This week, bitcoin optimist, Wall Street analyst and Fundstrat executive director Tom Lee, will help investors choose the right time for BTC purchases. The name of the indicator is simple and sonorous: ” Bitcoin Misery Index”.
The indicator is a scale from 0 to 100, showing how difficult the economic times are going through the BTC. For the calculation of indices, the following market factors are used: BTC, as winning trades, volatility and much more. The basis of the lung indicator developed by Lee is the ” Bitcoin Misery Index”, developed by economist Arthur Okun.
“Think about this indicator, how to assess how much you are happy or upset by the fact that you own bitcoin,” Lee explained.
When the torment index is low (less than 27 points on the scale), bitcoin demonstrates the best 12-month indicators. Today, the index is 18.8, the lowest since 2011. Because Lee says: it’s time to buy.
As suggested by the expert, the BTC / USD market overcame the $ 10,000 mark and surpassed the participants by the end of the year. Lee also said that the healthy price of bitcoin for February 2018 was $ 6,000. It was this minimum indicator of the leading cryptocurrency that showed on the decline. Despite the fact that the cryptocurrency market is now dominated by bears, Lee takes a bullish position.