- $3 million Bitcoin target set by Tom Lee.
- He says that a major supply shock is expected for BTC.
- This supply shock will propel the price of BTC exponentially to new ATHs.
Expectations for where the price of BTC will go next hit a snag as the crypto community is torn between signals of bull and bear reactions from the crypto market. Presently, expectations for a BTC correction are still high. Despite the confusing short-term signals, the long-term outlook is strong for Bitcoin, with $3 million Bitcoin target set by Tom Lee, who says supply shock will propel BTC price exponentially.
$3 Million Bitcoin Target Set by Tom Lee
This bull cycle saw a rapid BTC accumulation race heat up with global asset managers and financial institutions rushing to accumulate both BTC and ETH after the success of their spot ETF launches. With talk of the bull market coming to an end, the price of BTC often drops significantly, but with BTC treasuries and other entities holding BTC this bull cycle, it doesn’t look like the 4-year bull cycle is still in play.
Often, due to just whale and retail activity, the price of BTC tends to drop remarkably after the bull market ends. This year, due to the explosive institutional adoption, these entities cannot afford to let the price of BTC drop, meaning they will continue to accumulate, contributing to the price of BTC continuing to move upwards. This change in dynamics could eliminate the 4-year bull cycle altogether.
In turn, the way altseason works could change, and BTC may see a pump model much like stocks going forward. This would mean that BTC holders will see new ATH prices every month, rather than new ATH prices every 4 years. But can this model really play out, with several move Bitcoin Halving events scheduled as usual to occur every 4 years? Only time will tell. Presently, several financial experts are weighing in with their opinions.
Supply Shock Will Propel BTC Price Exponentially
Figures like Robert Kiyosaki, Michael Saylor, and Tom Lee, all reputed financial experts, have shared their opinions repeatedly over the past few years and months, stating their expectations for the price of BTC to go from $200,000 this bull cycle to $2,000,000 in the coming years ahead. While some expectations put these predictions to arrive within a couple of years, others could take up to 5 years or more.
As we can see from the post above, Tom Lee says that a massive supply shock is coming for BTC. He remarks how, while 95% of the total BTC supply is mined, the entire supply is not owned by the masses. Thus, the accumulation race will be a long-fought battle, as with more accumulation, the price will go up, slowing down accumulation, until suddenly a supply shock will allow the price of BTC to shoot up exponentially, possibly to a $3 million BTC ATH.
