Home General News Tom Lee: Coronavirus will help Bitcoin grow 200 percent in 6 months

Tom Lee: Coronavirus will help Bitcoin grow 200 percent in 6 months

Bitcoin has already beaten its overall market run of 2019 and is on its way to one of the biggest bull run in recent times.

As per Fundstrat Global Advisors Managing Partner Tom Lee, we can expect a massive bull run for, the world’s largest cryptocurrency by market cap which is currently trading above its 200-day moving average. 

Tom Lee also had bullish sentiments as Bitcoin has managed to rise by 30% in the first month of 2020 to nearly $9000.

The latest surge in the price of Bitcoin has come at a time where growing concerns regarding the spread of coronavirus all around the world have completely shaken equities in the USA and other countries. Tom Lee says that this epidemic spread across the world is unexpectedly a good thing for Bitcoin enthusiasts, as the largest cryptocurrency is increasingly being seen as a safe haven asset, and bearing resemblance to digital gold. 

Bitcoin could also grow higher due to market volatility and its correlation with the S&P 500 being flipped from positive 13% to negative 10%.

In the latest interview with Yahoo Finance’s YFi PM, Tom Lee said,  “These geopolitical events including coronavirus and geopolitical tensions really improve the use case.”

Following the notching of its technical feat of trading above its 200-day moving averages more than a 190% return after eclipsing the technical mark, Lee also stated that Bitcoin has a history of trading high 80% of the time. 

Lee further added, “Anyone who’s a trend follower knows when you’re above your 200-day [moving average] you’re back in a bull market, whenever bitcoin breaks back into its 200-day, its average six-month gain is 197%, so we are kind of talking about a levitation taking place.”

The modest 10% gain bitcoin averages when trading below its 200-day moving average would be similar to that average six-month performance, as per the findings of Fundstrat research.

Lee concluded his interview by saying, “It is a good time to look at crypto.”


Safdarali Rizvi
Safdarali Rizvi the management graduate. Has been an avid book reader all his life so naturally loves playing with his words. His curiosity for discovering futuristic opportunities drives him to enlighten the entire Geekymint team with exclusive and intriguing news. He has a real passion for calisthenics and sports. His management abilities and hunger for learning brings tremendous value to our team.


Please enter your comment!
Please enter your name here

Must Read

The Best Free Sports Streaming Websites (100% Working)

Hello my fellow netizens, haven't you ever wondered what is a good way to balance your work with your love of sports...

The best games like Wizard101 for MMORPG lovers

Wizard 101 is a multiplayer online role-playing game that released on September 2nd, 2008. Since then, there are many games like Wizard101...

The Best Live Cricket TV Sites You Just Cannot Miss In 2020

Cricket is as they say a gentleman’s game originated in England and you will be amazed to know that the first game...

Cisco 300-435 Exam and Practice Tests: Get Closer to CCNP Enterprise Certification

IT has become one of the leading fields in the world and this is large because its applications can be found in...

9 of the best Rainiertamayo alternatives to watch unlimited online free movies and tv shows

Movies and tv shows have entertained people since the 1960s. Earlier to that people used to go to fair and circus to...


ThopTV – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, FireTV

About ThopTV movies ThopTV has been around for many years, initially, a user could download the app for an Android Device directly through play store....

9 best ThopTV alternatives for free streaming and Live TV

Streaming apps like Netflix, Amazon Prime, Hulu etc have all become a household name, thus proving that the Internet is the new...

Cyberflix TV 3.2.0 – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC & Firestick

About CyberFlix TV CyberFlix TV is an online streaming app on which you can watch free movies and TV Shows. The app has been shut...

Mobdro – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick & FireTV 

About Mobdro Mobdro App is one of the latest introduction into the free movie streaming app market. Mobdro is rapidly dethroning some of the big...

Stock market expert Marc Faber makes his first investment in BTC

In what could be a significant uplift for the most famous digital asset, Bitcoin (BTC), earlier in the week, one certain Marc Faber announced...