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Following the recent Fed decision, the falling prices of cryptocurrencies seem to have given way to a rise. In recent minutes, BTC, which has risen above $63,000 and is trading at these levels, continues to attract attention with comments from significant market figures.
Will Bitcoin’s Price Increase?
A statement by Fundstrat’s co-founder Tom Lee has caught attention. According to Lee, the price of Bitcoin does not yet appear to have reached its peak. In the latest episode of the “Speak Up” program with famous American investor Anthony Scaramucci, he said:
This doesn’t mean it will reverse today, but I don’t think this is a peak.
Lee also mentioned that the recent price drop in Bitcoin should be considered a bear trap and a good buying opportunity.
I think the April chaos is somewhat deceiving us.
How Much is Bitcoin Now?
Bitcoin’s price is currently at $63,000, following an increase of over 6% in the last 24 hours. This rise occurred after Bitcoin briefly fell to $56,000 on May 1st.
Previously, Lee had stated that the price of BTC could reach $150,000 by 2024. After reaching its all-time high of $73,737, Bitcoin experienced a 16.2% drop.
Will Bitcoin End?
According to Lee, Bitcoin represents the purest form of trust and is definitely positioned as a breakthrough in technology. The famous figure also notes that Bitcoin’s secure structure offers many benefits.
Looking at it from another angle, the research director at Starbucks stated that people not buying coffee with Bitcoin at Starbucks should not be interpreted as Bitcoin being impractical.
Returning to Lee’s statements, the famous figure believes that due to the market’s size, Bitcoin’s price will never return to zero again. Lee finally said:
Many attempts have been made to eliminate Bitcoin… but eventually, financial institutions are slowly beginning to realize that it is actually a great solution. Therefore, BlackRock and others are supporting it through spot Bitcoin ETFs.
