Lee stated that cryptocurrencies are extremely sensitive, especially to the FED’s monetary policies, and that the interest rate decision to be announced on September 17 and possible interest rate cuts will be a critical catalyst for the crypto market.
“Crypto assets like Bitcoin and Ethereum are directly affected by interest rate cuts. Historically, crypto markets perform strongly in the fourth quarter of the year. Therefore, it’s possible that Bitcoin could reach $200,000 before the end of the year,” he said.
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Lee also noted that once the Fed begins interest rate cuts, not only cryptocurrencies but also small-cap stocks will experience a strong recovery. He added that Ethereum, in particular, could stand out due to its correlation with small-cap stocks.
Bitcoin is currently trading at $111,000. If Lee’s prediction comes true, the price of BTC will nearly double by the end of the year.
*This is not investment advice.
Continue Reading: Bullish Analyst Tom Lee Shares His Year-End Bitcoin Price Prediction – “It Could Easily Reach This Level”
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