The CEO of Fundstrat, a market insights platform, is emphasizing that Bitcoin will still experience significant growth this year, despite its volatile price movements over the past six weeks. Tom Lee, in a recent CNBC interview, believes that Bitcoin’s bull market cycle is far from over. He argues that Bitcoin and other asset classes have not yet acknowledged the Federal Reserve’s shift toward a looser monetary policy.

According to Lee, Bitcoin is still in the early stages of an upward cycle, and he maintains that reaching $150,000 this year is still a possibility. He also suggests that the Federal Reserve’s dovish stance on inflation, which is more accommodating than the market’s expectations, is supporting the recovery of the markets.

As of now, Bitcoin is trading at $62,508, experiencing a 1.31% decrease in the past day.

When examining the stock market, Lee observes that several publicly listed companies are reporting strong earnings growth this quarter. He also highlights that the market conditions appear bullish, with trillions of dollars still waiting on the sidelines. Lee believes that earnings growth is accelerating, with Q1 earnings up 7%, and expects energy and healthcare sectors to rebound in the next quarter, leading to an 11% growth in earnings.

Lee acknowledges the presence of pent-up demand, an increase in capital spending, and positive indicators such as the turning up of ISMs (Institute for Supply Management) and the existence of $6 trillion in cash on the sidelines. He states that people have been cautious for over two years, and the risk-reward ratio still remains favorable.

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