Stock Market, Fundstrat’s Tom Lee predicts Bitcoin has a shot at $100K

[Wakate]

The stock market could see a major upswing to end 2021 as a part of an “everything rally” sparked, at least partly, by falling cases of the delta variant, predict analysts a Fundstrat Global Advisors. Such a meltup in values could also see bitcoin BTCUSD reach $100,000, said Tom Lee, Fundstrat founder, in comments on CNBC Monday where he also discussed his “everything rally” research note.

“A hundred thousand into year-end is pretty reasonable,” Lee told CNBC.

“While the hysteria around the continued surge in delta variant infection continues to grow, the IHME (Institute for Health Metrics, forecasters used by global policy makers) forecasts USA COVID-19 infections to peak this week,” wrote Lee and company, in a research note published Monday.

“What is also interesting is the IHME is not forecasting a fall surge. That is, they are not expecting a renewed wave of cases in the fall. The fall is back-to-school season, plus the start of flu season. Yet, the IHME sees this wave petering out,” wrote the Fundstrat folks, adding that this emboldens their prediction for a broad rally of assets at the end of the year.

https://www.marketwatch.com/amp/story/bitcoin-has-a-shot-at-100-000-in-everything-rally-that-sweeps-up-stock-market-fundstrats-tom-lee-predicts-11628528245

[rahmatrf331]

The stock market could see a major upswing to end 2021 as a part of an “everything rally” sparked, at least partly, by falling cases of the delta variant, predict analysts a Fundstrat Global Advisors. Such a meltup in values could also see bitcoin BTCUSD reach $100,000, said Tom Lee, Fundstrat founder, in comments on CNBC Monday where he also discussed his “everything rally” research note.

“A hundred thousand into year-end is pretty reasonable,” Lee told CNBC.

“While the hysteria around the continued surge in delta variant infection continues to grow, the IHME (Institute for Health Metrics, forecasters used by global policy makers) forecasts USA COVID-19 infections to peak this week,” wrote Lee and company, in a research note published Monday.

“What is also interesting is the IHME is not forecasting a fall surge. That is, they are not expecting a renewed wave of cases in the fall. The fall is back-to-school season, plus the start of flu season. Yet, the IHME sees this wave petering out,” wrote the Fundstrat folks, adding that this emboldens their prediction for a broad rally of assets at the end of the year.

https://www.marketwatch.com/amp/story/bitcoin-has-a-shot-at-100-000-in-everything-rally-that-sweeps-up-stock-market-fundstrats-tom-lee-predicts-11628528245

looks like Tom Lee has broad views and strong references to his predictions. he predicts in 4 months or 4 quarts in 2021 bitcoin will cross $100,000 rationally that is very crazy. but in terms of bitcoin's current growth in a week it can grow 10% so in 4 months it can grow 80%. no wonder many institutional investors are vying to adopt bitcoin lately.

[Fundamentals Of]

Bitcoin having a shot at $100,000 was already predicted early this year. So I don't think its success or failure to actually reach it has something to do with the possible major upswing of the stock market in the late part of 2021 or the falling cases of the delta variant of COVID-19.

When Bitcoin reached $64,800 in April, it was almost enough sign it could actually breach 6-figure within 2021. It was still very early that any degree of correction that follows it would easily be absorbed within the year so that the price could still consolidate and rebound a lot stronger aiming $100,000 still within the year.

[Poker Player]

Bitcoin having a shot at $100,000 was already predicted early this year. So I don't think its success or failure to actually reach it has something to do with the possible major upswing of the stock market in the late part of 2021 or the falling cases of the delta variant of COVID-19.

When Bitcoin reached $64,800 in April, it was almost enough sign it could actually breach 6-figure within 2021. It was still very early that any degree of correction that follows it would easily be absorbed within the year so that the price could still consolidate and rebound a lot stronger aiming $100,000 still within the year.

I agree but I think that if the problem of the miners having to leave China didn't happen, we probably would have reached $100K by now. It's a matter of demand was greater than supply. With the China problem, the miners had to sell to get out of there and it also caused FUD which caused more people to sell, but once we are past that, hopefully we won't have a similar problem this year and we will get easily to $100K.

[Wexnident]

Well, he certainly isn't the first to have the same idea. A lot of people expected Bitcoin to reach $100k even way back, maybe close to when it went down to $30k or so in the mid-year? We all know how the market tends to rise in the ber months after all, and seeing as the last price was at $60k, and the current price not really dropping to below $20k, it pretty much says that the current state of the market is pretty healthy, unlike the last time where it was clearly a bubble. This opens up the possibility of the price steadily increasing over the months.

