Bitcoin Hits $112,000— But Tom Lee Says $200,000 Might Still Come This Year
Bitcoin (CRYPTO: BTC) could nearly double from current levels to $200,000 before year-end, according to Tom Lee, head of research at Fundstrat Global Advisors and Chief Investment Officer of Fundstrat Capital.
What Happened: Speaking on CNBC, Lee emphasized the strong link between monetary policy shifts and cryptocurrency performance.
At the time of publishing, Bitcoin was trading near $112,600 levels.
“Bitcoin and cryptocurrencies like Ethereum (CRYPTO: ETH) are super sensitive to monetary policy. So I think that September 17th is an important catalyst. Crypto typically does really well in the fourth quarter. So I think Bitcoin can easily get to 200,000 before year end,” he said.
Lee connected his bullish forecast to the Federal Reserve’s next rate decision.
He noted that Bitcoin has stalled this year because the Fed has been on pause for nine months, calling this pause …
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