Tom Lee Reiterates that the Global Stock Market will close the Year with a Strong Finish

Olivia Brooke
December 17, 2021
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Fundstrat’s Tom Lee Highlights Why Bitcoin Price Rally May Continue

Co-founder and head of research at Fundstrat Global Advisors, Tom Lee, has maintained his bullish stance on the global stock market. The Wall Street strategist previously asserted that the market was in an “everything rally” where the value of investment vehicles was expected to surge due to favorable economic conditions.

His year-end price prediction for Bitcoin during this 4th quarter, was that the leading cryptocurrency would reach as high as $100,000. Speaking with CNBC yesterday, Lee reiterated that his call was still intact and his outlook for the stock market remains largely unchanged.

The market strategist cites the approach the Federal Reserve bank is taking, as a bullish driver for the stock market, asserting that with the FED being open to reversing the planned quantitative easing and interest rate spike should the COVID-19 Omicron variant pose a threat to the economy, investors would be willing to continue making risk investments as they know that the FED has their back. According to him, the FED roadmap is such that investors understand and agree with it.

…the [FED] framework includes the risk that variants like the Delta variant slowed the economy, and if Omicron has an impact, they could roll back this framework,” Lee said. “That’s a template the market understands and agrees with.

Lee also predicts that the S&P 500 index which is currently around $4,600 will reach $4,800 before the year runs out and even advance to reach $5,000.

Market players collectively maintain optimism as the year closes

Lee’s optimism is shared by a lot of Cryptocurrency market participants. Market participants expect that a lot of Cryptocurrencies will finish the year bullishly. Bitcoin is one such cryptocurrency that has this shared optimism. According to Plan B, the creator of the Bitcoin S2F model, while Bitcoin has historically performed well in Q4, in times when it does not, it always goes on to surge in the preceding quarter.

Similarly, Ether is also expected to finish the year strong. This is already materializing as quarter on quarter, the second largest Cryptocurrency by market cap is up around 33.2%. Ether has also recently been recovering from the price dip as it has once again crossed the $4,000 mark from and is currently trading at around $4,032, up 0.21% on the day. Coming into the new year, EIP-1559 which has already removed over 1.2 million ETH from circulation is expected to make the Cryptocurrency more scarce and lead to further price surges.

Other altcoins including Solana’s SOL, and Terra’s LUNA, and meme-coins including DOGE and SHIB are also posting up great performances as the end of the year approaches.

 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Olivia’s interests spans across the Cryptocurrency and NFT and DeFi industry. She remains as fascinated by cryptocurrencies today, as she was back in 2017, when she first started reading up about them.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.