Tom Lee Mentions The Golden Rule For Bitcoin’s Gains
The crypto market has been extremely volatile lately.
You probably already know that during the past week, the bulls came back to the market and boosted BTC above $9,000, leading some expert voices to make extremely optimistic predictions involving the most important digital asset in the crypto space.
How BTC accumulates gains
Fundstrat’s head of research Tom Lee is addressing an important metric that is showing how the world’s most popular crypto accumulates its gains.
Lee and his team unveil that BTC is making most gains in 10 disparate days of a year.
— Thomas Lee (@fundstrat) October 26, 2019
The important thing worth noting is that if you don’t own Bitcoin for those ten days out of the year, Lee said that the annual return is -25%.
T5his strategy for maximizing gains is to hodl and not sell the investment, says Lee.
The online publication the Daily Hodl mentioned that “According to the analyst, BTC just tapped the golden rule: Friday, October 25th is looking like one of Bitcoin’s ’10 best days’ as the king coin soared 30% to a high of just over $10,000.”
BTC immediately corrected and is now trading around $9,254.21 on CMC.
BTC to return to $20k
Earlier this month, Lee predicted that BTC would soon return to $20k, and he said that another important indicator for a bullish BTC market is the S&P 500.
“+12% rally in #Bitcoin coinciding with strong equity day as S&P 500 nearing all-time highs…
– a reminder of the ‘unpopular’ opinion that the bitcoin performs best when S&P 500 rallies.
– best years Bitcoin when S&P 500 return >15%.”
BTC is reportedly on track to $100k
Another extremely optimistic prediction just popped up and we addressed it earlier this morning.
The popular crypto analyst PlanB is back with another prediction. He says that BTC is back on track to hit $100k.
The analyst said that BTC’s stock-to-flow ratio shows BTC right on target.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.