As a seasoned researcher with a keen interest in the dynamic world of cryptocurrencies and blockchain technology, I find myself intrigued by the recent bullish predictions made by Tom Lee and Michael Saylor regarding Bitcoin. With my background in finance and technology, it’s fascinating to observe how the narrative around digital assets is evolving, particularly with regards to their potential role as a Treasury Reserve asset.
Michael Saylor, a key figure at MicroStrategy and an outspoken Bitcoin advocate, recently tweeted a snippet from Tom Lee’s interview on CNBC’s Squawk Box program.
According to the head of research at Fundstrat, their co-founder has made an optimistic forecast for Bitcoin’s price, estimating it could surpass the six-digit mark by the end of this year.
Tom Lee’s bullish Bitcoin outlook and Saylor’s response
In simpler terms, Tom Lee expressed on CNBC that Bitcoin could become a type of national savings for the United States. If this happens and the value increases, according to Tom Lee’s belief, it could aid the U.S. in decreasing its budget shortfall.
Despite a recent decrease in regulatory restrictions for Bitcoin, Fundstrat’s analyst is convinced that it could still hit $100,000 by the year’s end and potentially rise even further in 2026. The forecast suggests another increase in 2027 as well.
Michael responded to Lee’s message with his opinion stating, “Nations will eventually hold Bitcoin as part of their national reserves.
Nations will adopt #Bitcoin as a Treasury Reserve Asset.
— Michael Saylor⚡️ (@saylor) November 8, 2024
Bitcoin price mild rebound
Following its record high of $77,252, the Bitcoin price slightly recovered and is now being traded at around $76,500. According to a recent Santiment tweet, this decrease in value can be attributed to a swift shift in the social discourse surrounding the asset. Additionally, numerous traders have started cashing out their gains after observing BTC surpass a fresh historic price milestone. Post-ATH, Bitcoin experienced a 1% rebound.
As an analyst, I’ve observed a significant surge in Bitcoin’s value reaching $77K, which has undeniably shifted the public discourse. When the masses become excessively optimistic about Bitcoin exceeding $80K, history shows us that prices tend to pull back. Leverage this fear of missing out (FOMO) and fear, uncertainty, and doubt (FUD) following an all-time high by checking out this updated chart below: 👇
— Santiment (@santimentfeed) November 8, 2024
Since Wednesday up until the new record price set on Friday, Bitcoin experienced an impressive 11.35% increase following the Federal Reserve’s decision to lower interest rates by 0.25%.
Samson Mow, who is both a Bitcoin maximalist and the head of JAN3, expressed his conviction that Bitcoin’s value could reach beyond $80,000. In a recent tweet, he stated: “It’s still possible to acquire Bitcoin for less than 80,000 dollars per coin.
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2024-11-09 15:40