NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Smashes Past $13,000: What Fundstrat Says is Behind BTC’s Strength

Nick Chong
Nick Chong
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Last week, Bitcoin was nursing a heavy hangover, which took hold of the cryptocurrency market after BTC hit and failed to break through $13,800. BTC was in the dumps, having lost 30% from its year-to-date high, and altcoins were doing even worse, with assets like Ethereum and Litecoin bleeding against the market leader.

Also Read: Italian Paper Labels Bitcoin a “Ponzi Scheme” as Euro on Verge of Recession

But, bulls have managed to regain control of the digital asset market, commencing a strong (re)rally that began last week. Now, Bitcoin has hit $13,000 yet again — and looks stronger, both technically and fundamentally, than it did last time.

Here’s what is driving Bitcoin and will continue to be a bullish catalyst in the future, according to Fundstrat Global Advisors anyway.

Fundstrat Global Advisors' Thomas Lee shares his take on Bitcoin's rally pic.twitter.com/bQ0nIFssSW

— Power Lunch (@PowerLunch) July 9, 2019

Bitcoin is Caviar For Hedge Funds

Speaking to CNBC’s “Power Lunch” panel, Tom Lee of Fundstrat laid out three primary reasons why Bitcoin has and could continue to see growth.

First off, Lee explains that Bitcoin is becoming increasingly attractive to institutions, especially hedge funds, many of which are underperforming key indices due to their risk-averse nature.

The staunch cryptocurrency bull points out that if a fund added 2% of BTC at the start of the year, their portfolio would already be up 400 basis points. This, in the current economy, is “caviar for hedge funds”, according to Lee.

What’s interesting is that hedge funds are reported to be behind this rally. Per previous reports from NewsBTC, a report from FN London explained the following on the matter of BTC rallying and outperforming altcoins:

“Macro managers and high net worth individuals are generally, in my experience, focused almost entirely on Bitcoin.”

There is still a ways to go. For some perspective, Winton, a British investment management firm, estimates that hedge funds worldwide hold a minimum of $3 trillion in assets. The entire value of the cryptocurrency asset class is around 10% of that.

Insurance Against Macroeconomic, Fiscal Risk

Secondly, Bitcoin is increasingly finding value and proving itself as a hedge against macroeconomic and fiscal risk. You’ve already seen that in Hong Kong, where LocalBitcoins volume has spiked and local exchanges have registered premiums due to the protests against the government.

In Turkey, BTC has already hit new all-time highs against the Turkish Lira because of hyperinflation and a need for money that is relatively sound.

And, Bitcoin is being widely acknowledged as a hedge by notable mainstream media personalities, Silicon Valley/Wall Street investors, and economists.

Facebook has Validated Crypto

And lastly, Facebook has ensured the survival of the crypto industry with Libra. And, more importantly, the launch of the corporate, Silicon Valley coin should be a boon for Bitcoin.

Libra further validates the idea that digital money is a viable technology, building on the work of Bitcoin, Ethereum, and even ventures like JP Morgan Coin. Few consumers have actually adopted cryptocurrency, despite the fact that it occupies the front pages of newspapers and headlines of digital outlets across the globe.

Per a survey conducted by Blockchain Capital, 9% of Americans aged 18 to 65+ owned Bitcoin — far from “mass adoption.” And it’s possible that 9% is too high. But this all changes with Libra, because by simple virtue of network effects and the curiosity of individuals, they will find their way to Bitcoin.

At least a fraction of its users will “stumble across Bitcoin,” as BlockTower’s Ari Paul put it. From there, these users, armed with knowledge of Libra’s benefits and shortcomings, will likely begin to get involved with Bitcoin, creating a capital inflow and a boost to the asset’s network effects. Even if a conservative 5% of Facebook’s active user base finds its way to Bitcoin, the size of the cryptocurrency community will easily grow dramatically.

With all this in mind, Lee concluded that “new all-time highs” for Bitcoin could very well be “imminent”. This latest bullish statement comes shortly after he told Binance’s chief financial officer, Wei Zhou, that once BTC breaks past $10,000, he would be inclined to suggest that a “fast and furious” move to $20,000 and then a further leg up to $40,000 is possible.

Related Reading: Crypto Analyst: Bitcoin (BTC) Dominance May Reach 80%, Altcoins Expected to Bleed
Featured Image from Shutterstock
Tweet123Share242ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Trump

TRUMP Meme Coin Plants Flag On TRON Network—Details

Meme coin TRUMP made waves when it launched on Solana on January 17, 2025, issuing 200 million tokens out of a...

Christian Encila 3 hours ago

Ethereum raggiunge i 6 miliardi di dollari in fondi tokenizzati mentre i grandi investitori entrano in gioco.

La piattaforma di smart contract di Ethereum ha superato una soglia storica: secondo i dati condivisi da Token Terminal su...

clararosati 5 hours ago

Letni zastój na rynku Bitcoina? Niektóre wolumeny najniższe od lat

Dane on-chain pokazują, że wolumeny handlu Bitcoinem na rynku spot i rynku futures spadły do nowych minimów, mimo że cena...

newsbtc 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

PEPE

PEPE Traders Spot Breakout Echo—Explosive Surge Back On The Table?

Christian Encila 43 minutes ago
Snaky Way Presale Live: AI Meme Coin $AKE Gears Up for Bull Run

Snaky Way Presale Live: AI Meme Coin $AKE Gears Up for Bull Run

Aaron Walker 2 hours ago
Solana

Solana’s Pump.Fun Loses Steam With Exit Scam Rumors, LetsBonk.Fun Claims 54% Of Total Market Share

Scott Matherson 3 hours ago

Premium Sponsors

Press Releases

  • Felpörgő alternatív kriptovaluta a Dogecoin (DOGE) helyett – 650 dollárból 65 000 dollár lehet 4 hónap alatt

    Felpörgő alternatív kriptovaluta a Dogecoin (DOGE)...

    42 minutes ago
  • 3 figyelemre méltó altcoin 2025. júliusának első hetében

    3 figyelemre méltó altcoin 2025. júliusának első...

    2 hours ago
  • Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD udělá 65 000 USD za 4 měsíce

    Oblíbená alternativa Dogecoinu (DOGE), která z 650 USD...

    4 hours ago
  • 3 altcoiny, které sledovat v prvním týdnu července 2025

    3 altcoiny, které sledovat v prvním týdnu července 2025

    4 hours ago
  • Trendingowy alternatywny kryptowalut dla Dogecoin (DOGE), który zamieni 650 USD na 65 000 USD w ciągu 4 miesięcy

    Trendingowy alternatywny kryptowalut dla Dogecoin (DOGE)...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.