Tom Lee of Fundstrat recently tweeted,
“A lot of ‘signal’ past few days in crypto and #bitcoin
– China (friendly policy) – New ATH S&P 500 (positive)
– Bitcoin Misery Index bottomed 10/24 at 36 and rebounding (positive)
– Massive price gain on $BTC friday (signal)
Interim ‘risk-off’ ended, and bull market resumes.”
Bitcoin has largely held on to gains made over the weekend and remains almost 25% higher than it was trading late last week.
A number of industry observers have been typically disparaging, calling it a manipulated pump and dump but as yet markets are holding steady.
In other Crypto news today,
China is in the midst of a new blockchain boom.
Cryptocurrencies got a boost, and so did blockchain-related stocks.
What’s next?
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News Resources From Today’s Show:
A lot of ‘signal’ past few days in crypto and #bitcoin– China (friendly policy)– New ATH S&P 500 (positive)– Bitcoin Misery Index bottomed 10/24 at 36 and rebounding (positive)
– Massive price gain on $BTC friday (signal)
Interim ‘risk-off’ ended, and bull market resumes.
— Thomas Lee (@fundstrat) October 28, 2019
$BTC has moved +42% today– 4th largest gain in history and largest since May/10/2011 (if comparing against daily returns).– 15th largest two-day gain in history, Nov/18/2013.Thank you China.
President Xi is the true Crypto Dad.
— Alex Krüger (@krugermacro) October 26, 2019
Ahahahahahhaha, now on Chinese CT ” Fuck ETF, fuck Bakkt, fuck Libra, none of these BS will pump, only we Chinese pump with real money, the only way to pump”
(excuse me for the F word… try my best to translate from very Chinese slang)
— Dovey 以德服人 Wan 🗝 🦖 (@DoveyWan) October 28, 2019
3/ Articles saying blockchain technology is a scam are now BANNED.
Who still remember the days when posts promoting blockchain getting deleted real fast? pic.twitter.com/W5iRJ3PDYS
— cnLedger (@cnLedger) October 28, 2019
https://cointelegraph.com/news/chinese-cryptocurrency-mining-giant-files-for-400-million-ipo-in-us
https://decrypt.co/10832/7-ways-china-boosting-blockchain-what-it-means-for-bitcoin