The Chief Investment Officer of a financial research boutique, Tom Lee, recently shared his thoughts on the potential supply shock that Bitcoin (BTC) could face once it surpasses the $100,000 price level. In an interview with CNBC, Lee emphasized that the scarcity of Bitcoin is becoming a concern for crypto exchanges as the available supply for sale continues to dwindle.
According to Lee, the shortage of available BTC for sale could become more pronounced once Bitcoin breaks the psychological barrier of $100,000. He believes that there are individuals and even exchanges themselves who may not want Bitcoin to exceed this price level due to the limited supply of Bitcoin available over the counter. Lee anticipates that a move above $100,000 could trigger a significant chase for Bitcoin, leading to a supply shortage.
Despite these challenges, Lee remains confident in Bitcoin’s potential to reach higher price levels by the end of the year. He predicts that Bitcoin could surpass $100,000 and continue to climb much higher before the year ends. Lee’s optimism is further supported by his recent interview with SkyBridge Capital founder Anthony Scaramucci, where he projected that Bitcoin could potentially see gains of up to 150% from its current levels within the next 12 months.
As of the time of writing, Bitcoin is trading at $95,844, inching closer to the $100,000 mark. Lee’s bullish outlook on Bitcoin’s price trajectory is based on his analysis of the current market dynamics and price cycle trends. He suggests that Bitcoin could potentially reach $250,000 within the next year, highlighting the strong growth potential of the leading cryptocurrency.
In conclusion, Tom Lee’s insights shed light on the potential challenges and opportunities that Bitcoin may face as it approaches the $100,000 price level. Despite the looming supply shortage, Lee remains optimistic about Bitcoin’s future price trajectory and sees significant upside potential for the cryptocurrency in the coming months. Investors and traders will be closely watching Bitcoin’s price movements to see if it can sustain its upward momentum and break new price records in the near future.