Tom Lee, the founder and head of research at FundStrat Global Advisors, has once again vocalized a compellingly bullish forecast for Bitcoin (BTC).
During an engaging interview with CNBC, Lee projected an impressive potential upswing for Bitcoin, positing it might escalate to a staggering $150,000 within the next 12 to 18 months.
This prediction suggests a roughly 117% increase from its current standing, captured against the backdrop of Bitcoin’s role as a safeguard against fiscal instability.
“I think that sometime in the next 12–18 months, Bitcoin can be over $150,000. But that’s because the backdrop for BTC is so much more favorable today.”
Highlighting a trio of factors underpinning his optimistic outlook, Lee underscored the increasing clamor for a spot exchange-traded fund (ETF) as a primary driver.
According to Lee, the fervent investment flow into the spot Bitcoin ETF, coupled with the upcoming Bitcoin halving event, creates a ripe environment for Bitcoin’s value to climb.
The halving event is poised to reduce the cryptocurrency’s new supply.
Lee specifically pointed to the fresh inflows into spot Bitcoin ETFs, like BlackRock’s, which recently witnessed a nearly $800 million boost. He explained to CNBC that the demand increase observed with the introduction of new ETFs, coupled with the supply decrease due to halving, along with the expected easing of monetary policy, is likely to support risk assets.
He
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Author: Julius Mutunkei
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