The cryptocurrency market will upsurge on new healthy dynamics in 2020, as the January price rally shows a return to more active trading with new possibilities for digital assets, the founder of the Fundstrat analytical company, Thomas Lee remarked.
Lee believes that Bitcoin (BTC) may be in for a bigger rally, as the halving of the block reward is not yet priced in. This new narrative goes counter to the idea that 2019 trading already discounted the halving news. He also believes that 2020 would be the year of BTC and Ethereum (ETH), based on positive sentiment.
The company has come up with three positive convergences on the crypto outlook for this year, with more attention to halvening, geopolitical risk and US election cycle.
The Outlook Report wrote:
The price moves in January also re-sparked questions of whether an altcoin season would also start, or if the current price moves are only short-lived. At the moment, BTC tends to follow technical analysis predictions as a self-fulfilling prophecy.
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