Bitcoin (BTC) at $150,000: Only one condition to meet!

Fundstrat co-founder Tom Lee has predicted that the price of Bitcoin (BTC) could explode to $150k under certain conditions. If the U.S. SEC approves Bitcoin ETFs, the parent cryptocurrency could see its price cross the $150k mark. Among other key factors favoring this trend, he also states the interaction of cryptos with the general monetary climate.

Approval of Bitcoin ETFs (BTC): the main catalyst

Tom Lee, co-founder of Fundstrat, set out a potential direction for the bitcoin price on CNBC’s “Squawk Box”. He stated that Bitcoin could break the $150k barrier, explaining the key factors that could guide this trajectory. The most notable factor is the possibility of the U.S. SEC approving Bitcoin ETFs. According to Tom Lee, such a decision could tip the balance in favor of Bitcoin reaching $150k to $180k.

This potential trajectory depends, however, on SEC approval. Indeed, while Bitcoin ETFs have found their place internationally, this is not yet the case in the USA. US SEC approval is thus a cornerstone for the crypto industry. Some believe that only a Republican victory in the 2024 presidential election could lead to the approval of the Bitcoin ETF (BTC).

Fundstrat co-founder Tom Lee predicted that if the US SEC approves the spot bitcoin ETF, it may push the price of bitcoin to break through $150,000, or even close to $180,000. One view is that a Republican victory in the 2024 presidential election would lead to ETF approval.…

— Wu Blockchain (@WuBlockchain) August 17, 2023

The undeniable interaction between crypto and inflation

Tom Lee also highlighted the interaction between cryptos and the general monetary climate. Indeed, stabilizing inflation rates could lead to an easing of financial conditions. This would encourage central banks to loosen their grip, creating a favorable environment for cryptos, particularly bitcoin (BTC).

The Fundstrat co-founder added that current core inflation of 0.16% is anchored by robust real estate figures. However, he expects inflation to soften and fall below 2% by the middle of next year. In an environment favorable to cryptos, Bitcoin (BTC) could finally take off after its consolidation at the $30k level.