Rocket bound for Bitcoin? The millionaire Tom Lee is the type to make price predictions on Bitcoin (BTC) for years (at least since 2017, according to our records). If they often turn out to be underestimated or overestimated afterwards, these predictions are always interesting to listen to, because sincerely believes in long-term adoption from the invention of Satoshi Nakamoto. So even in his most pessimistic scenario, Tom Lee sees the BTC price increase.
If a Bitcoin spot ETF was accepted, the crypto could go “to $180,000”
It’s during the show Squawk Box from the CNBC channel, that Tom Leeco-founder of Fundstrat, has once again Express on the subject of Bitcoin. As he is quite regularly accustomed to, he engaged in price predictions on the king of cryptos.
When asked by the journalist “what do you envision for Bitcoin by the end of next year”, the millionaire investor replies with confidence that he thinks BTC could reach at $150,000 or even $180,000the unit from here end of 2024. But only if an exchange-traded fund (AND F) spot of bitcoin is approved over there Securities and Exchange Commission (DRY) the United States.
” Well ! If a spot Bitcoin ETF is approved, I think the demand will be greater than the supply (…). Because of this, according to Sean Farrell, our cryptocurrency strategist, the price of BTC could be above $150,000. It could even reach $180,000. But this will only be possible if the spot Bitcoin ETF is approved in the USA. [par la SEC]because such BTC spot ETFs have already been approved outside [des États-Unis]. »
Tom Lee
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Even without an ETF, the price of BTC will “rise thanks to the halving”
But what if SEC regulators manage, through sleight of hand (and bad will), not to accept one of Bitcoin’s many spot ETFs? Well ! Tom Lee is convinced that the price of the king of cryptos will still manage to increase significantly.
This, thanks to halvingwhich should occur in end of April 2024. This process will see become scarce the production of BTC on the blockchain network, since the block reward received by minors will then be again divided by two (going from 6.25 to 3.125 BTC).
” [Même sans ETF spot BTC,] there will still be bull calls [des cours] because of the halving that will happen next year. You will therefore again have a lower supply. Prices should therefore increase, but perhaps not up to six figures. »
Without the approval of a spot ETF American, Bitcoin would therefore be doomed to remain under $100,000 ? This review by Tom Lee is not not shared no other observers of the cryptosphere. Indeed, Adam Back, Blockstream CEO and cypherpunk well known to the crypto community, or even Mark Yuskofounder and CEO of Morgan Creek Capital Management, believe that Bitcoin will do very well in the six symbolic dollar digits just with the strength of his halving.
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