HomeNewsTom Lee's Crystal Ball: Decoding Bitcoin's Journey to $150k-$180k

Tom Lee’s Crystal Ball: Decoding Bitcoin’s Journey to $150k-$180k

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  • Tom Lee predicts Bitcoin could touch between $150,000 to $180,000 with the approval of a spot Bitcoin ETF.
  • A retrospective look at Lee’s past Bitcoin forecasts reveals a mix of hits and misses.

A Glimpse into Past Predictions

Tom Lee, a prominent figure from Fundstrat Global Advisors, is no stranger to bold predictions about Bitcoin’s trajectory. Reflecting on his recent CNBC interview, Lee suggests that an approval of a spot Bitcoin ETF might catapult Bitcoin’s valuation five-fold. He rationalizes this by emphasizing the surging demand, suggesting it might overshadow Bitcoin’s daily supply, potentially driving its price upwards to the range of $150,000-$180,000.

Prediction 1: The Halving Impact

Prior to Bitcoin’s halving in May 2020, where the miner block reward was halved to 6.25 BTC, Lee had alluded that the market had not factored in this event. He emphasized the potential for positive shifts enhancing Bitcoin’s economic and use-case model. His foresight for 2020 was a staggering gain of over 100% for Bitcoin, a prediction that materialized with Bitcoin’s remarkable 302% ROI for that year, surpassing its 94% ROI in 2019.

Prediction 2: $27k Summer Surge

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In February 2020, Lee envisioned Bitcoin touching an all-time high of $27,000 during the summer. His optimism stemmed from Bitcoin’s recovery above its 200-day Moving Average (MA) – a crucial technical indicator. Typically, when Bitcoin ascends above this MA, a significant bullish phase ensues. However, Bitcoin experienced a downturn post this prediction, and only achieved the $27,000 mark in late December 2020, rendering this forecast slightly off in its timing.

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Prediction 3: Bitcoin vs. Dow Jones

In another CNBC interaction, Lee boldly proclaimed his preference for Bitcoin over the Dow, forecasting Bitcoin to reach $40,000 before the Dow touched 40,000. As it panned out, while the Dow hasn’t breached the 40,000 mark, Bitcoin effortlessly crossed $40,000 in January 2021.

Winds of Change and Future Speculations

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As Bitcoin continues its unpredictable voyage, other market giants like Standard Chartered envision it reaching $120,000 by 2024’s end. However, it’s crucial to note the external influences, such as the SEC’s hesitancy on Bitcoin ETFs and potential market corrections, which could sway Bitcoin’s trajectory.


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