Bitcoin

when

Read

Grayscale Bitcoin Trust

Tom Lee, the founder and head of research at FundStrat Global Advisors, has once again vocalized a compellingly bullish forecast for Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>).&nbsp; 
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.&nbsp; 
<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="Bitcoin can top $150,000 in the next 12-18 months, says Fundstrat's Tom Lee" width="1020" height="574" src="https://www.youtube.com/embed/F02qPg_9O0g?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div>
</figure> 
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.&nbsp; 
“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 (<a href="https://crypto.news/etfs-will-bitcoin-hit-a-fresh-all-time-high-in-2024/" target="_blank" rel="noreferrer noopener">ETF</a>) as a primary driver.&nbsp; 
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.&nbsp; 
The halving event is poised to reduce the cryptocurrency’s new supply. 
 You might also like: <a href="https://crypto.news/bitcoin-etf-michael-saylor-microstrategy/"> Saylor: Bitcoin ETFs surpass traditional assets, MicroStrategy expands to $700m investment </a> 
Lee specifically pointed to the fresh inflows into spot Bitcoin ETFs, like <a href="https://crypto.news/blackrock-and-fidelitys-bitcoin-etfs-break-into-top-10-with-4-8b-january-inflow/" target="_blank" rel="noreferrer noopener">BlackRock’s</a>, 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 also mentioned that these ETFs now have over $28 billion in assets, surpassing the assets in the Grayscale Bitcoin Trust ETF (GBTC) for the first time. This milestone signals strong institutional interest in Bitcoin. 
Lee further elaborated on the supply-demand discrepancy, particularly ahead of the Bitcoin <a href="https://crypto.news/the-potential-impact-of-bitcoin-halving-on-the-cryptocurrency-market-opinion/" target="_blank" rel="noreferrer noopener">halving</a> event, which is anticipated to exacerbate this imbalance in favor of price surges. 
On the regulatory front, Lee conveyed an optimistic view. He suggested that Bitcoin might have already traversed the toughest phase of <a href="https://crypto.news/trump-warms-up-to-bitcoin-signals-openness-to-regulation/">reg</a><a href="https://crypto.news/trump-warms-up-to-bitcoin-signals-openness-to-regulation/" target="_blank" rel="noreferrer noopener">ulatory</a> challenges over the past 18 months.&nbsp; 
He suggested that considering the intensity of regulatory actions experienced in the crypto space in the past 12 to 18 months, it is unlikely, from his perspective, that the regulatory challenges for Bitcoin will intensify further. 
The forecast comes at a time when Bitcoin has seen a slight cooling off after hitting a new <a href="https://crypto.news/bitcoin-all-time-high-70000/" target="_blank" rel="noreferrer noopener">all-time high</a> of $70,083 on March 8. Despite a minor dip below the $68,300 threshold, Bitcoin’s resilience remains notable. 
<figure class="wp-block-image">
 <img loading="lazy" decoding="async" width="1600" height="1168" src="https://crypto.news/app/uploads/2024/03/image-21.png" alt="Bitcoin’s bullish horizon: Tom Lee forecasts $150,000 target - 26" class="wp-image-14257095">
 <figcaption class="wp-element-caption">
 Bitcoin 24-hour price chart | Source: CoinGecko
 </figcaption>
</figure> 
At the time of writing, the coin’s price was up 1.5% over 24 hours. Bitcoin was changing hands at $69,308, per <a href="https://www.coingecko.com/en/coins/bitcoin" target="_blank" rel="noreferrer noopener">data</a> from CoinGecko. Its trading volume over that period suffered a nearly 39% dip, ending the day with a value of $31,576,168,688. 
Lee’s insight into Bitcoin’s potential trajectory offers a gleaming beacon for bullish investors and a fascinating storyline in the dynamic world of cryptocurrency. 
 Read more: <a href="https://crypto.news/bitcoin-etf-gold-investing/"> Traditional investors prefer Bitcoin ETFs to gold </a>

Bitcoin’s bullish horizon: Tom Lee forecasts $150,000 target

crypto.news

2024년 3월 10일에 게재된 다른 기사

Bitcoin Crosses $70k, Pix Crypto Captures Millions Of Users

Ubisoft Joins Forces with XPLA as a Node Validator to Revolutionize Web3 Gaming

Watch Out: There Are Many Economic Developments and Altcoin Events in the New Week – Here is the ...

Claude 3 unveiled: Meet the AI set to unthrone ChatGPT

Is Bitcoin in danger of falling to $66K?

Ulasan Kripto Maret 2024: Pelemahan Bitcoin Cash (BCH), Dinamika Cronos Coin dan Presale BlockDAG

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!