rewrite this title Bitcoin Could ‘Easily’ Reach $200,000 This Year, Says Tom Lee – Decrypt

Bitcoin can still reach $200,000 per coin by year-end, crypto bull and Fundstrat Global Advisors Managing Partner Tom Lee told CNBC on Monday. 

Lee, who has made bold predictions in the past, said that the U.S. central bank’s expected incoming interest rate cut at its next monetary policy meeting on September 17 would push the asset higher. 

“Bitcoin and cryptocurrencies like Ethereum are super sensitive to monetary policy,” Lee said. “I think September 17 is an important catalyst.” 

He added: “I think Bitcoin can easily get to $200,000 before the end of the year, and I know that’s a big move.”



Bitcoin was recently trading for a little over $112,000, up less than a percentage point over the past 24 hours period, CoinGecko data shows. It hit an all-time high last month of $124,128 before sagging amid investor angst about inflation, the U.S. economy and other macroeconomic uncertainties. 

Lee, who is also the force behind Bitcoin miner BitMine Immersions’ Ethereum treasury strategy and serves as that company’s chair, has been right in general about Bitcoin’s rise, but wrong about the dates the coin hits price targets. In 2018, for example, the investor said that Bitcoin would hit $125,000 by 2022. The flagship cryptocurrency’s highest price that year was $47,737 before it crashed to below $16,000 after having broken a record of $69,044 in 2021. 

The Federal Reserve has been slow to cut interest rates this year, despite pressure from President Donald Trump. Analysts are expecting the central bank to cut interest rates next week with U.K. bank Standard Chartered saying Friday that it expects a .50% rate reduction from the current range between 4.25% and 4.50%. 

Cryptocurrencies have typically done well in a low-interest rate environment—along with stocks—in the past as liquidity enters the market. 

The Federal Reserve last year cut interest rates three times, leading to price bumps in the leading cryptocurrency. But it has resisted slashing rates again as inflation has remained stubbornly higher than the bank’s goal of 2% annually. 

President Donald Trump has rattled markets by insulting Federal Reserve Chair Jerome Powell for not cutting interest rates sooner. Trump tried to fire Federal Reserve Governor Lisa Cook, who has sued to challenge the move.

The Federal Reserve is expected to be independent of political influence.