A financial research company analyst expects Bitcoin to continue its price surge until year-end as it rides on bullish technical indicators and increasing market demand.

In a CNBC interview uploaded via YouTube, Fundstrat’s Tom Lee shared his thoughts on Bitcoin’s continuing dominance in the context of incoming US President Donald Trump’s convincing election.

Bitcoin’s price is currently trading at the $91k level, and Lee expects that the top digital asset will consolidate near the $90,000 level, with its technicals setting it up for a sustained run.

According to technical analysts, Bitcoin is on its fifth Elliot Wave cycle, indicating an expected rise, with a price of $130k to $145k by year-end. According to Lee, Bitcoin can easily target this price with increasing market volume and a friendlier monetary policy from the Federal Reserve.

Lee Explains Why Bitcoin’s Rally Continues

In a CNBC interview, Lee explained that increasing market demand and solid technical indicators support Bitcoin’s recent price surge. He noted that Bitcoin is now in a consolidation phase and will likely stay at the $90,000 level.

Bitcoin’s price, he says, aligns with the price action of other risk assets. But Bitcoin is different because it’s more stable and shows resilience. According to Lee, Bitcoin thrives in a risk-taking environment, and the political and economic landscape favors the digital asset.

Major indices like the S&P 500 and NASDAQ have dipped on support levels, which offers a solid foundation for future growth. The same trend is happe

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Author: Christian Encila