Featured image from CoinMarketCap, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Tom Lee, Managing Partner and Head of Research at Fundstrat Global Advisors, recently commented on the future trajectory of Bitcoin. He also mentioned when the flagship crypto token could hit this particular price level.\u00a0 Bitcoin To Rise To $150,000 This Year Lee mentioned during an appearance on CNBC\u2019s \u201cSquawk Box\u201d that Bitcoin could rise to as high as $150,000 this year. His belief that BTC could rise to this price level is due to the fact that demand is improving with the Spot Bitcoin ETFs. These funds are known to have achieved significant success since launching, something which has positively impacted Bitcoin\u2019s price.\u00a0 Related Reading: Bitcoin Millionaire Takes A Shot At Cardano For Being A \u2018Wannabe Ethereum\u2019 \u2013 Details Lee alluded to the Bitcoin Halving as another factor that could contribute to Bitcoin\u2019s rise to $150,000. He specifically noted how the crypto token\u2019s supply is going to shrink once the Halving event takes place. Interestingly, industry expert Anthony Pompliano recently highlighted how the demand for BTC was outpacing its supply.\u00a0 This trend is expected to continue once the Halving takes place, as the amount of BTC mined daily will drastically reduce. Meanwhile, Spot Bitcoin ETFs and other institutional investors are expected to keep stacking up the crypto token without any hesitation. Lee also noted that a monetary easing, which is expected this year, would be favorable for a risk asset like Bitcoin. With inflation cooling off, the Federal Reserve is projected to cut down on interest. This will no doubt provide a bullish narrative for Bitcoin as investors are expected to double down on their investment in the crypto token once this happens.\u00a0 BTC Still Headed For $500,000 Tom Lee had predicted during an appeearnce on Squawk Box in January this year that BTC would rise to $500,000 in the next five years. He once again reaffirmed this prediction during his most recent appearance on CNBC. According to him, \u201cBitcoin is sound money, and it is proving to be useful,\u201d which makes this price level attainable.\u00a0 Related Reading: Dogecoin Begins Massive Recovery Trend, But Can These Factors Drive A Rally To $0.2? Elaborating on how Bitcoin is useful, he stated that the crypto token has been a great store of value and also a good risk asset. He added that BTC is \u201cincredibly secure\u201d as there has been an issue of any fraudulent entry on the blockchain since its inception. The same cannot be said of banking institutions, which Lee noted have a lot of fraudulent transactions.\u00a0 When quizzed about how Bitcoin is used for nefarious activities, he highlighted how the Dollar is used for a large percentage of crimes that take place, and no one questions its utility. At the time of writing, Bitcoin is trading at around $51,800, up in the last 24 hours, according to data from CoinMarketCap.\u00a0 BTC price at $51,900 | Source: BTCUSD on Tradingview.com Featured image from CoinMarketCap, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":576367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,6848,1119,89185,1122,1144,78790,13103,91707,91708],"class_list":["post-576363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-prediction","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-fundstrat","tag-fundstrat-exec","tag-fundstrat-news"],"acf":[],"yoast_head":"\n
Fundstrat Exec Predicts Bitcoin Will Reach $150,000, Here\u2019s When<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n