Crypto Traders Are Bullish On Bitcoin

As Bitcoin enters another bull-and-bear fight, ranging between $7,800 and $8,200, crypto traders are warming up to a bullish attitude. Leading social media names have returned with a bullish attitude to Bitcoin price moves, as the coin is now battling out new support levels.

This BTC price analysis today includes Fundstrats Thomas Lee who tweeted:

“We published our 2020 Crypto outlook and made the full report available for our clients. – bottom line: financial markets tend to discount 1-3 months, and maybe 6 months (max). So highest probability is halvening not priced in.”

Here’s a glimpse from Tom Lee’s report:

“2020 Outlook: 3 Positive Convergences

Halving + Geopolitical risk +2020 Elections = 100%+ return for Crypto

Bitcoin returned 92% in 2019, trouncing all other major asset classes, an impressive return given the significant policy and regulatory headwinds that emerged in 2019 – the Congressional blowback form Facebook’s Libra and the correlated White House bashing of Bitcoin marked the highs for 2019. For 2020, we see several positive convergences that enhance the use case and also the economic model for Crypto and Bitcoin – thus, we believe Bitcoin and Crypto total return should exceed that of 2019. In other words, we see strong probability that Bitcoin gains 100%+ in 2020.”

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