Reserve

Bitcoin

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/tom-lee-predicts-significant-gains-for-bitcoin-this-year/" data-wpel-link="internal">Tom Lee Predicts Significant Gains for Bitcoin This Year</a><br></p>
<p style="text-align: justify">Known for his bold <a href="https://en.coin-turk.com/bitcoin-price-trends-and-analyst-insights/" data-wpel-link="internal">Bitcoin</a> (BTC) predictions, Fundstrat’s Managing Director Tom Lee has once again made headlines. Despite the volatile price movements over the past six weeks, Lee reiterated his expectation for significant gains for the leading cryptocurrency this year.</p> 
<h2 style="text-align: justify" id="strong-reiterates-his-expectation-for-bitcoin-to-reach-150-000-strong"><strong>Reiterates His Expectation for Bitcoin to Reach $150,000</strong></h2> 
<p style="text-align: justify">Speaking to CNBC, Lee stated that the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">bull market</a> cycle driving Bitcoin’s rise is far from over, countering claims to the contrary. According to Lee, Bitcoin and other asset classes have not yet agreed that the Federal Reserve (Fed) will adopt a looser monetary policy, which occasionally puts pressure on the markets.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-348997" src="https://coin-turk.com/wp-content/uploads/2024/05/Tom-Lee-Bitcoin-BTC.png" alt="" width="3360" height="1750"></p> 
<p style="text-align: justify">“Bitcoin is still at the beginning of its upward phase. Therefore, we still expect it to reach $150,000 this year. I think the Fed’s expectation on inflation and its relatively dovish stance helps the market to be more dovish than it currently is. I believe this process is also the reason for the market’s recovery,” commented Lee, the Managing Director of Fundstrat.</p> 
<h2 style="text-align: justify" id="strong-risk-reward-ratio-still-quite-good-strong"><strong>“Risk-Reward Ratio Still Quite Good”</strong></h2> 
<p style="text-align: justify">Lee also commented on the U.S. <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">stock markets</a>, which generally move in tandem with Bitcoin, expecting more public <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">companies</a> to report strong quarterly earnings growth this quarter. He also noted that trillions of dollars sitting outside the markets are gradually moving into them, boosting the markets. Lee stated that the earnings growth of publicly traded companies in the U.S. stock markets is increasing and will continue to do so:</p> 
<blockquote> 
 <p style="text-align: justify">“We believe that companies’ quarterly earnings growth is accelerating. So far, companies’ first-quarter earnings have increased by 7%, but three sectors fell by 20%: Energy, Health, and Materials. We expect Energy and Health services to turn positive next quarter, thus reaching an 11% quarterly earnings growth,” he said.</p> 
 <p style="text-align: justify">“We know there is a lot of pent-up demand. Capital expenditures are increasing, ISMs are rising, and there is $6 trillion in cash on the sidelines, with people having been cautious for more than two years. I think the risk-reward ratio is still quite good,” he added.</p> 
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/tom-lee-predicts-significant-gains-for-bitcoin-this-year/" data-wpel-link="internal">Tom Lee Predicts Significant Gains for Bitcoin This Year</a></h5>

Tom Lee Predicts Significant Gains for Bitcoin This Year

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