Hedge fund veteran Tom Lee remains optimistic about the stock market and Bitcoin (BTC) following the highly anticipated halving on April 20. In a recent interview on CNBC, Lee stated that the halving, which reduced Bitcoin miners’ rewards by half, along with the Runes protocol’s rise, which has generated significant fees for the flagship blockchain, will contribute to an increase in price. Lee, who has long been bullish on Bitcoin, predicts that Bitcoin could reach a cycle top of $150,000, possibly before the end of the year.

Lee emphasized the significance of Bitcoin’s pre-programmed block reward reduction every 210,000 blocks, highlighting the impact this has on cutting the supply while demand remains strong. He also mentioned that the increased usage of the Bitcoin network due to protocols like Runes has strengthened the demand side and reduced the supply side, creating upward pressure on price. Lee believes that Bitcoin will reach new all-time highs this year, with a potential target of $150,000. Looking further ahead, Lee sees no issue with targets such as $500,000 or even higher.

In addition to his bullish stance on Bitcoin, Lee is also positive about the stock market, which has experienced a correction from its recent highs. He believes that the market has reached an oversold level, supported by the DeMark Sequential indicator, which identifies trend reversals based on previous closing prices. According to Lee, the cycle turn date is April 20th, and the DeMark count is close to seven, suggesting a potential bottom or turning point in the market.

Lee acknowledged that the current market conditions have caused some damage, but he sees this as an opportunity for investors. He noted that in a rising trend, sharp corrections are expected, shaking out weak hands. Despite many top callers, Lee believes that the current situation presents a good opportunity for investors.

Disclaimer: The opinions expressed in this article are not investment advice. Investors should conduct their own research before making high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are made at the investor’s own risk, and any losses incurred are their responsibility. This article does not recommend the buying or selling of cryptocurrencies or digital assets, nor does it serve as investment advice. Please note that the publication participates in affiliate marketing.