In 2018, the popularity of Thomas Lee increased dramatically - the co-founder of the Fundstrat became widely known for its erroneous predictions of the future price of Bitcoin. Even after he lowered the bar of his expectations, the main cryptocurrency could not reach the stated goals.
At this time, Lee announced only a rough scenario of possible developments. In a recent publication, the analyst talked about Bitcoin's connections with growing markets and outlined the most important price level of a digital asset.
When the crypt will win the action
According to Lee, Bitcoin must grow to at least 10 thousand dollars in order to “catch up” with stock markets.
Earlier this year, we noticed that macro-factors like rally in risky assets and the dollar are no longer serious triggers for Bitcoin growth. Judging by the schedule, the dynamics of the development of growing markets, on the contrary, greatly influences BTC. Notice how, at the end of 2018, Bitcoin tried to form a divergence, but this attempt was doomed to failure.
In other words, emerging markets have played a big role in shaping the global cryptocurrency downtrend. However, after quite a long time, the Bitcoin price line and the dynamics of the markets still crossed.
The main question is how strong will be the growth of Bitcoin based on convergence.
Apparently, Bitcoin needs to grow by at least 185 percent in order for cryptocurrency trades to match the dynamics of emerging markets. In this case, the next important level of resistance for the asset will be the zone of its previous price maximum - 20 thousand dollars.
Today, Bitcoin is trading at 4062 dollars. Over the past day, the cost of cryptocurrency increased in the region of one percent. Bidding is 8.97 billion dollars.
