Tom Lee is confident that Bitcoin is quite capable of growing to these levels, since its supply is limited to 21 million coins. Growth will also be supported by increased demand for Bitcoin thanks to the long-awaited approval of spot Bitcoin ETFs in the United States.
“I think that in the next 12 months the Bitcoin rate will stay above $100,000. Maybe somewhere above $150,000. In the long term, we can count on $500,000,” suggested Tom Lee.
Previously, Sean Farrell, head of digital asset development at Fundstrat, also predicted significant growth for Bitcoin if cryptocurrency ETFs were approved in the United States. According to him, the daily demand for Bitcoin will reach $125 million, while the daily supply will be only $25 million. The equilibrium price will have to increase in order for the daily supply to match the daily demand. Therefore, the settlement price should be between $140,000 and $180,000 before the Bitcoin halving occurs in April 2024, Farrell emphasized.
Bestselling author of Rich Dad Poor Dad Robert Kiyosaki has joined the bullish forecasts for Bitcoin. The entrepreneur also expects Bitcoin to trade at $150,000 per coin.
Source: Bits
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