Fundstrat analyst Tom Lee has predicted a clearing price of $150,000 to $180,000 for Bitcoin if the spot Bitcoin ETF is approved. Lee stated that the demand for Bitcoin will exceed the supply if the ETF is approved in the United States. However, he noted that if the ETF applications are rejected, although there will still be demand and price gains due to the halving, the price won’t reach six figures.
It should be noted that Tom Lee has been known for making bullish predictions about Bitcoin in the past. In 2020, he predicted that Bitcoin would reach $120,000 the following year, but it did not reach that level. Similarly, in 2021, he predicted a price of $100,000 by the end of the year, but Bitcoin peaked at $69,000 before entering a bear market.
Despite Lee’s optimistic forecast, the price of Bitcoin has recently slumped to a two-month low of $28,430. Analysts are expressing bearish sentiment and suggesting that a “savage breakdown” could be imminent. However, the dip in price is minor when considering the multi-month view.
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