Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Wall Street Analyst Says One Catalyst Will Trigger Bitcoin All-Time High and Altcoin Season

by Daily Hodl Staff
September 13, 2019
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

‎‎‎ ‏‏‎

ADVERTISEMENT

The co-founder and head of research at Fundstrat says a healthy S&P 500 will be a major catalyst for the next Bitcoin bull run.

In a new interview on CNBC’s Fast Money, Tom Lee says BTC has thrived when the S&P 500 is doing well.

“Bitcoin has stalled recently because the macro outlook has stalled. In a world without trend, Bitcoin doesn’t go up. So I think the next big catalyst is a decisive breakout in the equity markets because once equities reach an all-time high, Bitcoin becomes a risk-on asset.

We published a piece today showing our clients that if you look at the last 10 years and take the three or four best years of the S&P, they’ve all coincided with the best years for Bitcoin. So Bitcoin does best when the S&P is up more than 15%.”

ADVERTISEMENT

As for the narrative that Bitcoin is also emerging as a hedge against economic uncertainty, Lee says it’s a possibility, although he believes this summer’s on-again, off-again global financial concerns didn’t help BTC.

“Bitcoin may be ambidextrous. It works well in a risk-on world. But as you start to get nervous, then you treat it like digital gold. What we had in the summer was neither environment. It was a market that looked like it was on the precipice. It looked like it could fall but it never did. And I think stuck in that trend was bad for Bitcoin.”

“I think that we’re inching closer. Our base case has been for a second-half rally in the S&P 500 to greater than 3,125. All-time high is around 3,025. I think we’re going to surpass that soon and it would be bullish for Bitcoin.”

ADVERTISEMENT

As for when altcoin season may begin, Lee says he thinks it’s likely to happen once Bitcoin breaks through to a new all-time high.

“I think there’s a bit of sobering around alts in that some are useful but [people] aren’t really sure how to trade the whole group. So I think what may end up playing out is the S&P hits a new all-time high. Bitcoin reaches an all-time high, which is not too far away for Bitcoin. And then I think it would likely lead to the start of alt season.”

Bitcoin has fallen 12% from its June peak, and @Fundstrat's Tom Lee says one unexpected thing could propel its next move higher. pic.twitter.com/tny5hDm6lw

— CNBC's Fast Money (@CNBCFastMoney) September 12, 2019

ADVERTISEMENT
Follow us on Facebook            Join us on Telegram            Follow us on Twitter


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
  • Everest Receives Crypto Custodian Approval
    February 23, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$47,104.00
$47,104.00
0.38%
Ethereum
$1,478.70
$1,478.70
0.68%
Binance Coin
$227.85
$227.85
1.71%
Polkadot
$35.24
$35.24
15.02%
Cardano
$1.43
$1.43
26.86%
XRP
$0.436792
$0.436792
1.09%
ADVERTISEMENT

Spotlight

  • Massive Bitcoin Whale Transactions Move More Than $1,900,000,000 in Crypto
    February 23, 2021
  • This Small-Cap Altcoin Is One of the Most Promising Projects of 2021, According to Coin Bureau
    February 26, 2021
  • Elon Musk Triggers Massive Bitcoin Breakout After Defending Tesla’s $1.5 Billion Investment
    February 20, 2021
  • ARK Invest’s Cathie Wood Warns ‘Valuation Reset’ Coming, Says Firm Plans To Capitalize on Wave of Fear
    February 24, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.