Signs of Trend Reversal as Bitcoin Price Hits $7,000 – Tom Lee Predicts Bull Run

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Bitcoin, the biggest cryptocurrency, at the time of writing is at its highest price since August 7, just before the beginning of a continuous decline that eroded all the gains gathered in July. Aside from BTC, the other of digital currencies are performing great. ETH and XRP have both taken off fundamentally, yet MIOTA is the best performing top-ten coin, rising by 15 % throughout the most recent 24 hours.

Outside of the best ten coin performers, NEO is up by 9 %, VeChain by 13 % percent, DASH price by 21 %. 99 percent of the top 100 coins are green in the last 24 hours, except Tether, what appears like a positive begin to the week for the bulls.

Bitcoin Could Set New All-Time High (ATH) in 2018

A couple of days prior, Tom Lee anticipated that BTC could end 2018 with another ATH. Speaking to CNBC, Lee featured the relationship between’s fence stock investments speculation, developing markets, and the cost of BTC. As per Lee, signs point to a bull run move for Bitcoin.

As indicated by the Fundstrat expert, the switch between “risk on” and “risk off” for speculative stock investments and also the fluctuating securities exchange costs specifically affect the cost of Bitcoin. Remarking further, Lee stated:

Until emerging markets begin to turn, I think in some ways that correlation is going to hold and tell us that sort of the risk on mentality is those buyers aren’t buying bitcoin.

Tom Lee has since the start of the year, anticipated that Bitcoin would end 2018 at $25,000. Remarking on the destiny of the main digital currency’s value, Lee said he anticipates that BTC will end the year “dangerously higher.”

Do you think the actual price climb is a sign of a trend reversal? What is your BTC price prediction for 2018? Join the discussion in the comments below.

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Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past.

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