Tom Lee: 'Positive Catalyst is All That's Needed for BTC to Rally Further'

IconCrypto News Terminal22 Apr, 2024

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Tom Lee: 'Positive Catalyst is All That's Needed for BTC to Rally Further'

Fundstrat Global Advisors founder Tom Lee believes that Bitcoin (BTC) is poised for further gains if a positive catalyst emerges. In a recent interview with CNBC, Lee explained that if inflation comes in better than expected, "we could have a melt-up rally." "A lot of people have been saying that this is the top," Lee added. "I think this recent pullback is just a healthy correction." Lee's comments come as BTC has been consolidating in recent weeks, following a sharp rally earlier this year. The cryptocurrency is currently trading at around $24,000, up from around $16,000 in January. Despite the recent pullback, Lee remains bullish on BTC's long-term prospects. Last month, he predicted that the price of BTC would break $150,000 within the next 12-18 months. "I think we're in the early innings of a new bull market for Bitcoin," Lee said. "There are more opportunities to come." **Previously on April 24, 2023: Tom Lee predicted that the price of BTC would break $150,000 within the next 12-18 months.**

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