Raoul Pal, previously with Goldman Sachs, anticipates a stock market turnaround. After observing three weeks of downward corrections, he believes the market is nearing its lowest point and will soon stabilize.
A prominent analyst suggests that Bitcoin (BTC) could be emulating its 2020 market framework, during which the leading cryptocurrency surged from approximately $16,000 to $60,000 within a matter of months.
Tom Lee, the managing partner of Fundstrat Global Advisors, has made a bold prediction about Bitcoin (BTC), stating that the cryptocurrency could potentially reach six figures before the halving event scheduled for 2024.
Tom Lee of Fundstrat forecasts a potential surge in Bitcoin's value to around $200,000 within five years. He believes the impact of a US-authorized Bitcoin ETF is significantly underestimated, which, if approved, could boost Bitcoin's market. If an ETF isn't approved, he expects Bitcoin to rely on organic network effects.
Bitcoin and the entire crypto market have received a positive signal of recovery with the news that the Fed will slow down rate hikes. However, it is still not clear that the picture will be entirely brighter for crypto.