Fundstrat Analyst Tom Lee Foresees Bitcoin Surging Past $100,000 This Year

Share This Post

Why is the Bitcoin price Up today

The post Fundstrat Analyst Tom Lee Foresees Bitcoin Surging Past $100,000 This Year appeared first on Coinpedia Fintech News

Tom Lee, head of research at Fund Strat Global Advisors and Chief Investment Officer at Fund Strat Capital, appeared on CNBC for his first post-election discussion. He reflects on the election outcome, acknowledging that while not many predicted Trump’s victory, his team placed significant weight on betting markets that indicated a potential win.

Lee notes the substantial market rally following the election and believes that this rally reflects a significant amount of capital that was previously withdrawn from the market due to election-related uncertainties. He anticipates continued benefits for assets like Bitcoin, small caps, and regional banks due to policy changes and investor sentiment.

Bitcoin To Surge Above $100,000

Lee suggests that while tax cuts and spending changes may not effectively address the deficit, Bitcoin could serve as a hedge against it. He mentions that as Bitcoin’s price rises, it could help offset liabilities associated with the deficit.

He has predicted that Bitcoin may surge above the $100,000 level this year, with further increases expected in the following years. He is very confident and is convinced that the six figures is not very far from reach for the flagship cryptocurrency this year. 

The famous permabull has emhasized that the regulatory overhang which is now subsiding, as one of the key bullish catalysts. 

Lee Supports Fed’s Rate Cut Move

Amidst the positive sentiments in the broader market, the Fed recently implemented another 25-basis-point rate cut. He believes that the Fed’s current approach is appropriate, as the fight against inflation is largely over and real interest rates remain too high. Lee supports the Fed’s move towards a neutral rate of around 3 percent, which he believes will be beneficial for markets and business investment.

Looking ahead to the S&P 500, Lee predicts a 5 to 10 percent increase by the end of the year, attributing this to factors like the typical post-election rallies, a dovish Federal Reserve, and favorable seasonal trends. 

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

XRP Below $1? Not Happening, Claims Millionaire Analyst

Ripple’s XRP has traded below the $1 level for nearly three years, affected primarily by the cases filed by the US Securities and Exchange Commission (SEC) Even during the mini bull run immediately

Howard Lutnick’s Firm, Cantor Fitzgerald To Work With Tether For $2B Project

The post Howard Lutnick’s Firm, Cantor Fitzgerald To Work With Tether For $2B Project appeared first on Coinpedia Fintech News As per the latest Bloomberg report, Financial services firm Cantor

As BTC Approaches $100K, Tether mints an additional $3 billion in USDT Tokens

The post As BTC Approaches $100K, Tether mints an additional $3 billion in USDT Tokens appeared first on Coinpedia Fintech News As Bitcoin approached the $100,000 price level, Stablecoin issuer

$495M Worth Crypto Liquidated In The Past 24 Hours Amid Market Correction!

The post $495M Worth Crypto Liquidated In The Past 24 Hours Amid Market Correction! appeared first on Coinpedia Fintech News Bitcoin plunged to the $95,000 level after failing to touch $100,000 on

BTC Slips To $96K, Liquidations Near $500M; Why Is Bitcoin Dropping?

The post BTC Slips To $96K, Liquidations Near $500M; Why Is Bitcoin Dropping appeared first on Coinpedia Fintech News This bull season, Bitcoin has seen one of the biggest price pumps in its history

Donald Trump’s Commerce Secretary picks Cantor Fitzgerald to collaborate with Tether on $2B BTC project

Financial services firm Cantor Fitzgerald, which serves as Tether’s banking partner, is looking to work with the stablecoin issuer on a program that will allow clients to borrow dollars against