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This Is the Happiest Bitcoin Investors Have Been Since 2016: Tom Lee


This Is the Happiest Bitcoin Investors Have Been Since 2016: Tom Lee
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Fundstrat’s Tom Lee keeps bringing positivity to the crypto market by revealing that his ‘Bitcoin Misery Index’ (BMI) has reached its highest level since 2016. However, this shouldn’t be treated as a surefire indicator of another bullish trend.

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A new dose of happiness   

The BMI determines how Bitcoin investors feel about the market situation on a scale from 0 (the most miserable) to 100 (the happiest). On Apr. 2, when Bitcoin surged 20 percent in less than one hour, it reached a value of 89 –the highest it’s been since 2016.

This is supposed to prove that Bitcoin might record further gains in the nearest future given that a happiness level above 67 was only recorded during bull markets. On the flip side, the prescient Wall Street analyst points out that it could also precede a sharp price drop (case in point: January 2018).



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Institutions are betting on BTC  

As reported by U.Today, institutional Bitcoin trading volumes have been on the rise for four consecutive months with a huge spike in April. Lee believes that Bitcoin’s negative correlation to the S&P 500 (coupled with low volatility) could be the main reason why.

Earlier, Anthony ‘Pomp’ Pompliano claimed that there was practically zero correlation between BTC and the S&P 500.

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Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak

  • Alex Morris
    📰 News

    Binance Coin is so far the second cryptocurrency (after EOS) that managed to rebound after January 2018's drawdown


Crypto Wonders: Binance Coin (BNB) Hits Its New ATH, Surpassing Its January 2018's Peak
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After surging by more than 14 percent over the last 24 hours, Binance Coin has managed to surpass its previous ATH that was recorded during the peak of the bull market in January 2018, according to the data provided by CoinMarketCap (CMC). The historic rally was triggered by numerous recent developments inside the exchange’s ecosystem.  

Binance Coin, CoinMarketCap
Binance Coin continues to register double-digit gains, image by CoinMarketCap

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BNB makes history

At the time of writing this article, the price of the BNB token is at $24.65, rising above its previous ATH of $24.46 that was recorded on Jan. 12. Hence, Binance Coin, the seventh largest cryptocurrency by market capitalization, becomes only the second asset to reach a new price peak after the crash of the speculation-driven bull market. EOS, which is sitting one spot above BNB on CMC, achieved a similar feat in May 2018.

‘Binance Coin is outpacing the overall crypto market. While Bitcoin is off 75% from its all-time-high, Binance Coin has recovered. There is fundamental growth and synergy taking place that is contributing to the rising price of Binance Coin,’ says BitBull Capital CEO Joe DiPasquale.

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Pumping other coins

On Apr. 18, Binance launched the mainnet of its custom Blockchain Binance Chain. The migration of BNB tokens from Ethereum to Binance Chain is scheduled to take place on Apr. 23. This is going to be the second largest token swap in history.

Binance, which is now completed with Ethereum, has already on-boarded some Blockchain projects, including Mithril (MITH) that experienced a 70 percent price pump after its launch on Binance Chain.

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