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Bitcoin Bull Market Has Resumed After 40 Percent Price Surge: Fundstrat's Analyst Tom Lee
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  • 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. 


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. 

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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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