Fundstrat’s Tom Lee says Bitcoin price has the tendency to grow by 197% in six months whenever the 200-day SMA is broken into. Geopolitical events like the coronavirus are likely to fuel Bitcoin price upwards in 2020. The co-founder of Fundstrat, an independent research and advisory boutique Tom in his recent interview with Yahoo Finance said that Bitcoin is set to push the gains realized in January even higher. Lee believes that Bitcoin possesses the potential to grow by 200% in the next six months. Whenever bitcoin breaks back into its 200-day, its average six-month gain is 197%, so we’re sort of talking about a levitation taking place. Lee also said that Bitcoin could react positively in 2020 riding mainly on geopolitical events. For example, the coronavirus is believed to have fueled a substantial amount of Bitcoin’s gains in January. These geopolitical events including coronavirus and geopolitical tensions really improve the use case. Bitcoin is also set to grow on the basis of the coming reward halvening event in May. The supply of the cryptoasset is likely to reduce while demand increases. The force of demand and supply coupled with investors’ speculation would see Bitcoin price rise significantly towards the end of the year. Read more: Bitcoin Price Analysis: Why BTC/USD must defend $9,200 bullish zone? FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Top five assets to run to in coronavirus times Yohay Elam 2 years Fundstrat’s Tom Lee says Bitcoin price has the tendency to grow by 197% in six months whenever the 200-day SMA is broken into. Geopolitical events like the coronavirus are likely to fuel Bitcoin price upwards in 2020. The co-founder of Fundstrat, an independent research and advisory boutique Tom in his recent interview with Yahoo Finance said that Bitcoin is set to push the gains realized in January even higher. Lee believes that Bitcoin possesses the potential to grow by 200% in the next six months. Whenever bitcoin breaks back into its 200-day, its average six-month gain is 197%, so we’re… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
