Tom Lee: the fall of the cryptocurrency market is over, but wait for the growth earlier

Analysts at Fundstrat Global Advisors, led by Tom Lee believe that the fall in the cryptocurrency market has ended, but is preparing a new wave of growth is still early.

Based on previous behavior of the market altcoins, analysts have identified a trend according to which the fall takes about the same time as the preceding growth.

The previous growth lasted 62 days, and the current drop during which most altcoins fell by 75%, lasts for 64 days. According to this trend, the current market decline is already over.

However, preparing for a new wave of growth yet. According to the same trend, after a decline followed by a period of consolidation, which can last from 70 to 230 days. If the investor for some reason wants to keep their funds in bitcoin, today it is best to keep all your investments in bitcoin.

«According to our analysis, the period of consolidation can last from 150 to 175 days. Change of trend will occur in the period from mid-August to mid-September. In this period the expected growth of the market of altcoins,» writes Tom Lee.

This year, the cryptocurrency market is experiencing increased pressure from regulators. In the first place under a strong pressure were projects of the ICO (initial placement of coins). For example, the Commission on securities and exchange Commission has sent subpoenas to several such projects that are suspected of violating the securities laws.

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