Fundstrat’s Tom Lee Sees Bright Future for Crypto in 2020

The crypto market will rise on new healthy dynamics in 2020, commented Thomas Lee, founder of the Fundstrat analytical company. The January price rally shows a return to more active trading with new possibilities for digital assets. Halving Not Priced In, Says Tom Lee Lee believes BTC may be in for a bigger rally, as the halving of the block reward is not yet priced in. This new narrative goes counter to the idea that 2019 trading already discounted the halving news. The improved performance of crypto in 2020 is evidence that a better and healthier dynamic is underway this year. In our view, three positive convergences are acting as tailwinds for #bitcoin and other #crypto in 2020 — Thomas Lee (@fundstrat) January 15, 2020 Fundstrat, which produces regular reports on sentiment and trading opportunities, has thus presented a more or less optimistic report to its clients. The trading tips and expectations may further sway the sentiment for crypto trading in early 2020. Lee gave signs he believes 2020 would be the year of BTC and Ethereum (ETH), based on positive sentiment. Lee’s views arrived at a time when bitcoin once again fights resistance levels on a possible trek to $10,000. In the past year, regulatory pressures were one of the obstacles to the crypto world. But the new year has arrived with more attention on the US election cycle, while most of the new regulations have already been implemented for crypto trading. Bitcoin price broke out above $8,700, still envisioning more resistance levels to be taken over. For now, January defies the trends of being a month of stagnant prices. The new year opened with a price rally, instead of a slide to yearly lows. Crypto Markets Will Rise on Renewed Mood, Not FOMO The current price appreciation was also viewed not only as FOMO, but as a new stage of price discovery, stated Lee in an earlier CNBC interview. Market rally not about FOMO, but repricing risk: Tom Lee — Deano (@Safety130) January 10, 2020 BTC now enters a year that also expects overall positive market sentiment, with sufficient liquidity in the overall economy, as well as within the crypto markets. The price moves in January also re-sparked questions of whether an altcoin season would also start, or if the current price moves are only short-lived. BTC also tends to follow technical analysis predictions as a self-fulfilling prophecy. The new year shows easily expanded volumes, with continuing importance of stablecoins. Beyond Tether (USDT), significant activity has boosted coins like Paxos (PAX), USDC, as well as Binance’s BUSD. The presence of stablecoins waiting on the sidelines also means BTC volumes were capable of reacting as they doubled overnight. In comparison to BTC, altcoins still rise on much thinner trading, with the potential for higher volatility. What do you think about Thomas Lee’s view of 2020? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @fundstrat @Safety130 The post appeared first on
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