This week a well-known bitcoin optimist, an analyst at wall street and Executive Director of Fundstrat Tom Lee spoke about a new indicator which can help investors choose the right time to buy BTC. The name of the indicator is a simple and resounding: “Index of torment bitcoin”.
The indicator is a scale from 0 to 100, reflecting how difficult from an economic point of view, the times is going through a BTC. To calculate the index used by the opposite economic indicators taking into account such market factors BTC as a winning trade, volatility and more. The basis of the developed indicator formed the “index of misery”, was developed by economist Arthur Okun.
“Think of this indicator as a way to assess whether you are happy or upset that you own a bitcoin,” explained Lee.
When the index is low torment (less than 27 points on the scale), bitcoin shows the best 12-monthly indicators. Today the index is 18.8, the lowest rate since 2011. Because says: the time to buy.
Tom Lee is known that last year made some pretty accurate predictions about the price of cryptocurrency: as predicted by the expert, the market BTC/USD broke the mark of $10,000 and surpassed traditional assets by year-end. Lee also said that a healthy price of bitcoin in February 2018 — $6 000. Such minimum rate leading cryptocurrency demonstrated on the decline. Despite the fact that the cryptocurrency market is now in the grip of bears, Whether it is a bullish position.