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NEW
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#BTC spot ETF approved, bullrun next?
Fundstrat Says Bitcoin Is Headed for $150K — Predicts BTC Could Hit $500K in 5 Years
Bitcoin Expected to Hit $150K Short-Term, $500K Possible Long-Term
The head of research at Fundstrat, an independent financial research boutique, Tom Lee, shared his view on the bitcoin price outlook in an interview with CNBC on Wednesday.
Replying to a question about what the price of bitcoin will be in one year and five years, he said:
In August last year, Sean Farrell, who leads digital asset strategy at Fundstrat, predicted a significant price increase for bitcoin following the launch of a spot ETF. He reasoned that the daily demand for bitcoin “will reach $125 million, while daily supply is only $25 million,” emphasizing: “The implicit equilibrium price would need to increase so that daily supply matches daily demand. Equilibrium analysis suggests a clearing price of $140,000 to $180,000 before the halving in April 2024.”
On Wednesday, Rich Dad Poor Dad author Robert Kiyosaki joined the chorus of bullish BTC predictions, echoing Lee’s forecast of a $150,000 bitcoin price tag. Meanwhile, Standard Chartered projected a possible $200,000 BTC price by 2025
fueled by the recent approval of spot bitcoin ETFs. Meanwhile, Ark Invest CEO Cathie Wood expects spot bitcoin ETFs to attract significant institutional investment, further propelling BTC “much higher.”#ContentStar