As Bitcoin hovers around short-term lows beneath $80,000, Tom Lee, co-founder and managing partner of Fundstrat, asserts that the cryptocurrency is poised for a robust second half of the year.
In a discussion with CNBC, Lee indicated that despite the recent price downturn, the current climate presents a favorable entry point for long-term investors. When asked whether now is an advantageous time to accumulate Bitcoin (BTC), he responded, “I think so.”
“Part of this was that Bitcoin, seasonally, just wasn’t going to be appealing until we got past March. And now, we’re finally leaving March behind.”
Lee highlighted macroeconomic and political factors that suggest “the calendar is looking better,” which could support a Bitcoin spike as the year progresses. Notably, the Federal Reserve and other central banks are easing their policies, and quantitative tightening is winding down. Along with “positive momentum from Washington,” Lee believes Bitcoin “can perform well until the end of the year.”
$150,000 or higher is ‘feasible’
Lee reaffirmed his consistently optimistic outlook on Bitcoin, keeping a year-end target of at least $150,000 in sight.
“I understand it may not feel that way, but once we move past this [Trump’s] tariff agenda, the markets can anticipate positive developments,” he elaborated.
Regarding the U.S. dollar and the role of cryptocurrencies in global markets, Lee echoed recent statements by BlackRock’s CEO, Larry Fink, who cautioned that U.S. protectionist policies might weaken the dollar’s position.
Nevertheless, Lee contended that effective regulation of stablecoins could actually reinforce the dollar’s supremacy.
“In the realm of cryptocurrency, when it comes to stablecoins, the dollar is significantly more dominant than it is in conventional markets,” he noted. “I think that stablecoin legislation could indeed help protect the dollar.”
As April commences, Lee’s message to investors is unmistakable: the worst may be behind us, and the trajectory ahead could lead to new all-time highs.