[davis196]

So this guy basically tries to predict a global market bull run(both stock and crypto) based on the upcoming delta COVID wave?This doesn't seem serious to me.
I really hope that Bitcoin will hit the 100K price sooner than we thought,but I'm not that optimistic.
I'm not very excited of the idea that the COVID pandemic will help for boosting the Bitcoin price.
We need serious adoption,which is driven by the advantages and features of Bitcoin and not some panic buying FOMO wave,which is caused by a COVID wave.When the COVID wave goes away,the bull trend will also go away and the price will drop for sure.

[Fundamentals Of]

Bitcoin having a shot at $100,000 was already predicted early this year. So I don't think its success or failure to actually reach it has something to do with the possible major upswing of the stock market in the late part of 2021 or the falling cases of the delta variant of COVID-19.

When Bitcoin reached $64,800 in April, it was almost enough sign it could actually breach 6-figure within 2021. It was still very early that any degree of correction that follows it would easily be absorbed within the year so that the price could still consolidate and rebound a lot stronger aiming $100,000 still within the year.

I agree but I think that if the problem of the miners having to leave China didn't happen, we probably would have reached $100K by now. It's a matter of demand was greater than supply. With the China problem, the miners had to sell to get out of there and it also caused FUD which caused more people to sell, but once we are past that, hopefully we won't have a similar problem this year and we will get easily to $100K.

It was possibly one of the larger reasons why Bitcoin wasn't able to recover quickly from earlier issues including the environmental contention raised by Elon Musk as well as Tesla's decision to stop accepting Bitcoin payments. So there were indeed certain negative issues against Bitcoin. And all these came out while Bitcoin has undergone correction from a recent rally. The issue regarding Bitcoin mining in China immediately followed. So there was a combination of factors which led to Bitcoin failing to reach $100,000 earlier.

[Lucius]

For all those who do not know about this character, I advise you to visit the following thread -> Speculating with Tom Lee

In short, he wasn't very famous for his speculations in the past, and now he hasn't said anything new or something that most people didn't already know - so the story about $100k by the end of this year is already old and worn out, and he talked about it last year (check the last post in the linked thread).

You have to keep in mind that people like him often go out in public to get free PR, and then mostly speculate by throwing up big numbers - don’t take this as financial advice.

[Yaunfitda]

Lol, so Tom Lee come out of the shadow again and predicted a $100k per pop? 

This guy is somewhat we call perma bull, I mean it's pretty obvious that he has some narrative behind as behind the Fundstrut. If I remember correctly, he did some online poll about FOMO when bitcoin was about to hit $10k last year. So I'm not surprised that he is coming out again with all this $100k prediction of his (and so is the others).

[el kaka22]

Obviously there will be people who will say crazy things about bitcoin, the craziest I have seen recently was 12.5 million dollars in less than 3 years, which is insane to think about. However let's be honest, 100k is not that weird, if we have another big bull run, then 2x is not that weird, we are just a tiny bit under 2x for 100k right now.

You do not have to be fundstrat's Tom Lee to know that 100k is the next shot, we were at 64k last time around and next time around we will fight the 100k barrier for sure. Obviously it is going to be a bit different because 100k will be a barrier that psychologically be difficult for people like how 10k was, we had hard time passing that but when we did then everything became a lot easier, I think 100k will be like that, hard time to pass over that, but afterwards it is going to be quite good and easy.

[Clavulanic]

On this various of commendable response from influencial person, I believed that it's a huge factor that Bitcoin will definitely reach the shot of $100k this year or early 2022. That's very optimistic idea to consider because there's no accurate predictions, and I am only basing the situation from previous years of cryptocurrency cycle. Predictions has a lot of basis, that why it's very important to keep on researching for further progress on each and every steps before deciding for an investment plans.

[Hamphser]

Lol, so Tom Lee come out of the shadow again and predicted a $100k per pop? 

This guy is somewhat we call perma bull, I mean it's pretty obvious that he has some narrative behind as behind the Fundstrut. If I remember correctly, he did some online poll about FOMO when bitcoin was about to hit $10k last year. So I'm not surprised that he is coming out again with all this $100k prediction of his (and so is the others).

