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Tom Lee, who predicted the previous bullish trend, shared his new prediction for Bitcoin (BTC)! "On the verge of a explosive rise!"
Bitcoin (BTC) rose above 111 thousand dollars after the rally it experienced last week.
While strengthening expectations for a new record rise, Tom Lee, co-founder of Fundstrat Global Advisors known for his bold predictions for Bitcoin, announced his new expectations for Bitcoin.
Tom Lee, who shares from account X, stated that Bitcoin is about to enter the banana region stage, which has high growth potential.
Lee used an analysis shared by Global Macro Investor's head of macro research, Julien Bittel, in his prediction.
According to Bittel's chart, Bitcoin has been following four major market cycles since 2011. And each cycle consists of two correction phases before entering a rapid growth period known as the "banana zone."
According to the shared chart, the current cycle started in 2022 and is currently experiencing its first correction. The second correction is occurring within the banana zone. If history repeats itself and the cycle continues in the same way, Bitcoin may be on the verge of a significant rise.
Lee said in an interview with CNBC earlier this year that he expects Bitcoin to exceed $150,000 this year.
Lee also expressed that he expected Ethereum (ETH) to show strong performance and reach between 5,000 and 6,000 dollars.