Tom Lee, founder and director of research at Fundstrat Global Advisors. Bitcoin He updated his estimate that the price could reach six figures. Lee expects a value increase of over 119% in the next two years.
Lee stated in a new CNBC interview that Bitcoin could gain approximately 119% in value in the next two years.
Stating that a number of factors have come together that will take BTC to higher levels, the Fundstrat manager said, “I think Bitcoin can rise above $ 150,000 in the next 12-18 months. “The reason behind this prediction is that there is now a much more suitable ground for Bitcoin,” he said.
“There is more visible demand from the spot exchange-traded fund (ETF) and we know the supply dynamic is improving with the halving event taking place in about a month,” Lee said. “The Federal Reserve’s loosening of its policy helps Bitcoin gain value,” he said.
From a regulatory perspective, Lee stated that there have been many regulatory moves in the last 12 months, even 18 months, and said, “If the situation does not get worse, Bitcoin has already reached the highest point of regulatory reactions.”
Lee states that he took a closer look at BTC inflows and that Bitcoin is currently experiencing a supply-demand imbalance.
“We saw strong spot Bitcoin ETF demand in inflows, with BlackRock seeing almost $800 million in inflows. I think this is a sign of an unbalanced market; “There is huge demand for Bitcoin and the current supply is not enough,” he added.
At the time of writing, Bitcoin’s price is trading at $68,350 and is up nearly 2% in the last 24 hours.
