Lee Sees Crypto Comeback in Q4 with Clarity Act Passage
Fundstrat's Tom Lee says Bitcoin and Ethereum are positioned for a major fourth quarter if the CLARITY Act passes this year. He calls it one of four catalysts he expects to drive crypto higher into year-end.
Lee's four catalysts for a crypto comeback include the performance of cryptocurrencies relative to other asset classes, which have been the best-performing macro assets in the third quarter so far. He also points to the end of the traditional four-year cycle in the crypto market next month, which he expects will bring back investors who had stepped away from the space.
Lee mentions strengthening fundamentals building throughout the year, including strong momentum in tokenization and a breakout product launch from Robinhood. The fourth catalyst is the CLARITY Act itself, which Lee believes could happen this year and would have a huge impact on Bitcoin and Ethereum prices if it passes.