Bitcoin

<figure><img src="https://u.today//sites/default/files/styles/1200x900/public/2023-06/6458_12.jpg" alt="Cover Image" width="800"
 height="500">
 <figcaption>Cover image via <a href="https://u.today/">U.Today</a></figcaption>
 </figure>After making his previous audacious prediction of Bitcoin potentially reaching $500,000, Fundstrat's Tom Lee <a href="https://twitter.com/fundstrat/status/1669772435980165120">seems optimistic</a> about the digital currency's recovery.In his latest tweet, Lee applauded a "good day" for Bitcoin and digital assets. However, it is worth noting that he has a history of being a permabull in the crypto market, which means that many of his forecasts have proven inaccurate.This latest market recovery, prompted by BlackRock's application for a spot Bitcoin ETF, has pushed Bitcoin to $26,371.81, a 3.5% increase in 24 hours.The shares of MicroStrategy are up by more than 5%, and the discount on Grayscale's GBTC has narrowed, adding to the positive sentiments in the crypto market.<a href="https://u.today/pro-ripple-lawyer-highlights-major-inconsistency-in-hinman-emails">card</a>In a series of tweets <a href="https://twitter.com/fundstrat/status/1657479648379387904">back in May</a>, Lee made reference to Fundstrat's crypto presentation. He suggested Bitcoin's lows could lead to a surge between $250,000 to $500,000, views also echoed by figures such as Cathie Wood and Tim Draper.<img alt="BTC" data-entity-type="file" data-entity-uuid="94decc8a-b3ca-4b0d-a608-f4a0f853880e" src="https://u.today/sites/default/files/inline-images/FwCM9ITXoAEJuMS.jpeg" />Image by <a href="https://twitter.com/fundstrat/status/1657479648379387904/photo/1">@fundstrat</a>His tweets emphasized the correlation between the performance of Bitcoin and equity markets, underlining that cryptocurrencies tend to thrive when traditional markets like the S&amp;P 500 are robust.Lee also pointed out the potential stumbling blocks for the crypto market in the U.S., alluding to "Operation Chokepoint 2.0" as a prospective headwind.Regardless of these challenges, and despite his track record of incorrect predictions, Lee's bullish stance remains undeterred.

After Predicting $500,000 Bitcoin Price, Fundstrat's Tom Lee Applauds BlackRock-Fueled Recovery

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After Predicting $500,000 Bitcoin Price, Fundstrat&#039;s Tom Lee Applauds BlackRock-Fueled Recovery