The chief funding officer of a monetary analysis boutique believes that Bitcoin (BTC) might face a provide shock as soon as it clears the $100,000 worth degree.
In a brand new CNBC interview, Fundstrat’s Tom Lee says Bitcoin’s shortage is beginning to be an issue for crypto exchanges.
Lee says the dwindling provide of accessible BTC on the market will doubtless be felt as soon as Bitcoin shatters the psychological worth level of $100,000.
“I believe a few of this could possibly be – there’s numerous of us who don’t need Bitcoin over $100,000 and a few of it could be the exchanges themselves [that] are involved, as a result of there’s a fairly low provide of Bitcoin obtainable over-the-counter.
So you’ve got a provide scarcity, and if Bitcoin makes a transfer above $100,000, I believe there can be an enormous chase.
So I’m nonetheless assured Bitcoin’s going to shut a lot larger earlier than year-end… Properly above $100,000 earlier than year-end. It’s only a matter of time.”
Not too long ago, Lee hopped on an interview with SkyBridge Capital founder Anthony Scaramucci to provide his 12-month outlook for BTC. In response to the Fundstrat govt, Bitcoin might witness as much as 150% good points from present ranges in only one 12 months.
“Over the subsequent twelve months, I believe one thing over $250,000 is feasible, however perhaps extremely possible based mostly on simply following this worth cycle.”
At time of writing, Bitcoin is buying and selling for $95,844.
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