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Tom Lee: Bitcoin Could Easily Reach $200,000 by End of Year After September Rate Cut
BlockBeats News, September 8th, Tom Lee stated in a CNBC interview that the Fed rate cut will bring a double benefit. First, it will lower interest rates, especially mortgage rates which may decrease (along with the narrowing of the 10-year Treasury yield spread). Second, it will boost business confidence (the ISM index has been below 50 for 31 consecutive months, a record low). This is why the September Fed rate cut will support the stock market, particularly benefiting small-cap stocks, the financial sector, and cryptocurrency.
Tom Lee said, "I think the potential Fed rate cut on September 17th (announced early morning on September 18th Beijing time) will be a significant catalyst. Cryptocurrencies typically perform well in the fourth quarter, so I think Bitcoin could easily rise to $200,000. I know this is a large increase and it has almost doubled already, but all of these gains should double."
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