Fundstrat’s Tom Lee Forecasts Stock Market Rally in June, Anticipates Bitcoin to Reach $150,000 Driven by Institutional Adoption
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Fundstrat’s Tom Lee Forecasts Stock Market Rally in June, Anticipates Bitcoin to Reach $150,000 Driven by Institutional Adoption

The Managing Partner and the Head of Research at Fundstrat Global Advisors have expressed optimism about the stock market and Bitcoin’s future performance. Tom Lee, in an interview with CNBC, stated that he expects the S&P500 to reach $5,500 by the end of the month, which would be a 4.1% increase from current levels.

Lee believes that the current economic conditions, with softer-than-expected inflation and a stable job market, are favorable for equities. He also mentioned that the April sell-off in the stock market has not been fully recovered, leading to expectations of a rebound in May and possibly even extending into June. Lee highlighted that there is still a significant amount of cash on the sidelines, approximately $6 trillion, and margin debt is still below levels seen in October 2021, indicating that investors have not fully committed to the market.

Regarding Bitcoin, Lee expressed his confidence in its long-term prospects. He noted that recent events, such as the Bitcoin ETF and institutional adoption, have created tailwinds for the cryptocurrency. Lee believes that the increasing ownership and infrastructure being built around Bitcoin will drive its price to $150,000. He also mentioned that Bitcoin’s price movement is primarily influenced by the number of wallets and their activity, both of which are on the rise.

At the time of writing, BTC is valued at $70,525, representing a 2% increase over the past 24 hours.

Please note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin or other cryptocurrencies. The Daily Hodl does not endorse or recommend the buying or selling of any digital assets.

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