Fundstrat’s Thomas Lee spoke about and the bullish indicators it has triggered, during a discussion with Fox Business on April 12. He compared it to the S&P 500, while also attempting to pinpoint ’s price for 2019.
Thomas Lee is known for his predictions, with the most famous prediction being that would reach $25,000 during its rallies. However, his prediction didn’t yield results as soon collapsed from its peak. Lee spoke about and how it created a new all-time high for .
According to Lee, ’s Misery Index measures the momentum of based on activity and price, and is the percentage of the ratio of winning trades to total trades. It also takes volatility into account to measure a daily score, which is measured on a scale of 0 to 100.
In one of his recent tweets, Lee that BMI reaching 89 meant that had reached its bottom and that the bull rally had already begun. To be specific, Lee said that ’s bear market ended when it reached the $3000 range.
Speaking to Fox Business, Lee added,
“I think that if matches what the S&P 500s have done this year, cause the S&P’s move this year is 2.5 standard deviation, that implies that would be $14,000 this year.”
Lee had previously tweeted about the S&P 500 reaching 2.5 standard deviations on March 17.
CRYPTO (1/2): earlier this year, we noted the “macro” factors such as rally in risk assets plus USD no longer surging are tailwinds 4
Chart shows EM in 2018 pulled down . Notice especially how tried to diverge in late 2018 but ultimately succumbed.
— Thomas Lee (@fundstrat)
Lee explained that the standard deviation of the S&P 500, Russel small-cap is greater than 2, but that of is -0.26. If pumps by approximately 185%, it will reach its ideal standard deviation, putting its price anywhere between $10,000 and $20,000.
A Twitter user, @gperezgiusti, commented,
“Honest inquiry: does this forecast change if the 3/10 yield curve inverts again and remains that way for more than a couple of weeks?”
Another Twitter user, @JoGiovanni_, commented,
“Wonder what to extrapolate for the $Nasdaq $QQQ
”
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Published at Sun, 14 Apr 2019 08:17:23 +0000
