Bitcoins and other forms of digital currencies have been overcome by immoderate price fluctuations throughout their histories hence enabling the savvy investors be able to have the highest wins
Moresore those who got into the digital currency space before it became popular in the recent past.
Though regarded as a more risky venture, this has meant that the investors are behaving speculatively when it comes to the overall Cryptocurrencies performance.
Fundstrat’s Tom Lee has come up with a Bitcoin Misery Index that will help the investors be able to come up with the right times to conduct their purchase thereby being able to have a more predictive patterns.
Tom lee has had a track recoprd of successes when it regards the prediction of the Bitcoins price movements. Allegedly he has been able to accurately rally more than $10,000 in the last year.
Some of the reasons why the misery index uses the contrarian economic indicators and for which ranges between 0 to 100 is that it takes into consideration quite a number of different market factors.
By the beginning of March, this index was about 18.8 which is the lowest levels that it has experienced ever since 2011 hence the guru made suggestions that the lower the index, the better the investment chances for the investors.
This could be the key among the indicators of why the Bitcoins have stagnated, lowering from a soaring $20,000 by the end of last year before stalling by the beginning of 2018.
Investors in the Cryptocurrencies have now become worried as to why there exists a stagnation that has been invaded by other parts of the Cryptocurrency. They now have become weary to whether the wave will be able to pop up.
Lee also believes that the investors who have maintained a consistency in their investments could be up for a positive gains because he believes that the Bitcoins prices could soar up to more than $25,000 before the end of the year.
Making investments in the digital currency and ICO’s has been termed as a highly speculative and a risky affair however, this does not mean investments should not be made because every person has a unique situation.