Bitcoin

April

Read

mirror

<p class="is-style-lead">Tom Lee of Fundstrat foresees a potential surge in Bitcoin’s value, particularly if the US approves spot Bitcoin ETFs, hinting at prices exceeding $150,000.</p> 
<p>In a recent CNBC interview, Tom Lee, co-founder of Fundstrat Global Advisors, predicted a potential surge in Bitcoin’s value, especially if spot Bitcoin exchange-traded funds (ETFs) receive US approval.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
 <div class="wp-block-embed__wrapper"> <iframe title="Inflation is on a glide path towards sub-2% by the middle of next year, says Fundstrat's Tom Lee" width="1020" height="574" src="https://www.youtube.com/embed/ir8jYyrBY5s?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div> 
</figure> 
<p>Lee believes that if the US greenlights several spot <a href="https://crypto.news/tag/bitcoin-etf/" data-type="link" data-id="https://crypto.news/tag/bitcoin-etf/" rel="noopener noreferrer nofollow">Bitcoin ETF</a> applications, Bitcoin’s demand could overtake its daily supply, possibly driving its price beyond $150,000. While spot Bitcoin ETFs are available in Europe, US approval could create a larger ripple effect due to the nation’s significant role in crypto-related ETF trading.</p> 
<p>This bullish outlook coincides with expectations surrounding Bitcoin’s next halving event in April 2024, which many predict will result in increased scarcity and a subsequent price hike. Regardless of the outcome of current ETF applications, Lee foresees a price rise due to the halving’s effects.</p> 
<p> You might also like: <a href="https://crypto.news/billionaire-rubenstein-calls-bitcoin-mainstream-adoption-inevitable/" rel="noopener noreferrer nofollow"> Billionaire Rubenstein calls Bitcoin mainstream adoption inevitable </a> </p> 
<p>The US Securities and Exchange Commission (SEC) can take up to 240 days to finalize its decision on Bitcoin ETFs. With industry giants like BlackRock entering the fray, many speculate that approvals may be imminent.</p> 
<p>However, industry voices like Jesse Myer, co-founder of Bitcoin investment firm Onramp, caution that the market might not instantly mirror these optimistic projections. Despite varying opinions, the speculation around Bitcoin’s future pricing remains a focal point in the crypto world.</p> 
<p> Read more: <a href="https://crypto.news/rich-dad-kiyosaki-disputes-wsjs-economic-narrative-advocates-bitcoin/" rel="noopener noreferrer nofollow"> ‘Rich dad’ Kiyosaki disputes WSJ’s economic narrative, favors Bitcoin </a> </p>

Tom Lee expects Bitcoin at $150k with spot ETF approvals

crypto.news

Other articles published on Aug 17, 2023

Riot Platforms Achieves Milestones in Bitcoin Mining and Power Strategy

“Unveiling the Latest Crypto Developments: A Recap of Today’s Market Insights”

Tether Ends Support for Kusama, Bitcoin Cash SLP, and Omni Layer

Blockchain Sei (SEI) activated: Crypto counters are exploding!

Wall Street Veteran Identifies Altcoin Value: XRP, ALGO, and XLM at Discount

Solana Price Analysis: Analyst Expects SOL Price Drop To $16 In Coming Weeks

Join our free newsletter for daily crypto updates!