When it comes to these so-called popular person speculation or something who had some reputation and popularity then it isnt something new  that could really be seen on  this market.Whenever the price had made out

some significant then these fellas would come out and telling bullish things but actually these guys had already bought on the dip and trying to hype the market on by saying those positive things.Is this something new?

No its not and if you've been here on this market for a while now then you wouldnt really get surprised with these kind of acts and events here on this market.

[jakdanyel]

I agree with Tom Lee here. Considering Bitcoin's quick increase, why wouldn't it be possible to see the price at $100k? Maybe it wiil happen nearly on the last day of the year but I feel like it will definitely happen. As many people are predicting this level, I don't think that people will be very surprised if it happens. Rather than being surprised, they will be really happy to see it.

[TravelMug]

I agree with Tom Lee here. Considering Bitcoin's quick increase, why wouldn't it be possible to see the price at $100k? Maybe it wiil happen nearly on the last day of the year but I feel like it will definitely happen. As many people are predicting this level, I don't think that people will be very surprised if it happens. Rather than being surprised, they will be really happy to see it.

No need to agree with him since others have pointed out, he has his purpose to create some kind of FOMO to this price. This is not the first time that we have heard from him some exorbitant claims.

But to be fair with him, the S2F prediction model has the same $100k or even higher at the end of this year or the first quarter of 2022.

All we have to do is hold and wait if this prediction will become true. But at least we should prepared as well to the eventually that the hype might died down and nowhere we are going to reach that price this 2021.

[hello_good_sir]

Tom Lee is a bitcoin permabull. I would take everything that they say with a huge grain of salt.

The reality of it is that bitcoin is unlikely to breach 6 figures during this bull run. The capital from new institutional investors have dried up somewhat and the timing is simply not there given that we are at the tail end of a halving cycle.

But for next halving at 2024? Absolutely. It's almost certain that by then there will be more institutional capital and serious interest in DeFi.

[Obito]

I agree with Tom Lee here. Considering Bitcoin's quick increase, why wouldn't it be possible to see the price at $100k? Maybe it wiil happen nearly on the last day of the year but I feel like it will definitely happen. As many people are predicting this level, I don't think that people will be very surprised if it happens. Rather than being surprised, they will be really happy to see it.

You will agree because it's likely to happen, his estimate is conservative and it's a pretty safe prediction plus a lot of other users in this board thinks that it will go up to a 100k at the end of the year or at the start of the new year so Tom Lee isn't special in any way with that prediction, they just make it much truer everyday.

[sunsilk]

Tom Lee has been a known bitcoin bull and investor. If you've been in the market since before the all-time high and the followed-up bear market of 2017 and 2018.

You'll get to see him giving predictions that were really positive. And on this one, he has never stopped giving good predictions but most of the time with his past predictions, they're not good with what the market showed.

And for this year, it is the community's sentiment that there's really a chance for bitcoin to $100k. Everyone is talking about that prediction from the forum.

[Lucius]

This guy is somewhat we call perma bull...

Tom Lee is a bitcoin permabull. I would take everything that they say with a huge grain of salt.

It's not as simple as you think, because he also had his moments of doubt and was one of those who even predicted that BTC would be banned in the US. Of course, he was just trying to look smart and be one of those who would predict the future - although it was amazing when he compared banning some types of cigarettes in the US with the possible banning of Bitcoin. He has proven bad at speculation, though he may be successful this time around, along with thousands of those who have said the same thing before him.


Source

[Wind_FURY]

Well, he certainly isn't the first to have the same idea. A lot of people expected Bitcoin to reach $100k even way back, maybe close to when it went down to $30k or so in the mid-year? We all know how the market tends to rise in the ber months after all, and seeing as the last price was at $60k, and the current price not really dropping to below $20k, it pretty much says that the current state of the market is pretty healthy, unlike the last time where it was clearly a bubble. This opens up the possibility of the price steadily increasing over the months.

There were also few people in the forum who expected Bitcoin to be in a 6-digit price when it was trading below $10,000 during 2019. Credit to JuanJayGee for being one of those people. In fact, he was the ONLY person I saw who truly said it with conviction during those bearish times.

[Kittygalore]

@Obito is right, it's a conservative prediction because it's only 4pk USD away from the ATH and there's still 4 months left in this year so the possibility that it will go to a 100k USD is still an open possibility and an easier one at that. I think that it will probably be moe than just a 100k USD this year though, I'll say it again, there's still a lot of possibility left in 4 months.