Tom Lee: Bitcoin is expected to hit a new all-time high this year, and Ethereum will outperform Bitcoin

BlockBeats News, January 18 — Tom Lee, Chairman of BitMine and Co-Founder of Fundstrat, said in an interview with CNBC, "From the overall market perspective, I think the first five trading days of January being up is good news. This is a very positive sign for the entire year and gives us more room to target the S&P 500 at 7,700 points.

The recent volatility in the financial sector, the overall market, and the crypto market over the past few days has, to some extent, reflected the impact of policy factors. Washington is trying to limit credit card interest rates, and if this policy is implemented, I believe it will have a shock on the financial industry because it will weaken financial institutions' ability to extend credit to various types of consumers.

Meanwhile, the advancement of the 'Clarity Act' is very positive news for the crypto industry. The crypto market was heavily impacted in October last year, so we believe that as time passes and we move further away from the shock point, the market will experience a significant recovery.

Therefore, we are optimistic about Bitcoin. We believe Bitcoin has the potential to reach new all-time highs this year; at the same time, our attitude towards Ethereum may be more positive, and we expect Ethereum's performance to outperform Bitcoin."