Bitcoin and Ethereum Donations Now Accepted by UNICEF Through Its Newly-Established Crypto Fund

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Bitcoin Bull Market Has Resumed After 40 Percent Price Surge: Fundstrat's Analyst Tom Lee
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

  • Moving in tandem with US stocks
  • Making Bitcoin investors happier

Fundstrat’s analyst Tom Lee believes that Bitcoin’s latest price increase wasn’t just a flash in the pan. The prominent analyst says that the top coin has resumed its bullish rally after the interim “risk-off” period ended. 

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Moving in tandem with US stocks

As reported by U.Today, Lee claimed that Bitcoin was ambidextrous, suggesting that it can do just fine in both risk-on and risk-off environments. 

Considering that the S&P 500 rallied to a new all-time high on Monday, it might signal that investors’ appetites for risk have grown significantly as of recently.  

Earlier, Lee voiced a theory that there is a clear correlation between the US stock market and Bitcoin, but this theory is not popular within the crypto community. 

Bitcoin Price to Keep Rising in Bullish Trend in Q4: Crypto Analyst

Making Bitcoin investors happier

The prophetic bull also mentioned that the ‘Bitcoin Misery Index’ (BMI), which gauges market sentiment on a scale from 0 to 100, bottomed on Oct. 24 and started to rebound. The massive crypto rally that took place after Chinese President Xi Jinping’s pro-Blockchain comments certainly made holders happier.  

As reported by U.Today, the BMI index reached its highest level since 2016 (89) after the Bitcoin price jumped by 20 percent on Apr. 2 and commenced the new bull market. 



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