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Tom Lee, co-founder and head of research at Fundstrat Global Advisors, recently joined 'Squawk on the Street' to discuss market predictions and the Bitcoin thesis.
Lee, who also contributes to CNBC, was once again proven correct in his view that inflation will continue to cool. As we enter the second half of the year, we set a new goal for the end of the year.
Lee believes S&amp;P earnings could even beat expectations. “Now that we're in the middle of the year, 2025 earnings are looking much stronger than we thought at the beginning of the year. We thought maybe 260. Probably closer to 275, maybe 280, even closer to 285,” he said.
Given the Fed's growing reasons to be dovish and the potentially softening employment picture, Lee suggests price/earnings multiples could be higher next year. “So I'd say U.S. stocks should be higher between now and the end of the year. We've already had a strong first half, and the second half won't be as strong as the first half, but we need to build on those gains,” he added.
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Lee also touched on the issue of Bitcoin. Although BTC dropped below 60,000, it is now almost back to 63,000. The analyst said the following about Bitcoin:
“Bitcoin will probably hit Mt. Gox is suffering from the start of distributions. “This has been a major pain point for many years, but if I had invested in crypto knowing that one of the biggest pain points would go away in July, I think that would be reason to expect a pretty sharp rebound in the second half.”
Lee still believes Bitcoin reaching $150,000 is a possibility.
One thing to keep in mind, according to Lee, is that Bitcoin makes most of its gains each year within 10 days. If you remove the top 10 days in a single year, Bitcoin actually has a negative return.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/previous-bull-oracle-tom-lee-shares-his-new-prophecies-for-bitcoin-btc-price/" rel="noopener noreferrer nofollow">Previous Bull Oracle Tom Lee Shares His New Prophecies for Bitcoin (BTC) Price</a>

Previous Bull Oracle Tom Lee Shares His New Prophecies for Bitcoin (BTC) Price

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Alte articole publicate pe 1 iul. 2024

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