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Upward trend: Tom Lee: Bitcoin is on the way to the 100,000 dollar mark | news

Tom Lee sees a broad rally in various market segments
Another ebb of the corona pandemic could spur stock markets and Bitcoin
Lee sees $ 100,000 as a realistic price target for BTC by the end of the year

The “everything rally” could also boost Bitcoin

The digital currency Bitcoin has been on the up again for a few weeks. After the big fall in the price in spring, Bitcoin is again in an upward trend. Bitcoin cop Tom Lee now assumes that Bitcoin could soar to $ 100,000 by the end of the year. The economic boom caused by the subsiding of the corona pandemic and the bullish sentiment on the stock market are a good sign, Lee told CNBC. The expert assumes that an early decline in the number of corona infections will have a positive effect on the entire financial sector. Many new record highs have recently been achieved on the stock markets. Lee believes that this euphoria and a kind of “relief rally” will have a positive effect on Bitcoin, Etherum and Co. in addition to the stock markets. Lee speaks of an “everything rally” that could drive various market segments up in the second half of the year.

An end to the corona pandemic?

The fears about a sustained increase in corona infections and a further spread of the delta variant are still in the focus of investors, according to Lee. However, the Institute for Health Metrics (IHME), contact point and information provider for many political decision-makers, is of the opinion that the COVID-19 infections in the USA have slowly reached their peak, according to the experts from Fundstrat Global Advisors in a published research Paper. The IHME does not assume that there will be another increase and a new wave in the fall. Much more can be expected that the corona pandemic will abate. – Trade Bitcoin with Plus 500 – that’s how it works. 72% of retail investor accounts lose money when trading CFDs with this provider. You should carefully consider whether you can afford to take the high risk of losing your money. – This scenario would drive equity markets higher and could lead to a broad rally of various assets. Bitcoin would also benefit greatly from this.

There are other points that speak in favor of Bitcoin

Since last week, Bitcoin has also generated a buy signal from a chart point of view, as it has conquered the 200-day line. Now is the time to buy, according to Tom Lee’s team in one of their current studies. It is also noteworthy that the Bitcoin price jumped last despite the suboptimal circumstances. Bitcoin, for example, continues to receive strong headwinds from China. In addition, there are signs of regulatory measures in the US and Joe Biden’s new infrastructure program could result in taxation of digital assets. But despite these adversities, Bitcoin is in rally mode. These factors further reinforce Lee in his forecast for Bitcoin. However, it remains to be seen whether Tom Lee is right and Bitcoin is about to start a new mega rally. editorial team

This text is for informational purposes only and does not constitute an investment recommendation. GmbH excludes any right of recourse.

Image Sources: Jaruwan Jaiyangyuen /, REDPIXEL.PL /

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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