Tom Lee, managing partner and head of research at Fundstrat, predicts that a string of successful bitcoin spot ETF filings will shift bitcoin’s supply and demand dynamics toward substantial price appreciation.
When asked what the price of bitcoin will be by the end of next year, Lee said that if a spot bitcoin (ETF) is approved, I think the demand will be greater than the daily supply of bitcoin, so the liquidation price will exceed $150,000, Maybe even around $180,000.”
Lee clarified that this could be the case as long as it is a US-approved spot bitcoin ETF, as there are already spot bitcoin ETFs in Europe.