Bitcoin $150k This Year? Fake SEC Post Is Reminder Bitcoin Can Be Trusted In 'Trustless World,' Tom Lee Says
Portfolio Pulse from Adam Eckert
The SEC's social media account was compromised, leading to a fake post about the approval of a spot Bitcoin ETF, which was later debunked by SEC chair Gary Gensler. Fundstrat's Tom Lee sees this as a reminder of Bitcoin's trustworthiness in a 'trustless world'. Despite the incident, Lee is optimistic about Bitcoin's future, predicting it could reach $150,000 within a year and $500,000 in five years. Bitcoin's price saw a 3% drop to $45,445 following the fake post.
January 10, 2024 | 7:25 pm
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Bitcoin's price dropped by 3% to $45,445 following a fake SEC post about a spot Bitcoin ETF approval. Tom Lee remains bullish on Bitcoin, predicting significant price increases in the next 1 to 5 years.
The fake SEC post led to a short-term negative impact on Bitcoin's price, causing a 3% drop. However, Tom Lee's optimistic long-term predictions could counteract the short-term dip if investors align with his confidence in Bitcoin's future.
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