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Tom Lee: Bitcoin’s Bull Mark Could Return Within Six Months

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Tom Lee, who is the co-founder of Fundstrat Global Advisors and a well-known crypto protagonists, has recently made a new statement which is featured in today’s headlines on our DC Forecasts Bitcoin news site.

According to Lee and his interview on CNBC, a bull mark for Bitcoin (BTC) could return within six months. In an interview with the publication, Lee said that he would stop giving out timeframes for a price rebound in December.

As a well-known Bitcoin bull and an optimist who predicted that BTC could reach $250k by 2022, Lee now puts his focus for August as the time when the market could see a U-turn. As he told the network:

“I think the key number to watch is the 200-day moving average.”

He continued stating:

“If Bitcoin holds above $4,000, it’ll cross its 200-day [moving average] by August, so I think the outside window is five to six months before Bitcoin starts to look technically like it’s back in a bull market.”

Lee also referenced Bitcoin Cash’s contentious hard fork in mid-November, stating the following:

“I think the damage that really needs to be repaired is that drop from $6,000 to $3,100. I think it really undermined investor confidence and the dynamics around the market[.]”

As we reported recently, Bitcoin is now stable but beginning to deliver returns to investors through the month of February. The average daily increases are at around 0.5% and this number this month has shrunk to 0.2% leading many to believe that a fresh bear market downturn could be imminent right now.

Ever since its peak of $20,000 in December 2017, Bitcoin (BTC) has seen the longest bear market in its history with a low at $3,100. In December, one analyst predicted that Bitcoin could go to near $1,000 before bearish sentiment ends.

Bitcoin is positive on the day, however, and is trading at $3,952 with a 1% increase and a $11 billion in trading volume, which is a positive indicator. The total cryptocurrency market cap has also risen to nearly $137 billion and a positive outlook before the weekend is clearly on its way.

It remains to be seen if Lee will correct his statement or will reinforce it over the next couple of weeks.

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Analysis

CME Futures Gaps Show Bitcoin Could Be Headed To $18,000 (Or Higher)

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The Bitcoin price is still a hot topic re-shared by many best cryptocurrency news sites. However, what's interesting in the latest news is a hint by CME Futures gaps which shows that if all goes well, Bitcoin is headed to $18,000 or higher. Even though most of the analysts first want to see BTC at the $9,000 or $10,000 price targets, one trader believed that BTC may be heading higher - to price points which have left gaps in the CME Bitcoin Futures charts that yet need to be filled. After going parabolic in the recent weeks, Bitcoin has corrected to a level below $8,000 and further dropped down to $7,500. Currently, the price action shows that BTC is increasing and colliding with the hints and predictions from CME Futures gaps. Ever since the start of April, Bitcoin has been the main talk of the finance and tech industries - and a hot topic in the latest cryptocurrency news. It was also the first-ever cryptocurrency that has bounced back from bear market lows and captured the attention of the market and media once again. So, is a new parabolic move coming in for Bitcoin? The CME Futures gaps show that this is entirely possible, mostly because of Bitcoin's move in late December 2017 which left two unfilled gaps on CME Group's Bitcoin Futures chart. These two gaps, according to some altcoin news analysts, could mean that Bitcoin is targeting $17,700 and $18,500 - which are two price levels without candle bodies as can be seen in the chart shared by the self-proclaimed “shitcoin trend trader,” Rampage. https://twitter.com/Thrillmex/status/1130910351757852674 The CME Futures gaps show that certain filling is needed. Speaking of, in the financial market, "filling the gap" is basically a process in which an asset returns to its previous price levels where a void in the chart has formed - due to the price of the asset which is rising or declining quickly while the trading is offline. When the trading resumes, the price of the asset is significantly lower or higher than it was at close - thereby leaving a gap. This Bitcoin gap is a major topic right now and could hint on something bigger than many expect.  
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Analysis

