Fundstrat World Advisors Chief Investment Officer Tom Lee confidently predicted in a forecast that Bitcoin will discontinuance “effectively above $100,000” sooner than the pause of 2024.
Talking on CNBC, Lee touched on the increasing momentum within the cryptocurrency market despite latest mark hesitations round six-settle figures.
Lee pointed to the itsy-bitsy provide of Bitcoin on over-the-counter exchanges as a key ingredient utilizing this doable surge. He suggested that the itsy-bitsy provide may perchance consequence in a “mammoth mosey” as prices rise, constructing further upward tension. Whereas he acknowledged that the psychological resistance is at $100,000, he said he was optimistic that Bitcoin may perchance derive away decisively within the following four weeks.
That bullish sentiment furthermore aligns with Lee’s broader outlook for monetary markets. Lee furthermore predicted a yr-pause rally for the S&P 500, doubtlessly reaching 6,300 aspects. Lee cited favorable seasonality, falling bond yields, contrarian market sentiment and supportive fiscal and fiscal insurance policies as utilizing factors.
*Here’s no longer investment advice.
