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Author Topic: ‘Pleasantly Surprised’ by Drop in Crypto Volatility  (Read 66 times)

moon

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‘Pleasantly Surprised’ by Drop in Crypto Volatility
« on: October 31, 2018, 10:35:23 PM »

Bitcoin Bull Tom Lee ‘Pleasantly Surprised’
by Drop in Crypto Volatility




Over the past several weeks, the bitcoin price has been uncharacteristically stable, even as equities have lost their footing and the global stock market has flirted with corrective territory.

Tom Lee, the founder of Fundstrat Global Advisors and one of Wall Street’s most well-known bitcoin bulls, said that he was pleasantly surprised by the drop in crypto volatility, particularly when juxtaposed with the stock market’s recent swings.

He told CNBC:

Quote
“It’s surprising given how small bitcoin is in terms of market cap. The total crypto market cap is $200 billion, on close to $90 trillion of global assets that have actually seen a correction…so I’m pleasantly surprised.”

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