Bitcoin (BTC) Could Face Supply Shock Once It Clears $100,000, Says Fundstrat’s Tom Lee
The chief investment officer of Fundstrat, Tom Lee, recently shared his insights on the potential supply shock that Bitcoin (BTC) could face once it surpasses the $100,000 price level. In a recent interview with CNBC, Lee highlighted the growing scarcity of Bitcoin and how it could pose a challenge for crypto exchanges.
Lee pointed out that the decreasing supply of available BTC for sale could become more pronounced once Bitcoin crosses the psychological barrier of $100,000. He suggested that there might be reluctance from some market participants and exchanges themselves, given the limited supply of Bitcoin available over the counter.
“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,” Lee explained. “So you have a supply shortage, and if Bitcoin makes a move above $100,000, I think there would be a big chase.”
Despite the potential challenges, Lee remains optimistic about Bitcoin’s price trajectory, predicting that it will continue to climb higher before the end of the year. He confidently stated, “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.”
Lee recently shared his 12-month outlook for BTC during an interview with SkyBridge Capital founder Anthony Scaramucci. He suggested that Bitcoin could experience gains of up to 150% from its current levels within a 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,” Lee forecasted.
As of the time of writing, Bitcoin is trading at $95,844, inching closer to the anticipated $100,000 milestone. With the market dynamics and scarcity of Bitcoin in mind, the future price movements of the leading cryptocurrency remain a topic of interest for investors and analysts alike.
To stay updated on the latest developments in the cryptocurrency space and receive timely alerts, consider subscribing to our email notifications. Follow us on social media platforms such as Twitter, Facebook, and Telegram for real-time updates and analysis. Don’t miss out on the latest news and insights in the world of digital assets.
As the market continues to evolve and Bitcoin’s price trajectory remains dynamic, keeping a close eye on price action and market trends can provide valuable insights for both seasoned traders and newcomers to the crypto space. Stay informed and stay ahead of the curve with The Daily Hodl.
Generated Image: Midjourney
[End of Article]