Tom Lee, Managing Director of Fundstrat, known for his bold predictions on Bitcoin, has once again made headlines with his expectations for the leading cryptocurrency. Despite the recent volatility in its price, Lee remains confident in significant gains for Bitcoin this year.
Speaking to CNBC, Lee dismissed claims that the bull market cycle driving Bitcoin’s rise is over. He believes that Bitcoin and other asset classes have not yet priced in the Federal Reserve’s potential adoption of a looser monetary policy, which can have an impact on the markets.
According to Lee, Bitcoin is still in the early stages of its upward trajectory and he expects it to reach $150,000 by the end of the year. He attributes the market’s recovery to the Fed’s expectation on inflation and its relatively dovish stance, which has made the market more dovish as well.
Lee also commented on the U.S. stock markets, which tend to move in tandem with Bitcoin. He expects more public companies to report strong quarterly earnings growth this quarter and notes that trillions of dollars are gradually flowing into the markets. He predicts that the earnings growth of publicly traded companies in the U.S. stock markets will continue to increase.
It is important to note that the information in this article should not be considered as investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.