Bitcoin’s Price Goes To $8K Again, Bullish Indicators Are Returning

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Bitcoin's price goes to $8K, btc
Bitcoin’s price goes to $8K price level again and continues to follow a steady ascending triangle pattern. The altcoin news today will give you some more detail on the price analysis of the number one cryptocurrency. The Bulls managed to go past the $7,500 price level yesterday and will now focus on the psychological $8K level.  On the daily BTC/USD charts we can see that the ascending triangle is continuously forming since the asset made a strong recovery off the uptrending pattern yesterday. Currently, the $8,000 level seems to be making slight friction in the uptrend as selling pressure from the short-term traders is reaching the market. Bearish signals on the MACD indicators are seemingly worsening since the analysis made a day ago despite the price surge in Bitcoin by 5.24% in the last 24 hours. The selling volume is also growing and the 12-MA has yet to show signs of converging above the 26-MA point. We should also consider that the MACD is a lagging indicator so the signals can often trail behind the current price activity. If the bulls come close to the $8K price point, we could expect a bullish convergence to appear during the early hours of the day. But if BTC ends the day below the said price point, we could see another bearish breakout which will take Bitcoin’s price below the uptrending support near the $7,600 mark. Bitcoin's price goes to $8K level strongly despite the insignificant bearish sentiment. As noted in the latest cryptocurrency news, the RSI indicator shows that the sentiment remains bearish as the momentum shows a slight decline along the support line. From this, we can all see that the buying momentum is weak and could result in a reversal trend unless new support comes. On the 4-hour charts, the BTC/USD pair shows a totally different picture. Here it appears that the price action is breaking out of the bullish pattern. The indicators also track the price action closely and will give the traders a better idea of the bitcoin’s price movements. Over time, traders will be able to see smaller changes in momentum clearly which is why the bullish signals are appearing on the MACD and RSI. Overall, we could expect to see Bitcoin test the $8,100 level in the new few days if the momentum continues to improve.
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Bitcoin News

Trump Rival Presidential Candidate To Make US A Bitcoin Nation

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Trump rival presidential candidate from the Democratic Party Eric Swalwell aims to make the US a bitcoin nation. He is even accepting BTC donations for his dark-horse bid to get the current president off his position and we find out more in the latest cryptocurrency news today. The congressman aims to use the blockchain technology in every part of the government after he removes Trump from the White House. Swalwell is also accepting six cryptocurrencies one of which is the White Standard-a stablecoin that has $0 in USD reserves. The White company is now running his campaign contribution site which explains his decision. The other cryptocurrencies include Bitcoin SV, Bitcoin, Bitcoin Cash, Stellar and Ethereum. The Trump rival reportedly aiming for mass blockchain adoption after he pointed out:
 “Blockchain can change the world if we let it. […] Our nation pioneered the Internet. We use smartphones all day every day to move money, to buy goods and services, to share our innermost thoughts, and participate in public life. So it’s pure cognitive dissonance to believe that we cannot extend this further into our democracy and our economy.”
Another presidential candidate Andrew Yang is also accepting crypto donations but he is slowly losing his support after tweeting that ‘’cash is king.’’ Both of the candidates are a long-shot in the race against Trump but they are hoping to get the vote of the crypto community. Swalwell offers broad ‘’support’’ for the blockchain technology and Yang has an entire policy platform based on the idea of crypto. As mentioned in the coming altcoin news, Swalwell will not accept corporate ‘’PAC money’’ in his campaign. Politicians were quick to demand a well-regulated and established crypto economy while there was almost no improvement in the regulatory sector in the country. The nature of the federal government towards cryptocurrencies has made other countries become the perfect crypto hub for crypto companies. Experts around the world think that a summary ban on crypto could increase the prices for cryptocurrencies and the demand would also increase. However, the more things are urging to change, the more nobody does anything about the crypto climate.
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Bitcoin News

AT&T Telecom Giant Starts Accepting Bitcoin Payments For Your Phone Bills

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at&T telecom giant
AT&T Telecom giant which is the largest US mobile carrier started accepting bitcoin payments for mobile phone bills and the decision is expected to bring the mass adoption for the number one cryptocurrency at a higher level. We read more about this amazing news in today’s altcoin news. The United States telecom giant AT&T announced that the customers can now pay their bill in crypto. This decision makes the telecom giant the first to offer this option and the vice president of Communications Finance Business Operations of the company Kevin McDorman noted:
‘’We’re always looking for ways to improve and expand our services [and] we have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.’’
Currently, crypto payments are only limited to bill payment and AY&T didn’t explain whether the customers will be able to use their crypto to purchase smartphones and other accessories online or at the stores. All of the customers who are interested in making a crypto payment should simply select the BitPay option as a preferred payment option when they login to their accounts or simply go through the myAT&T app. As reported in the latest cryptocurrency news previously, AT&T is not the first US-based titan corporation that started accepting crypto payments. Some of the companies that allowed this option include Overstock, Subway, Shopify, Expedia and Microsoft which only makes up the small percentage of multinational corporations which accept crypto payments. Recently, Whole Foods and other major food retailers started accepting bitcoin through a third-party payment partnership. AT&T telecom giant and its dominance on the market and brand recognition in the telecom sector will surely make a positive influence on the market for the entire crypto sector, not just bitcoin. As we can expect, not everyone is thrilled about the new decision of the company. For example, Morgan Creek Digital co-founder Anthony Pompliano tweeted the news earlier and expressing his support and a number of skeptics bombarded his tweet disagreeing with him and the aT&T announcement. However, this decision is expected to increase the level of mass adoption for Bitcoin but we could also expect to see some movements in the price for the cryptocurrency giant as well.
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