I posted comments earlier from Fundstrat Global Advisors Managing Partner and Head of Research, Tom Lee on his S&P 500 forecast:

S&P 500 to hit 5.500 in just three week’s time

He also spoke on Bitcoin, reiterating his USD150k forecast:

There’s the tailwinds that are associated with halving that just take place.

We also know, because of the Bitcoin ETF(exchange-traded fund), there have been tremendous inflows, but institutional adoption and infrastructure being built around Bitcoin is only begining. ANd that infrastructure being built around Bitcoin is only beginning. And that makes crypto and especially Bitcoin a bona fide asset class.

And I think that sort of widening ownership is going to be propelling Bitcoin to $150.000.

And again, surprise – mabe surprising or not surprising, Bitcoin still follows math. More than 87% of the movement in Bitcoin still follows just the number of wallets and the activity per wallet and both are moving higher.

Bitcoin has been chopping around US$70k, the question for the tech folks is if its acculmation or distribution: