New Bitcoin Misery Index Indicates STRONG BUY
Buy Low, Sell High
A “Bitcoin Misery Index” has been created by Tom Lee, a Wall Street strategist.
The index, in theory should make it easier to identify good entry and exit points of Bitcoin investment. You should buy when index is low (falls below 27), and sell when it's high.
The index currently shows 18.8, indicating a STRONG BUY.
“The BMI [Bitcoin Misery Index] is telling us to keep the negative headlines in perspective. When the BMI is at a 'misery' level, future returns are very good."
The Crypto Globe also reports that:
Mt Gox trustee Nobuaki Kobayashi revealed he has sold roughly 35,800 BTC and 38,000 BCH, which roughly equals $405 million taking into account the dates in which these coins were sold. Kobayashi is still in possession of about 160,000 BTC, and further liquidations could be coming.
Which, according to Tom Lee could be painful in the short term, but not a deal breaker.
Is it time to BUY and HODL now?
Share your opinion in the comment section.
Yes but does the misery continue yet still before the explosion up?
Looking at the historical chart it looks like the 'misery' may continue for a good while, however the maximum 'misery' points indicated good entry points. However, as investment whales use to say: past performance is no guarantee of future results.