Odaily Planet Daily News Tom Lee, director of research at Fundstrat, predicted in an interview with CNBC Squawk Box that if a series of bitcoin spot ETF applications are approved, changes in supply and demand for bitcoin will drive prices up sharply.
When asked what the price of Bitcoin will be by the end of next year, Lee said, "If the 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 , and maybe even around $180,000.”
Lee clarified that this could be the case as long as it is a U.S.-approved spot bitcoin ETF, as there are already spot bitcoin ETFs in Europe. (Cointelegraph)