Tom Lee says in a new interview that there will be two big headwinds next year. Bitcoin He is of the opinion that it will increase the
“The first is the reversal of monetary policy. Central banks are getting really dovish. There was no decline in crypto during a time when the Fed was relaxed. Secondly, it is a way to reach more customers due to the possibility of the Bitcoin spot ETF being approved.
It’s a $2 trillion asset class that you can’t access through your 401(k) today. “But if you make it available through a spot ETF, remember that US households have $170 trillion in investable capital.”
Lee is of the view that if people put just 1% of their 401(k)s into Bitcoin, it could flood the BTC supply. The analyst states that this may also increase prices.
“I think Bitcoin could have a very strong year next year.”
On the other hand, James Seyffart, an exchange-traded fund research analyst at Bloomberg Intelligence, predicts that the first spot BTC ETFs will be approved next month.
Bitcoin is trading at $43,402 at the time of writing this news.