Favorable Conditions Align for Bitcoin’s Rise
Tom Lee, founder and head of research at Fundstrat Global Advisors, is confident that Bitcoin (BTC) could reach $150,000 within the next 12-18 months. He believes several factors are contributing to Bitcoin’s potential surge.
Increased Demand and Reduced Supply
Lee highlights the growing demand for Bitcoin through spot exchange-traded funds (ETFs) and the upcoming halving event, which will reduce the supply of new Bitcoins.
Dovish Federal Reserve and Regulatory Headwinds
The Federal Reserve’s dovish stance, indicating easier monetary policy, and the regulatory scrutiny that Bitcoin has already faced are also seen as positive factors.
Supply-Demand Imbalance
Lee notes a supply-demand imbalance, with strong spot demand and limited new supply being created through block rewards. This imbalance is driving up the price of Bitcoin.
Bitcoin’s Current Value
At the time of writing, Bitcoin is trading at $68,350, up nearly 2% in the last 24 hours.
