Bitcoin Supply Shortage Could Trigger Big BTC Chase, Says Fundstrat’s Tom Lee
The post Bitcoin Supply Shortage Could Trigger Big BTC Chase, Says Fundstrat’s Tom Lee appeared on BitcoinEthereumNews.com.
The chief investment officer of a financial research boutique believes that Bitcoin (BTC) could face a supply shock once it clears the $100,000 price level. In a new CNBC interview, Fundstrat’s Tom Lee says Bitcoin’s scarcity is starting to be a problem for crypto exchanges. Lee says the dwindling supply of available BTC for sale will likely be felt once Bitcoin shatters the psychological price point of $100,000. “I think some of this could be – there’s a lot of folks who don’t want Bitcoin over $100,000 and some of it may be the exchanges themselves [that] are concerned, because there is a pretty low supply of Bitcoin available over the counter. So you have a supply shortage, and if Bitcoin makes a move above $100,000, I think there would be a big chase. So I’m still confident Bitcoin’s going to close much higher before year-end… Well above $100,000 before year-end. It’s just a matter of time.” Recently, Lee hopped on an interview with SkyBridge Capital founder Anthony Scaramucci to give his 12-month outlook for BTC. According to the Fundstrat executive, Bitcoin could witness up to 150% gains from current levels in just one year. “Over the next twelve months, I think something over $250,000 is possible, but maybe highly probable based on just following this price cycle.” At time of writing, Bitcoin is trading for $95,844. Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X, Facebook and Telegram Surf The Daily Hodl Mix   Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and…
Filed under: News - @ December 4, 2024 10:25 am