Fundstrat Global Advisors co-founder Tom Lee said that the cryptocurrency bull market is definitely over. He wrote this in a tweet published on May19. In the post, Lee wrote that last week's Consensus Conference in New York was the latest sign that the cryptocurrency market is rising from the ashes. Turning points The beginning of the resurgence was reportedly in November 2018, when Bitcoin Cash (BCH) split into two forks. Beyond that, Lee notes that interest in cryptocurrencies began to rise from January this year. This was followed by a surge in OTC trading and BTC blockchain activity in April. The cryptocurrency's chart also saw the first golden cross since October 2015, when the phenomenon appeared to be the prelude to a new bull market, culminating in 2017, of course. In turn, at the beginning of May, Lee said that the cryptocurrency market proved its resilience and maturity when the controversies surrounding the Bitfinex and Tether case arose, but they were not accompanied by nervous declines. Recall that at the time, the New York Attorney General accused the cryptocurrency exchange of losing $850 million and using stablecoin funds to hide the loss. Lee is known for his predictions about the course of cryptocurrencies. On April 29, he predicted that BTC will reach the last ATH ($20,000) by 2020. However, it is worth remembering that he has been rallying throughout 2018. As we know today, he made a huge overshoot, as Bitcoin and all altcoins fell intensely throughout this period. BTC fell from $20,000 to $3,000 and only found a bottom at that level. Lee's colleague The other stock bull - Mike Novogratz - wrote on Twitter that the new bubble on digital currencies will be different from all previous ones. What does he mean? Well, in his opinion, this whole market has matured to such an extent that there is no longer a chance for various tokens and cryptocurrencies to be as successful as BTC. He believes that they will not grow as strongly as they did two years ago. On the other hand, it is not hard to find opinions that it will be different and it will be other cryptocurrencies (such as ETH) that will outperform BTC during the new bull market. Tags bull market bitcoin Bitcoin Cash price bull market cryptocurrencies Mike Novogratz Tom Lee
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