Tom Lee, the co-founder and head of research at Fundstrat Global Advisors, recently appeared on ‘Squawk on the Street’ to discuss market predictions and his thoughts on the future price of Bitcoin (BTC).
Lee, who is also a contributor to CNBC, accurately predicted that inflation would continue to decrease. As we approach the second half of the year, he has set a new target for the end of the year.
According to Lee, S&P earnings may surpass expectations. “As we are now halfway through the year, the 2025 earnings are looking much stronger than we initially anticipated. We initially estimated around 260, but it could be closer to 275, maybe even 280, or close to 285,” he stated.
With the Fed having more reasons to be dovish and the potential softening of the employment situation, Lee suggests that price/earnings multiples could increase next year. “So, I would say that U.S. stocks should be higher from now until the end of the year. The first half of the year was strong, and while the second half may not be as robust, we need to build on those gains,” he added.
In addition to discussing the stock market, Lee also addressed the topic of Bitcoin. Despite BTC dropping below 60,000, it has now almost returned to 63,000. Lee made the following comments about Bitcoin: “It is likely that Bitcoin will reach 150,000, and with Mt. Gox starting to distribute, this major pain point that has plagued the crypto market for years is expected to diminish in July. This could be a reason to anticipate a significant rebound in the second half.”
Lee emphasized that Bitcoin tends to make most of its gains within 10 days each year. If you exclude the top 10 days in a single year, Bitcoin actually shows a negative return.
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