- Tom Lee Bitcoin Prediction & | News Blog | Crypterium?
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We believe the conditions remain in place for a continued rally in bitcoin and crypto more broadly over the next six to 12 months. Institutional and corporate buying, regulatory de-risking and retail stimulus demand are factors that have led to an increase in positive momentum, which we believe can continue.
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However, where Lee sees bitcoin failing is through its alleged correlation with the stock market. He mentions that should the stock market experience a correction in , bitcoin is likely to fall in price. So, I think if we have a correction in stocks then bitcoin is going to fall. Throughout , Lee continued to predict that bitcoin would end the year on a high note despite several full-scale drops that led the asset to lose 70 percent of its value by November.
There is a chance that it does, there's a chance that it doesn't.
Now that "the baby booming generation and the older Gen Xers are entering the years when they are disposing of assets, their tastes and preferences are less relevant than the younger generation, Millennials, who are entering their prime asset earning years," he stated. It's going to be platforms that deal only on the internet. Lee provided background for this prediction during a Binance podcast in June Bitcoin is a market like no other.
Schiff told Lee that "My gold forecast came a lot closer than your Bitcoin forecast. After this next halving takes place, the rate at which new units of bitcoin enter the system will be reduced, affecting supply.
GET UP TO $132
The report also pointed to growing adoption. According to the chart provided by PlanB, BTC started moving toward a major price increase following the halving. PlanB explained this in a Medium post, noting that given BTC's current stock and rate of new supply, it would take 25 years of new units being created to reach the existing stock, compared to 22 for silver and 62 for gold. The likelihood that the relationship between stock-to-flow and market value is caused by chance is close to zero.
Bitcoin to $40k in the Next Few Months, Says Tom Lee
Bitcoin prices are "heading to 6-figures," said Max Keiser, host of the Keiser Report, said on Twitter. A few days later, he offered additional insight into the matter in a second tweet. However, Bitcoin started to "look interesting" as its price rose, he added.
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That's according to the digital asset trading firm QCP Capital, which was citing analysis conducted by hedge fund Bridgewater Associates. The decline in the price of Bitcoin is also predicted by analysts at Flipside Crypto. At the moment, the main driving force behind Bitcoin is large and institutional investors who buy bitcoins en masse in the hope of protecting their own finances from inflation, as well as increasing their savings.
Bitcoin bull Tom Lee wants Wall Street to know he didn’t cut his year-end forecast
In recent times, several large corporations announced their plans to buy Bitcoin at once. And after private investment funds, institutional investors in the United States have begun thinking about buying Bitcoin. In an interview with Bloomberg, the head of the investment firm Grayscale Investments, Michael Sonnenshine said US pension funds will be the next major buyers of Bitcoin. Several analysts believe that Bitcoin has not yet reached its peak price. They believe that BTC will receive a powerful boost after millennials come to the market and start investing billions of dollars in cryptocurrencies.
A similar opinion was voiced by Grayscale analysts. JPMorgan Thinks So. The survey showed that millennials are much more likely to buy, hold, and use Bitcoin, but most of them have not yet reached their peak of careers.