• The Bitcoin Misery Index (BMI) was created in 2018 by Tom Lee, co-founder of Fundstrat Global Advisors.

  • The index includes the percentage of winning trades to the total number of trades and volatility; it is calculated on a 100-point scale, where zero indicates maximum suffering.
  • The index is considered “unprofitable” when its value is below 27. In contrast to the index, the closer the index is to zero, the louder the “buy” signal.