According to Cointelegraph, Tom Lee, co-founder of Fundstrat Global Advisors, predicts that Bitcoin and Ethereum will see "huge" increases in the next three months. He stated on CNBC's "Street Signs Asia" that the crypto market will experience strong performance by the end of the year, with Bitcoin's price potentially reaching $100,000 and Ethereum possibly breaking $10,000.
Lee pointed out that recent market fluctuations, including Bitcoin dropping below $60,000 and Ethereum falling below $2,400, are part of the "fear phase" and not bearish signals. He believes that increased global liquidity and interest rate cuts by the Federal Reserve will drive up risk assets, including cryptocurrencies. Additionally, policy clarity after the U.S. elections may further boost market sentiment.
He emphasized that the long-term trend for Bitcoin remains bullish, citing its fixed supply and increased institutional adoption. Ethereum benefits from its smart contract functionality and the growth of decentralized finance (DeFi). Lee also mentioned that market expectations for a Trump victory could elevate cryptocurrency prices, as his policies are viewed as crypto-friendly.
However, Lee warned that there may still be volatility in the short term and advised investors to pay attention to macroeconomic changes and regulatory dynamics. Nevertheless, he remains optimistic about the long-term prospects of the crypto market, believing that 2025 will be a "breakthrough" year.
