Tom Lee of Fundstrat thinks smaller cryptocurrencies (altcoins) are about to have their moment in the sun. He believes they’ll start outperforming the big players like Bitcoin.
Ethereum and Solana Get the Nod
In a recent podcast interview, Lee revealed that Fundstrat is already advising clients to diversify beyond Bitcoin by investing in Ethereum (ETH) and Solana (SOL). He sees these as “core cryptos” with strong potential.
Altcoin Alpha on the Horizon
Lee expects a significant shift next year, predicting a broadening of the crypto market. He believes that altcoin experts will be particularly well-positioned to profit, as many altcoins could see substantial gains. He linked this to Bitcoin’s strength, suggesting a stronger Bitcoin ecosystem boosts the value of utility tokens.
Bitcoin’s Price Prediction: A Massive Surge?
Lee also made a bold prediction for Bitcoin’s price, suggesting a potential increase of over 150% from its current level. He envisions Bitcoin reaching over $250,000 within the next year, citing the current price cycle as a key factor.
US Government Support Could Boost Bitcoin Even Further
Lee added another factor to his bullish Bitcoin forecast: the potential for US government support. He believes the current administration’s pro-Bitcoin stance, and the possibility of Bitcoin becoming a strategic reserve asset, could significantly drive up its price. He pointed to MicroStrategy’s success in using Bitcoin as a balance sheet asset as a positive example. At the time of writing, Bitcoin was trading around $97,521.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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