100-Year Stock Market Trend Spells Trouble for the Dow

As the stock market looks to shrug off an extremely volatile August, bulls will be praying that JP Morgan is right in its bet that September will herald a strong Dow recovery. Unfortunately, 100 years of historical data suggests that September is usually bad news for markets, particularly for the Dow Jones Industrial Average. The […]

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Bitcoin Approaches Second Inning as Bakkt Exchange Launch Nears

Bakkt has been trumpeted as a future main driver of crypto institutional adoption and even the bull market. The bitcoin futures exchange boasts everything Wall Street firms are looking for – the promise of uncorrelated returns to the stock market plus the confidence of regulatory oversight. But in case you haven’t noticed, Bakkt hasn’t launched […]

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Tom Lee: Bitcoin Close to Full-Blown FOMO as Price Nears Key 10K Level

By CCN: After a week in which bitcoin flirted with $9,000 for the first time in a year, Fundstrat’s Tom Lee cited data which suggests the point of no return is fast approaching. According to data from Fundstrat, when the value of bitcoin crosses the $10,000 barrier, it’s full-blown FOMO all the way. Labeled as ‘Level 10’ FOMO, this represents the equivalent value at which Bitcoin has soared in the past. Full Blown ‘Level 10’ FOMO Approaching for Bitcoin Global head of the Financial Times, Adam Samson tweeted the following graphic on Wednesday, along with this tweet: We are apparently

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What Trade War? Tom Lee Says the S&P 500 Could Return 23% This Year

By CCN: The stock market still has more runway for gains despite the trade war. Fundstrat Co-Founder Thomas Lee is doubling down on his year-end target of 3,100 for the S&P 500, which reflects gains of 9% from where the index hovers today. The S&P 500 has already climbed 14% higher year-to-date, and but the mood in the market has felt more like “doom-and-gloom” than “to the moon” as a result of the trade war tensions with China. Nonetheless, perma-bull Lee is confident that most stocks won’t feel the heat from the geopolitical fire. Good to discuss with @sullycnbc why

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$25,000 Bitcoin Price Next for Perma-Bull Tom Lee after Ringing Crypto Winter Dead

By CCN: Fundstrat CEO Tom Lee says the ‘crypto winter’ is finally over, offering 13 solid reasons to back up his claim. According to the bitcoin perma-bull, there’s nothing but blue sky between here and his $25,000 price prediction. If he’s right, then bitcoin has bottomed for this cycle and we have now entered a bull market. Lee’s 13 signs touched on everything from technical analysis, Wall Street involvement, bitcoin metrics, and generally positive sentiment. After a disturbing pullback to ~$6,200, #Bitcoin back >$8,000 further cementing positive trend intact. As we said a few weeks ago, Consensus 2019 @coindesk was

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Bitcoin Critics to Catch FOMO at BTC $10,000, Says Crypto Bull Tom Lee

By CCN: Bitcoin’s run higher is igniting a wave of fear-of-missing-out (FOMO) among those who gloated about the cryptocurrency’s imminent demise. Fundstrat Co-Founder Tom Lee recently took time to engage with crypto Twitter now that bitcoin’s price has rebounded considerably. Through a Twitter poll, he asked, “At what price will see FOMO from those who gloated about 90% crash in BTC?” Before he closed the voting over the weekend, nearly 8,000 people had participated. Most of them believe bitcoin hitting $10,000 again will bring naysayers to their knees, causing them to jump back in. At what price will see FOMO

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Risk On! Fundstrat’s Tom Lee Spots a ‘Huge Buying Opp’ in Stocks

By CCN: As Donald Trump and China continue to play Russian roulette with the global economy, the Dow Jones Industrial Average is doing just fine, thank you. Fundstrat Co-Founder Thomas Lee is an uber-bull, both in the stock and crypto markets. So for him to suggest that recent stock market declines from the highs represent a chance to buy isn’t overly shocking. He told CNBC: “I think investors should be buying this pullback.” But he isn’t the only one. Oppenheimer Asset Management’s John Stoltzfus also participated in the panel discussion on the business network. He suggested that the latest stock

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3 Reasons Bitcoin Will Race Toward a New Record High at $20,000

By CCN: The bitcoin price surged as much as 7.60-percent on Friday to establish a new 2019 peak at $5,796.93. The uptrend pushed bitcoin’s year-to-date rally to an impressive 54.08-percent. At the same time, it brought the asset’s total recovery to an astounding 82-percent and set the cryptocurrency well on its way to a fresh record high. Here are three factors that indicate the bitcoin price has not only found a bottom but is also well on its way to smashing through the $20,000 peak it set in late 2017. Reason 1: Moving Averages Mimic Historical Pattern from 2015 Yesterday,

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S&P Bull: Fundstrat’s Tom Lee Says ‘Buy Stocks Even at New Highs’

By CCN: Fundstrat Co-Founder Thomas Lee has been covering the stock market for longer than he’s been analyzing bitcoin. And while crypto has been a tough nut to crack, he’s got a pretty good track record with stocks. Lee’s scorecard bodes well for his latest prediction that the S&P 500 index will reach 3,125 by year-end, which is higher than his previous forecast of 2,925. So why so bullish? For one thing, stocks have already blown past Fundstrat’s previous target of 2,925 with the S&P currently hovering at 2,940. Also, while many analysts were anticipating a dismal first quarter for

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7 Reasons Bitcoin Price Will Smash Record Highs in 2020: Perma-Bull Tom Lee

By CCN.com: Bitcoin permabull and Fundstrat Global co-founder, Tom Lee says the worst is over for bitcoin. In an interview with CNBC, Lee said the bitcoin price will likely see a new all-time high in 2020, eclipsing the previous $20,000 mark. Lee is famous for inflated bitcoin price predictions, but he backed up the latest forecast with seven key indicators. 1. The bitcoin halving is coming Every four years, the bitcoin block reward is cut in half to maintain the strict 21 million supply. It gives bitcoin an artificial scarcity and inherent value. The next bitcoin “halving” is scheduled to

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