Expert Believes One Catalyst Could Trigger Bitcoin To Explode By More Than 450%
Portfolio Pulse from Bibhu Pattnaik
Tom Lee, managing partner at Fundstrat Global Advisors, believes that the approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) could trigger Bitcoin's price to explode by more than 450%. He estimates the clearing price of Bitcoin could reach over $150,000, potentially even $180,000. At the time of the interview, Bitcoin was trading at $25,955.20.
August 19, 2023 | 2:34 pm
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Bitcoin's price could potentially increase by over 450% if a spot Bitcoin ETF is approved by the SEC, according to Tom Lee of Fundstrat Global Advisors.
The approval of a spot Bitcoin ETF by the SEC could significantly increase demand for Bitcoin, leading to a substantial increase in its price. However, this is contingent on the ETF's approval, which is uncertain.
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