Bitcoin (BTC) Price May Surge Above $100,000 This Year, Predicts Fundstrat's Tom Lee

Tom Lee, head of research at Fund Strat Global Advisors and Chief Investment Officer at Fund Strat Capital, appeared on CNBC for his first post-election discussion.

Fund Strat Global Advisors head of research and Fund Strat Capital Chief Investment Officer Tom Lee made his first post-election appearance on CNBC. He shares his thoughts on the election outcome, revealing that while many failed to predict Trump’s victory, his team placed heavy stock in betting markets that indicated a potential win.

Lee points out the significant market rally that followed the election, which he believes reflects a substantial amount of capital that was previously pulled out of the market due to election-related uncertainties. He anticipates continued gains for assets like Bitcoin, small caps, and regional banks as a result of policy changes and investor sentiment.

Bitcoin To Rise Above $100,000

Lee suggests that while tax cuts and spending changes may not be effective in addressing the deficit, Bitcoin could serve as a hedge against it. He notes that as Bitcoin’s price increases, it could help offset liabilities related to the deficit.

He has predicted that Bitcoin may rise above the $100,000 level this year, with further increases expected in the following years. He is very optimistic and is convinced that the six figures is not far from reach for the flagship cryptocurrency this year.

The renowned permabull has highlighted the subsiding regulatory overhang as one of the key bullish catalysts.

Lee Backs Fed’s Rate Cut Decision

Amidst the positive sentiments in the broader market, the Fed recently implemented another rate cut of 25-basis-points. He believes that the Fed is taking the right approach at the moment, considering that the battle against inflation is mostly over and real interest rates are still too high. Lee supports the Fed’s move towards a neutral rate of around 3 percent, which he anticipates will be beneficial for markets and business investment.

As for the S&P 500, Lee predicts a 5 to 10 percent increase by the end of the year, attributing this to factors like the typical post-election rallies, a dovish Federal Reserve, and favorable seasonal trends.

The above is the detailed content of Bitcoin (BTC) Price May Surge Above $100,000 This Year, Predicts Fundstrat's Tom Lee. For more information, please follow other related articles on the PHP Chinese website!