• Bitcoin Could Achieve $100,000 by the End of 2021: Tom Lee of Fundstrat

  • According to Thomas Lee, Managing Partner at Fundstrat Global Advisors, bitcoin and the market as a whole will skyrocket once the delta variant of COVID-19 reaches its peak. He anticipates that the primary cryptocurrency will trade at around $100,000 by the end of this year.

    The Decline of COVID-19 Would Lead to the Rally of BTC

    In a recent interview, American investor Tom Lee predicted that when coronavirus infections begin to decline, not only bitcoin, but the entire financial industry, would recover and reach new heights. The founder of Fundstrat went even further, predicting that the primary digital asset would reach $100,000 by the end of 2021:

    “A hundred thousand dollars into the end of the year is pretty reasonable.”

    COVID-19 cases in the United States will peak this week, according to the Institute for Health Metrics and Evaluation (IHME), and will then begin to decline. Furthermore, the health research center does not anticipate a resurgence of cases in September or October:

    “While the hysteria surrounding the ongoing surge in delta variant infection grows, the IHME (Institute for Health Metrics, forecasters used by global policymakers) predicts that COVID-19 infections in the United States will peak this week. It is also worth noting that the IHME does not anticipate a fall surge.”

    With that in mind, Lee predicted that in the coming months, the public’s fear of coronavirus infections would subside, resulting in a new economic boom. He also claimed that the industry would be in a “risk-on” environment by the end of the year, which could boost the value of a variety of market assets, including bitcoin.

    Previous Forecasts by Tom Lee

    Fundstrat’s Managing Partner appears to have a clear vision for bitcoin’s future price, predicting that the asset would trade at $120,000 by the end of 2021 last year. He predicted that the current year would be very similar to 2017:

    “I believe 2021 will be similar to 2017, which means bitcoin will perform even better in 2021 than it did in 2020. So something higher than 300 percent.”

    At the time of writing, the cryptocurrency was worth around $29,000, implying that a further 300 percent increase would result in the aforementioned $120,000.

    However, according to Lee, bitcoin and the crypto market must overcome their volatility and stop fluctuating sharply in response to comments from prominent individuals such as Elon Musk.

    “Just a personal observation, but the fact that crypto and bitcoin prices respond to actions taken by a company or individual shows that this market still needs to evolve,” he said.

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