would close 2019 above $9,500, according to Finder.com.


Experts Expect a Bull Market

The US-based comparison website surveyed 10 fintech leaders on their thoughts and projections on 13 cryptocurrencies (including the top-10 by market capitalization) and the participants included executives from BitBull Capital, Arca, and Blocktoken.

The participants were most optimistic about EOS, Binance Coin and Tron as each was forecast to gain 727%, 459%, and 449%, respectively.

When asked whether the current climate is ideal for the average person to invest in cryptocurrency, 5 out of 10 executives agreed that now is a good time to allocate a small portion of portfolio funds to digital assets. 4 survey participants also said that they believe Bitcoin will surpass its $20,000 all-time high during the next bull-run.

50% of the participants believe that the next uptrend will end just like the one in 2017. But while the majority of the participants expected Bitcoin to eventually cool off from its recent parabolic run, the general consensus was Bitcoin would exceed $9,659 by the end of 2019.

Analyst and participant Joe Raczynski said that:

We are entering a new period with Bitcoin. Many of the institutional players have said they are done with this experiment (publicly), which may be the case [but] I think privately, some other hedge funds and other institutions will continue to invest during this lower period.

Altcoins to Outperform Bitcoin in 2019

Surprisingly, Blockchain Capital partner Jimmy Song expects Bitcoin to close 2019 at $5,901 and Song explained that there seems to be some daylight between Bitcoin and other cryptos.

Bitcoin will start being seen as a different asset than all the others,” he said.

Meanwhile, Bitbull Capital’s Sarah Bergstrand said that she expects bitcoin price to “bounce between $3,000 and $5,000 for the next few months.”

The survey results also show that the majority of participants think Cardano (ADA) will wrap up 2019 at $0.14 and the group was fairly optimistic about EOS.

Brenden Markey-Towler from RMIT Blockchain Innovation Hub predicting that

….as EOS transitions with NEO and Ethereum to next-generation consensus algorithms, I suspect their scope as an institutional technology will increase, and their value with it.

Stellar Lumens (XRP) is expected to reach $0.18 by year-end and the group optimistically forecasts that TRON and XRP will close the year at $0.15 and $0.44.

Finder has held its Bitcoin Predictions Panel since January 2018 and interested investors can find the details of each monthly survey here.

Do you agree with these bitcoin price predictions? Share your thoughts in the comments below! 


Images via TradingView.com, Twitter, Shutterstock

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Kvě 22

Winklevoss: Sitting on the Sidelines is Crazier Than Investing in Bitcoin

Prominent Bitcoin investor and Gemini Exchange co-founder Cameron Winklevoss says that the future of money is currently being built with Bitcoin and crypto and that it’s ‘crazy’ to be sitting on the sidelines. 


‘The Future of Money is Literally Being Built’

Popular cryptocurrency commentator and a prominent Bitcoin investor Cameron Winklevoss has argued the craziness of investing in the crypto space. He said:

“Some people think it’s crazy to invest in crypto. Maybe. But definitely not as crazy as sitting on the sidelines when the future of money is literally being built before your eyes.”

The Winklevoss twins, in general, have been more than well-known in the space. Earlier in January, they said that Bitcoin will pass the $7 trillion gold market cap.

Mr. Wonderful Disagrees

One of those who seem to believe that investing in Bitcoin is more than crazy is popular TV personality and millionaire entrepreneur Kevin “Mr. Wonderful” O’Leary. Those of you who’ve watched the popular entrepreneur show “Shark Tank” surely know him.

Kevin O'Leary bitcoin

Just yesterday, in a rather heated debate with Anthony “Pomp” Pompliano of Morgan Creek Capital, on CNBC’s SquawkBox, O’Leary argued that there’s no value in owning bitcoin as an asset class. He said:

Where is the value in owning bitcoin as an asset class? Tell me why this, which is basically a digital game, has any intrinsic value. And where is the long-term value? Just this idea that they’re going to cut the number of units in half is just a scam. That’s just total BS.

Despite Pompliano’s arguments, the investor couldn’t seem to wrap his mind around the idea and denied all merits of Bitcoin and other cryptocurrencies as well.

Tom Lee Says Current Bitcoin Bull-Run Has Legs

Speaking on CNBC’s Markets Now, Fundstrat Global Advisors’ head analyst, Tom Lee, discussed the current case for Bitcoin. He outlined that the top ten days in any year account for all the gains for crypto.

tom lee Bitcoin price

However, Lee also said that there’s plenty of reasons to be optimistic. He reiterated on the narrative that Bitcoin “has proven to be digital gold” – something also expressed by the Winklevoss twins themselves.

Lee also mentioned the upcoming Bitcoin halving which is estimated to take place in less than a year from now.

As Bitcoinist reported yesterday, the overwhelming majority of people bullish regarding the effect it will have on the cryptocurrency’s price given historical trends.

What do you think of Bitcoin going forward? Let us know in the comments below!


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