Wall Street analyst creates new index that tries to tell you when to buy bitcoin || Bitcoin

Now is the time to shop for bitcoin, in keeping with a brand new "misery index" for the cryptocurrency created by a Wall Street contriver.
"When the bitcoin misery index is at 'misery' (below 27), bitcoin sees the simplest 12-month performance," Fundstrat international Advisors co-founder Thomas Lee aforesaid in a very Fri report. "A signal is generated concerning each year."
The bitcoin misery index is at eighteen. 8, its lowest since Sept. 6, 2011, the report aforesaid.
Similar to alternative sentiment indicators, the bitcoin misery index is supposed to be an investor indicator. Once the misery index is low, investors can purchase, and the other way around. The index is calculated on a scale of zero to a hundred and takes under consideration factors like the amount of winning trades out of the fullness and volatility.
The report comes at the tip of a troublesome week for bitcoin. The cryptocurrency's value has fallen concerning twenty four % from the high it hit on Mon once a slew of negative reports raised considerations concerning accrued restrictive scrutiny.
On Wed, a significant Hong Kong-based exchange aforesaid, some accounts could be compromised, whereas the U.S. Securities and Exchange Commission dilated its scrutiny to cryptocurrency exchanges and "wallets," that are corporations for storing digital assets. On Th, Japanese authorities suspended operations at 2 cryptocurrency exchanges for a month and ordered business enhancements at 5 alternative exchanges.
Also striking sentiment was a Wed report concerning the now-defunct Japanese exchange Mt. God that aforesaid the trustee of its funds sold-out roughly $400 million in bitcoin and its outgrowth bitcoin money

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