Mark Mason
Well-known member
Crypto Misery Index Signals Good Times Ahead
A ‘misery index’, a contrarian index for Bitcoin created by Fundstrat Global Advisors, is at the lowest point since September 6 2011, 18.8, signaling a buy.
The misery index ranges from 0 to 100 and whenever the index drops below 27 it is a signal that a Bitcoin price increase is ahead. The index is meant to be contrarian to depict “how happy or sad” it is to own Bitcoin so the lower it gets the more investors should expect Bitcoin to rise over the coming months and vice versa. “The last four times this was below 27…there was not a single instance with bitcoin not up 12 months later”, said Fundstrat’s co-founder, Thomas Lee.
Some factors that go into the index are the number of winning trades out of total trades along with volatility. Thomas Lee was J.P. Morgan Chase’s chief equity strategist before he founded Fundstrat and regularly issues reports and formal price targets for Bitcoin.
read more: https://www.dashforcenews.com/crypto-misery-index-signals-good-times-ahead/
A ‘misery index’, a contrarian index for Bitcoin created by Fundstrat Global Advisors, is at the lowest point since September 6 2011, 18.8, signaling a buy.
The misery index ranges from 0 to 100 and whenever the index drops below 27 it is a signal that a Bitcoin price increase is ahead. The index is meant to be contrarian to depict “how happy or sad” it is to own Bitcoin so the lower it gets the more investors should expect Bitcoin to rise over the coming months and vice versa. “The last four times this was below 27…there was not a single instance with bitcoin not up 12 months later”, said Fundstrat’s co-founder, Thomas Lee.
Some factors that go into the index are the number of winning trades out of total trades along with volatility. Thomas Lee was J.P. Morgan Chase’s chief equity strategist before he founded Fundstrat and regularly issues reports and formal price targets for Bitcoin.
read more: https://www.dashforcenews.com/crypto-misery-index-signals-good-times-ahead/
