Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Bitcoin Supply Shortage Could Trigger Big BTC Chase, Says Fundstrat’s Tom Lee

Bitcoin Supply Shortage Could Trigger Big BTC Chase, Says Fundstrat’s Tom Lee

Daily HodlDaily Hodl2024/12/03 16:00
By:by Henry Kanapi

The chief investment officer of a financial research boutique believes that Bitcoin ( BTC ) could face a supply shock once it clears the $100,000 price level.

In a new CNBC interview, Fundstrat’s Tom Lee says Bitcoin’s scarcity is starting to be a problem for crypto exchanges.

Lee says the dwindling supply of available BTC for sale will likely be felt once Bitcoin shatters the psychological price point of $100,000.

“I think some of this could be – there’s a lot of folks who don’t want Bitcoin over $100,000 and some of it may be the exchanges themselves [that] are concerned, because there is a pretty low supply of Bitcoin available over the counter.

So you have a supply shortage, and if Bitcoin makes a move above $100,000, I think there would be a big chase. 

So I’m still confident Bitcoin’s going to close much higher before year-end… Well above $100,000 before year-end. It’s just a matter of time.” 

Recently, Lee hopped on an interview with SkyBridge Capital founder Anthony Scaramucci to give his 12-month outlook for BTC. According to the Fundstrat executive, Bitcoin could witness up to 150% gains from current levels in just one year.

“Over the next twelve months, I think something over $250,000 is possible, but maybe highly probable based on just following this price cycle.”

At time of writing, Bitcoin is trading for $95,844.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix


Generated Image: Midjourney

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

BC.GAME Rebrands, Expands $BC Crypto Ecosystem

BC.GAME, a leading name in Web3 gaming, has unveiled a major brand overhaul, introducing a new logo, updated colour scheme, and the bold slogan “Stay Untamed.” The rebrand signals the company’s sharpened focus on crypto integration and its vision to build a global, community-driven Web3 entertainment ecosystem.

DeFi Planet2025/05/13 17:00
BC.GAME Rebrands, Expands $BC Crypto Ecosystem

Ethereum Rally Stalls Near $2.58K as Holders Take Profits

Ethereum is priced at $2,438, marking a 3.5% decline in the last 24 hours after experiencing a 34% increase over the past week. According to data from Coinglass, open interest has fallen by 2%, suggesting a decrease in leveraged positions. This pullback comes after an impressive rally, during which ETH rose from $1,800 to over $2,500 in just a few days.

DeFi Planet2025/05/13 17:00
Ethereum Rally Stalls Near $2.58K as Holders Take Profits

Truth Social Denies Memecoin Launch Amid Trump Token Controversy

Truth Social, the social media platform owned by Trump Media & Technology Group, has denied circulating rumours suggesting it is launching a memecoin. In an official post, the platform dismissed the speculation as false, reiterating that it had no involvement in any crypto token launch.

DeFi Planet2025/05/13 17:00
Truth Social Denies Memecoin Launch Amid Trump Token Controversy