The Ten Rules of Bitcoin Investing: Rule No. 2
- Tom Lee's First 5 Bitcoin (Replay)
- The Ten Rules of Bitcoin Investing: No. 1
- The Ten Rules of Bitcoin Investing: No. 3
- The Ten Rules of Bitcoin Investing: No. 4
- The Ten Rules of Bitcoin Investing: No. 5
(FSInsight.com’s head of research Tom Lee revealed the first five of his ten rules of Bitcoin investing on April 23, 2020, and gave an updated outlook for the remainder of the year. The webinar is available on the website and the following is a condensed version of his comments. This is the second in a series of 10 reports from his webinar, one for each of his rules. Stay tuned for the next one.)
The Ten Rules of Bitcoin Investing: Rule No. 2
Rule #2: Consensus mostly right, thus Bitcoin Misery Index
The Bitcoin Misery Index (BMI) is a diffusion index, a proprietary tool that we invented for our clients interested in cryptocurrency investing. In essence, the BMI is a proxy for how investors feel about bitcoin’s “price action.” It measures the expected sentiment of a holder of bitcoin (where a reading of 50=Neutral, <27=Misery, and >67= Happy).
Though we do not recommend timing the market, the BMI has had a very instructive practical history. Theoretically, it has been a good way to evaluate Bitcoin’s price for those who have timed Bitcoin via BMI, as yo...Unlock this article by joining our Community!
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