Bitcoin can top $150,000 in the next 12-18 months, says Fundstrat's Tom Lee
CNBC Television・2 minutes read
Tom Thlee discusses recent market trends, noting a broadening in sectors beyond technology, with potential for a 20% market gain in 2024. Thlee predicts Bitcoin's value could exceed $150,000 due to market conditions and regulatory changes, emphasizing its correlation with the stock market as a risk-on asset with strong growth potential.
Insights
- Despite a slight decline in technology stocks, the market is broadening as other sectors gain momentum, signaling a healthy shift from technology dominance according to Tom Thlee.
- Tom Thlee predicts a potential 20% market gain in 2024, with significant small-cap stock performance increases, potentially up to 50%, while also highlighting factors that could derail this growth, such as inflation resurgence or overly restrictive monetary policies.
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Recent questions
How has the stock market trend been recently?
The stock market has shown a slight decline in technology stocks despite the NASDAQ hitting new highs. Other sectors are gaining momentum, indicating a healthy shift from technology dominance.
What is the predicted market gain for 2024?
Tom Thlee predicts a potential 20% market gain in 2024, with a significant increase in small-cap stock performance, possibly up to 50%.
What factors could hinder the 20% equity move?
Factors that could derail the 20% equity move include a resurgence of inflation leading to hawkish Fed actions or overly restrictive monetary policies causing a recession.
How does Tom Thlee view interest rate cuts?
Tom Thlee suggests that more interest rate cuts would be beneficial for market stability, as rising rates have not negatively impacted stocks so far.
What is the forecast for Bitcoin's value in the near future?
Tom Thlee forecasts Bitcoin's value to potentially exceed $150,000 in the next 12 to 18 months due to favorable market conditions and regulatory improvements. Bitcoin's correlation with the stock market as a risk-on asset is highlighted, with strong demand and limited supply contributing to its potential for further growth.
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