Fundstrat Capital calls the BTC rate of $90 000 a good point for entering the market

At the same time, the company allowed the possibility of a short-term correction of the asset to $70 000

14.01.2025 - 08:50

380

1 min

What’s new? Fundstrat Capital Chief Investment Officer Tom Lee, in an interview with CNBC on January 13, called bitcoin’s $90 000 price a good entry point for long-term investors, despite some analysts predicting a drop below $70 000. He added that BTC could fall 15% from its all-time high, which is a “pretty normal correction” for a “hyper-volatile asset.”

Material by CNBC

What else is known? Bitcoin hit an all-time high of $108 353 on December 17, 2024, and has dipped below $90 000 in the past 24 hours, but has recovered to $95 520 at the time of writing.

Lee noted that we are now in the early stages of another halving cycle and bitcoin will be one of the best performing assets this year, so there are good opportunities for potential long-term holders to make money.

Halving is an event embedded in bitcoin’s code that occurs every four years since its launch and halves the reward for mining a single block, slowing issuance and reaching a maximum supply of 21 million coins. The fourth halving in April 2024 reduced the reward to 3,125 BTC.

At the same time, Lee said that Fundstrat allows scenarios in which the asset will correct to $70 000 or even $50 000. However, he emphasized that BTC does not consolidate at such marks and a new rally will begin after their possible achievement.

Lee said the next key date for bitcoin and the stock market will be January 15, when the US Consumer Price Index (CPI) data, which is used to track inflation, arrives. As such, the top executive recommended investors to “ride out” any volatility over the short term.

Author: