Tom Lee from Fundstrat predicted the growth of the cryptocurrency market

During a recent interview with CNBC, Fundstrat CEO Tom Lee opined that markets are in a good position for growth. The expert pointed to the fact that interest in short shares has grown to the highest level in 3 years. The specialist noted that in the near future, quotes for Bitcoin and other leading digital currencies may begin to increase.

«Now we just need a positive catalyst. I think that as long as inflation is not at the level expected, we will be in a good position for growth,” he emphasized. Lee added that the market may be close to or have already reached a potential local bottom.

The Fundstrat specialist also believes that sharp corrections are normal during bull market cycles.. The fact is that many large and well-known players take part in the auction. Volatility presents a great opportunity for them.

Last week, US Federal Reserve Chairman Jerome Powell acknowledged that it would take «longer than expected» for inflation to return to its 2% target.

Inflation remains the top concern for investors, according to Bank of America's (BofA) April Credit Investor Survey.. Moreover, almost half of them, namely 45%, expect the US central bank to soften its rhetoric. Recall that on April 17, 2024, the price of BTC fell below the $60,000 level just a few days before the halving. This was caused by statements from Fed representatives, as well as the escalation of tension in the Middle East.

According to data as of the evening of April 22, the Bitcoin rate is around $66,340. The value of the virtual currency has increased by 5.4% over the past 7 days. The market capitalization of the digital coin reached $1.3 billion. Over the past 7 days, trading participants secured transactions with BTC in the amount of $145.55 billion.