Tom Lee’s Bitcoin Predictions
Tom Lee of Fundstrat Global Advisors believes Bitcoin could reach $150,000 within 12 months due to rising demand and limited supply. Furthermore, Lee predicts it could hit half a million in five years depending on demand/supply dynamics.
Lee believes regulatory uncertainty is helping propel Bitcoin forward, and has shared this reasoning on CNBC’s “Squawk Box.”
1. Expectations for 2024
Bitcoin prices have experienced a substantial price decline recently, yet its future remains a subject of considerable debate. Tom Lee from Fundstrat Global Advisors shared his views recently and believes BTC will reach $180,000 by 2024.
His optimism stems from several factors. Primarily, he believes that SEC approval of a spot Bitcoin ETF will significantly boost demand for it; according to him, an ETF would attract large sums of capital, driving prices even higher.
He further emphasizes the increasing adoption of Bitcoin by more companies as their preferred form of payment, further strengthening its network value and underscoring how beneficial cryptocurrency can be for individuals who may otherwise not gain from existing financial systems.
Furthermore, this expert believes that 2024 marks only the start of a major crypto bull run as more institutional investors enter the space shortly thereafter. Furthermore, Bitcoin’s blockchain will experience its next halving event in April of 2024, further fuelling this momentum.
This event should lead to a drastic reduction in Bitcoin supply, leading to further price gains. Pantera Capital’s Joey Farrell predicts that prices of BTC could reach six-figure levels after this event takes place.
Venture capitalist Tim Draper recently voiced his confidence in Bitcoin’s future during an On The Ledger podcast interview, where he predicted its price would reach $250,000 within four years and coincide with April 2024’s Halving event. It should be noted, however, that these predictions cannot be taken as sure-fire predictions as many factors impact its destiny – hence why conducting an in-depth market analysis prior to investing is critical and also remember that cryptocurrency investments can have high risk potentials and loss.
2. Expectations for 2023
Bitcoin price predictions abound online, though most are simply speculation. Fundstrat analyst Tom Lee claims to possess some actual knowledge regarding the future of cryptocurrencies like Bitcoin. Recently he spoke with CNBC’s Julia La Roche about this market and shared his insights.
He predicts 2024 could be an exceptional year for both the stock market and Bitcoin (BTC). Fundstrat Global Advisors managing partner Tom Lee sees two main tailwinds that should help propel both markets next year: central banks moving from hawkish to dovish stances is another boost that may ease inflation concerns while strengthening cyclical sectors of the economy.
Second, he believes the cryptocurrency market will finally garner institutional interest. At present, large institutions cannot invest due to regulatory barriers; but if BlackRock’s recent filing of a spot ETF with the SEC is approved it could open the floodgates for billions to enter this industry.
Last but not least, he believes there is an excellent chance that more companies will start accepting Bitcoin as payment, providing it with new uses and increasing its value. One major company like Amazon or Facebook accepting it could boost Bitcoin’s worth dramatically.
Though Tom Lee remains optimistic, he predicts the cryptocurrency market to experience some difficulties during the first half of 2024, due to uncertainty around Federal Reserve policy and estimates there is only a 20% chance of recession. Investors should focus more on fundamentals rather than technical charts; so long as no significant events take place, recovery should take place gradually. The post Tom Lee’s Bitcoin Predictions for 2020-2024 appeared first on Bitcoinist.
3. Expectations for 2022
Thomas Lee, co-founder of Fundstrat Global Advisors, made some bold Bitcoin predictions during an interview. He predicted that BTC will reach over $150,000 within one year and could possibly hit half a million within five years, providing many reasons to back up his bullish prediction.
First, Lee highlights how large asset managers are beginning to invest in cryptocurrency industry, which will bring new institutional investors and increase liquidity – potentially pushing Bitcoin prices upward. Furthermore, he does not view the current crypto bear market as worrying since it will help clear away bad actors in the industry.
Fundstrat’s co-founder believes that the upcoming Bitcoin Halving is another key driver of price growth. This event occurs every four years and decreases the rate at which new bitcoins are created – it has played a pivotal role in previous price rallies of Bitcoin.
Lee believes that if the Federal Reserve reduces interest rates in the US, this would be advantageous to Bitcoin as low rates tend to correlate with risky assets like cryptocurrencies.
However, an increase in interest rates by the Federal Reserve could prove harmful to Bitcoin’s price and lead to its decrease. But Fundstrat co-founder Tom Lee remains optimistic that demand will outstrip supply and drive up Bitcoin prices to all-time high levels.
Though Bitcoin’s price can be used as an indicator of value, past events show it to be unreliable. When investing, be wary as prices can drop below $10,000 for extended periods. Monitor market closely and invest wisely. Bulls remain strong this year – this year could mark record breaking returns. To learn more about cryptocurrencies or to invest safely visit our Cryptocurrency Education Center; also follow us on Twitter for the latest updates in this space – good luck!
4. Expectations for 2021
Fundstrat’s Tom Lee may not always be accurate when making his Bitcoin price predictions, but the managing partner believes the cryptocurrency is poised for another bull run. In an interview with CNBC, Tom discussed current state of cryptocurrency as well as what can be expected in 2021.
According to him, several factors are set to propel BTC higher in the near future. He believes that an weakening dollar will contribute to further increasing BTC’s value and that its correlation with stocks may cause investors in that sector to react similarly in bitcoin’s space.
Lee also noted the prospect of inflation rates starting to recede, creating an encouraging environment for cryptocurrency like Bitcoin. According to Lee, this would allow central banks to relax their grip on financial markets and facilitate growth of its market capitalization into two trillion dollars, placing Bitcoin alongside world’s top tech firms in terms of market cap value.
He noted that another factor which could help push Bitcoin prices higher is its supply declining over time, such as every four years when half of it gets eliminated – and consequently leading to greater demand from investors; which in turn could push up to $180,000 over just several short years.
Lee also discussed how the SEC’s decision on Bitcoin ETFs could give cryptocurrency an enormous boost. If approved by regulators, if could open trillions of dollars that have been held back due to regulatory restrictions. If so, this could push up Bitcoin price significantly – potentially taking it even higher and possibly setting off another cycle. This development is something investors are keeping an eye on for future changes.