The stock market could see a major upswing to end 2021 as a part of an “everything rally” sparked, at least partly, by falling cases of the delta variant, predict analysts a Fundstrat Global Advisors. Such a meltup in values could also see bitcoin BTCUSD reach $100,000, said Tom Lee, Fundstrat founder, in comments on CNBC Monday where he also discussed his “everything rally” research note.
“A hundred thousand into year-end is pretty reasonable,” Lee told CNBC.
“While the hysteria around the continued surge in delta variant infection continues to grow, the IHME (Institute for Health Metrics, forecasters used by global policy makers) forecasts USA COVID-19 infections to peak this week,” wrote Lee and company, in a research note published Monday.
“What is also interesting is the IHME is not forecasting a fall surge. That is, they are not expecting a renewed wave of cases in the fall. The fall is back-to-school season, plus the start of flu season. Yet, the IHME sees this wave petering out,” wrote the Fundstrat folks, adding that this emboldens their prediction for a broad rally of assets at the end of the year.
https://www.marketwatch.com/amp/story/bitcoin-has-a-shot-at-100-000-in-everything-rally-that-sweeps-up-stock-market-fundstrats-tom-lee-predicts-11628528245
“A hundred thousand into year-end is pretty reasonable,” Lee told CNBC.
“While the hysteria around the continued surge in delta variant infection continues to grow, the IHME (Institute for Health Metrics, forecasters used by global policy makers) forecasts USA COVID-19 infections to peak this week,” wrote Lee and company, in a research note published Monday.
“What is also interesting is the IHME is not forecasting a fall surge. That is, they are not expecting a renewed wave of cases in the fall. The fall is back-to-school season, plus the start of flu season. Yet, the IHME sees this wave petering out,” wrote the Fundstrat folks, adding that this emboldens their prediction for a broad rally of assets at the end of the year.
https://www.marketwatch.com/amp/story/bitcoin-has-a-shot-at-100-000-in-everything-rally-that-sweeps-up-stock-market-fundstrats-tom-lee-predicts-11628528245
looks like Tom Lee has broad views and strong references to his predictions. he predicts in 4 months or 4 quarts in 2021 bitcoin will cross $100,000 rationally that is very crazy. but in terms of bitcoin's current growth in a week it can grow 10% so in 4 months it can grow 80%. no wonder many institutional investors are vying to adopt bitcoin lately.
