Tom Lee, a seasoned hedge fund veteran, remains optimistic about both the stock market and Bitcoin (BTC) following the highly anticipated halving on April 20. In an interview with CNBC, Lee stated that the halving, which reduced Bitcoin miners’ rewards by half, combined with the success of the Runes protocol, which has generated substantial fees for the flagship blockchain, will contribute to upward pressure on the price of Bitcoin. As a co-founder of Fundstrat, Lee has been consistently bullish on Bitcoin for many years and predicts that Bitcoin could reach a cycle top of $150,000, possibly before the end of the year.

Lee believes that the halving demonstrates the soundness of Bitcoin as a form of money, as it is pre-programmed to cut the block reward every 210,000 blocks. This reduction in supply, coupled with strong demand and increased network usage due to the Runes protocol, creates upward pressure on the price of Bitcoin. Lee confidently states that Bitcoin will reach new all-time highs this year, with a possible price target of $150,000. Looking further into the future, Lee sees no issue with the targets set by others, such as $500,000 or even higher.

In addition to his bullish stance on Bitcoin, Lee is also optimistic about the stock market, which has been experiencing a correction from recent highs. He argues that the market is reaching oversold levels, supported by the DeMark Sequential indicator, which identifies trend reversals based on previous closing prices. Lee mentions that Mark Newton, the head of technical strategies at Fundstrat, has determined April 20th as the cycle turn date. He believes that based on indicators like the DeMark count, the market is only a couple of days away from a potential bottom or turning point.

Lee acknowledges that while there has been significant damage to the markets, sharp corrections are to be expected in a rising trend. He sees this as an opportunity for investors and advises against being influenced by pessimistic forecasts.

Please note that The Daily Hodl is not offering investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets.