According to Thomas Lee, the co-founder of Fundstrat Global, Bitcoin (BTC) generates its yearly gains in just ten days. As he explained, if an investor misses these 10 days, the average would be down annually since the year 2013.
It Is Time To Hold
The most popular virtual currency has skyrocketed in the last few days and it might continue to do so in the near future. Bitcoin is very close to $7,000 and there are many investors that are becoming increasingly interested in this digital asset.
During 2017’s best ten days, the average price of Bitcoin more than doubled according to Fundstrat. Bitcoin grew 113.6%. Nonetheless, the other 355 days would just provide users with a price increase of 232%. In 2013, 2014, 2015 and 2018, those who missed Bitcoin’s best ten days lost part of their investments.
The choice of 10 days is just arbitrary. It works as an idea of how fast a Bitcoin bull run could affect Bitcoin’s price. Additionally, part performance does not mean that in the future things would behave in a similar way.
Additionally, Thomas Lee has also mentioned that Bitcoin surpassed $6,860 above its 200 day moving average. This should be considered a positive sign that would make investors sure about which is the direction that the market is currently taking.
At the moment of writing this article, Bitcoin is being traded around $6,900 and it has a market capitalization of $122 billion.
[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.