Thomas Lee: Bitcoin’s Price Needs To Surpass $150,000 USD to Be Liquid Enough for BTC ETF

    Infamous Bitcoin Price predictor Tom Lee, of Fundstrat, talks to BlockTV about the BTC/USD exchange rate value getting to $150,000 for proper liquidity before Bitcoin ETF approval.

    People are talking about the so-awaited Bitcoin exchange-traded fund (ETF) for quite a lot of time. However, according to Tom Lee, the co-founder of Fundstrat, Bitcoin is not liquid at the moment, so there is simply no way the ETF could be successfully created.

    Lee argues that the price of BTC would need to be at least $150,000 USD for the market to have enough liquidity. Only this would make the ETF possible. This is basically the main reason why we’ll not have the ETF this year. With a market under $200 billion USD, the market is not very liquid at the moment.

    The ETF would basically create what Tom Lee describes as a major demand imbalance. This could turn the whole idea into something unfeasible. Also, the U. S. Securities and Exchange Commission (SEC) will probably not want to have its image linked to the dangerous project, which is why it generally just postpones it.

    Only after Bitcoin would not be so small anymore that it would be the kind of asset that generally can have an ETF. It is because of this that people, in Lee’s opinion, should be tempering their expectations a bit.

    He affirmed that the gold ETF was only approved in 2003 and gold is a very old asset. These developments simply don’t happen overnight, which is why it is important to be very patient and realistic when dealing with them.

    If we take what Tom Lee is saying as the truth, Bitcoin would have to really jump in price for the ETF to happen anytime soon. These days, traders are still optimistic, but many of them are believing that prices will increase tenfold this year, though, so it may take a while.

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    Silvia A
    Silvia A
    Though relatively new to the cryptocurrency and blockchain space, Silvia has a strong interest in the field and a love of writing as well. She brings an interesting take to current happenings in the industry and enjoys introducing the latest developments to cryptocurrency and blockchain enthusiasts alike. She’s excited to promote a vibrant and fresh discussion as the industry continues to develop and move forward.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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