According to Tom Lee of Fundstrat Global Advisors, the bitcoin bull is still coming.
It's just a little later than most would have liked.
Including himself.
Lee infamously called for $25k bitcoin for most of 2018, even up to about November, when bitcoin was trading for $6k at that time.
Once things fell apart he went quiet for a while...
However, he was on CNBC the other day saying that he thinks the bull market for bitcoin is still coming, it's just taking longer than we had anticipated.
According to Tom, he thinks that by August of this year, the technicals will set up in a way that bitcoin will no longer "technically" be in a bear market.
It will be above it's 200 week moving average and other technical indicators will likely have flipped by then as well.
At that point it may start to get fun again.
However, from now until August it will mostly be about repair, according to Tom.
Over the coming months, Tom expects bitcoin to mostly slowly climb higher and take back that $6k number by August.
A very significant number on the charts according to Tom.
Once that damage is repaired it will be time to start grinding higher and the bull will be back in full force!
More on his thoughts can be seen here:
Stay informed my friends.
Image Source:
-Doc