That's right bitcoin's probably Suffering from the mount gaau you know Starting distributions in July that was A huge overhang for many years but if I Was invested in crypto knowing that one Of the biggest overhangs is going to Disappear in July I think it's a reason To actually expect a pretty sharp Rebound in the second half fun Strat Global's head of research Tom Lee says Bitcoin to have a pretty sharp Rebound In the second half of the year we Obviously know today collapsed Bitcoin Exchange Mount Gau about to unload $9 Billion of coins starting in July it was Back in 2014 The Exchange got hacked There was over 20,000 creditors the long Legal process has taken 10 years and While this was announced this was Happening back here and thus the market Priced it in the institutions via the ETFs have still been buying and now with Bitcoin news ethereum upgrades altcoin News you need to see watch today's whole Video as we uncover Tom ley's next price Targets for Bitcoin by the end of this Year it's July 1st you have a new Target For the end of the year and let's Actually start with traditional markets Tom Le expects the S&P 500 to keep going Up I think the end of this year will be The Day of Reckoning for those who are Still sitting on cash the S&P earnings Might even be above what you thought yes
I I think that now that we're at the Midyear um 2025 earnings look a lot Stronger than we thought at the start of The year we thought maybe 260 it's Probably closer to 275 maybe 280 even 285 and I think the multiple we thought Originally could be 20 times that number For next year but given the FED has more Reasons to be dovish and I think maybe The employment picture is softening PE Multiples actually could be higher next Year so I'd say between now and your end Stocks should be higher I mean we've had A strong first half already and second Half won't be as strong as the first Half but we should build upon those Gains so yeah it looks pretty good so if The S&P 500 is around 5,400 today and we have half the year Remaining where will this be in 6 months A little bit more than 20% Which would be after last year's 24 24 that's a couple years no one really Expected I don't think that that's right I mean that's painful for people who've Been sitting in cash for 2 years earning 5% because they missed out on a 50% gain And that's 10 years worth of sitting on Cash so I think the end of this year is A little bit of a Day of Reckoning for Those who said oh I'm I'm happy with my 6 trillion in cash earning 5% when in Reality unless the economy is rolling Into recession you know the expansion
Continue for some time and now what is Tom ley's up updated Bitcoin forecast For the rest of 2024 you know that my uh Insecurity about crypto but first just Understand that the space in general Globally is evolving just in $13 billion Sony to launch Bitcoin and crypto Exchange this is mass adoption it's Taking place today Sony gets ready to Launch crypto Exchange in Japan with Acquired Amber platform so actually they Are revamping an old exchange which they Now own Japan's multi-industry Conglomerate Sony is getting ready to Launch a crypto exchange subsidiary by Revamping local trading platform whin Which it acquired last year whalin has Been renamed to s. blocks Co which plans To collaborate with Sony's group's other Businesses to generate additional value For its crypto trading Services yet if You're invested in Bitcoin this is huge And for gaming and for nfts you may Remember the PlayStation maker also Filed a patent last year for more Flexible use of nfts as in-game assets That it dubbed super fungible tokens so Bitcoin is not shrinking Bitcoin Adoption globally is growing and Ethereum news vitalic butan proposes Faster ethereum trades with single slot Finality so the ethereum main chain to Become fast faster and cheaper maybe Compete with Solana ethereum co-founder
Vitalic Butrin is looking to speed up Transactions on the ethereum network by Using tools that would potentially cut L1 confirmations from a few seconds to Now milliseconds now this has just been Proposed it has not been passed yet but What vitalic stated he proposed moving Away from ethereum's current Epoch and Slot mechanism to a single slot finality System and if that sounds too confusing Just understand according to buttin the Ethereum merge which happened back in 2022 has reduced L1 transaction Confirmations to now just 5 to 20 Seconds that is roughly competitive with The experience of paying with a credit Card well they're not trying to compete With credit cards anymore they're trying To compete with blockchains like Solana And in a direct quote there is value in Improving user experience further and There are some applic ations that Outright require latencies on the order Of hundreds of milliseconds or even less So if you hold ethereum you like this Update on polka dot now this news we Alerted you the other day ETF getting Closer every day polka dot is inevitable The reason people suspect a polka dot ETF is because coinbase applied to have Polka dot Futures the polka dot Futures Contract will be a monthly cash settled And margined contract with the following Specs they have applied directly to the
Cftc and while this by itself is not an ETF it's not polka dot settled it's just Cash settled these were the steps that We saw before the Bitcoin ETF bar stool Founder Dave pornoy continues to speak About Bitcoin to his millions of Followers do not cry to me if you get Rug pulled in any crypto like I did with Safe moon now in this specific question He was commenting on YouTube personality Steve will do it who just launched his Own memec coin what I realized is that The crypto community and the entire Twitter needs a hero in my opinion Expect something like this to go to zero In my opinion something like this is Just a money grab I am going to be the Hero I'm going to be the hero for X for The crypto Community I swear to God Money over legac or Jesus Christ Legacy Over Money of course to be fair I'd love to Talk to Steve invite Steve for Conversation if he really believes in This Steve will do itz crypto hero be Another rug I I didn't know he had that I the only crypto anybody should be Involved in is spelled bit t c i n I've Learned that the hard way if you want to Try to make quick bucks do not cry to me If you get rug pulled in any crypto like I did was safe Moon you have to know You're probably getting rug pulled going In it's all upon pon scheme only Bitcoin
But either way cool to get the media Attention for Bitcoin big news for Bonsai which is like the WordPress for Web 3 building no code solutions to Create your own AI rwa tokens the news Today is this big update we're launching A new and improved bonsai3 token our Seed token is transitioning to Bay a new Multi-chain token powered by layer zero Labs with a new ticker name and enhanced Utility the new bay token will be the Utility token of our ecosystem and rest Assured there will be a onetoone token Swap seed for Bay and the maximum Supply Will always remain the same at the same 1 billion tokens across all layers zero Inflation so enhanced utility usability And an upgrade for the bons I3 platform And finally as fun strats Tom Lee is Gearing up for that sharp rebound for The rest of 2024 what is his updated Bitcoin Target you know that my uh Insecurity about Crypto manifested itself again in my Feet of clay because I said Tom Le is Going to be absolutely right about the 5500 why is he still saying 150 for Bitcoin why do that why not just focus On stock don't stick your neck out Because it was falling below 60,000 now It's back to almost 63,000 so that 6 Trillion we just talked about that sort Of plays in into your Bitcoin thesis That's right bitcoin's probably
Suffering from the mount gaau you know Starting distributions in July that was A huge overhang for many years but if I Was invested in crypto knowing that one Of the biggest overhangs is going to Disappear in July I think it's a reason To actually expect a pretty sharp Rebound in the second half so I think You know 150 is still within it's Already July 1st so that's that's so You're not taking that off the table That's still a possibility that's right And you know one thing keep in mind Bitcoin makes most of its gains within With 10 days every year if you take out The 10 best days in a single year Bitcoin actually has negative returns And if you're looking to hang out have a Beer use code altcoin daily for 10% off Your tickets to bitcoin Nashville only 4 Days remaining until ticket prices go up So link down below use code altcoin Daily see you tomorrow
