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Investing.com – Since its annual record close to $45,000 marked on December 8, the stock seems to be hesitating, displaying an overall consolidation trend.
However, many believe that this is not a sign that the rise is over, but rather a resumption that constitutes a prelude to a new wave of strong rise in cryptocurrencies next year .
This is notably the case of Tom Lee, managing partner of the equity research firm Fundstrat Global Advisors, who declared in an interview with Julia La Roche (SIX:) Show that two major factors will propel the upward next year.
“The first is the reversal in monetary policy. Central banks are really going dovish,” Lee said, emphasizing that “there has never been a bear cycle in cryptocurrency when the Fed is dovish.” ”.
He also highlighted the likely approval of Bitcoin ETFs, which he said will “attract more customers”.
The investor pointed out that cryptocurrencies are “a $2 trillion asset class that you can’t really access through your 401(k) today ”, a problem that will be solved by the launch of spot Bitcoin ETFs, which could have a considerable impact, knowing that “American households have investable capital of approximately $170,000 billion.”
He estimated that if people invest just 1% of their 401(k) in bitcoin, the supply of BTC could be overwhelmed, which could drive up prices.
“I think bitcoin could have a very good year next year,” he concluded.
Finally, we will emphasize that in addition to the two factors highlighted by Tom Lee, the next Bitcoin halving, scheduled for April 2024, also constitutes a powerful bullish factor which has proven its value in the past.
Let us emphasize that halvings correspond to a halving of the reward for Bitcoin miners, and therefore of the issuance of new Bitcoin, which is equivalent to a reduction in the rate of growth of the supply.