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DebugKit\ToolbarService::isSuspiciouslyProduction() - ROOT/vendor/cakephp/debug_kit/src/ToolbarService.php, line 169
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DebugKit\Plugin::bootstrap() - ROOT/vendor/cakephp/debug_kit/src/Plugin.php, line 48
Cake\Http\BaseApplication::pluginBootstrap() - CORE/src/Http/BaseApplication.php, line 182
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Cake\Cache\Engine\FileEngine::set() - CORE/src/Cache/Engine/FileEngine.php, line 141
Cake\Database\Schema\CachedCollection::describe() - CORE/src/Database/Schema/CachedCollection.php, line 85
Cake\ORM\Table::getSchema() - CORE/src/ORM/Table.php, line 513
Cake\ORM\Table::getPrimaryKey() - CORE/src/ORM/Table.php, line 653
Cake\ORM\Query::_addAssociationsToTypeMap() - CORE/src/ORM/Query.php, line 507
Cake\ORM\Query::contain() - CORE/src/ORM/Query.php, line 462
App\Controller\NewsController::action_() - APP/Controller/NewsController.php, line 6433
App\Controller\NewsController::get_data() - APP/Controller/NewsController.php, line 5701
App\Controller\NewsController::action_cache() - APP/Controller/NewsController.php, line 5625
App\Controller\NewsController::cache_action() - APP/Controller/NewsController.php, line 5281
App\Controller\NewsController::view() - APP/Controller/NewsController.php, line 3436
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 539
Cake\Controller\ControllerFactory::handle() - CORE/src/Controller/ControllerFactory.php, line 140
Cake\Controller\ControllerFactory::invoke() - CORE/src/Controller/ControllerFactory.php, line 115
Cake\Http\BaseApplication::handle() - CORE/src/Http/BaseApplication.php, line 317
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Cake\Database\Schema\CachedCollection::describe() - CORE/src/Database/Schema/CachedCollection.php, line 85
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App\Controller\NewsController::action_() - APP/Controller/NewsController.php, line 6539
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App\Controller\NewsController::action_cache() - APP/Controller/NewsController.php, line 5625
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 539
Cake\Controller\ControllerFactory::handle() - CORE/src/Controller/ControllerFactory.php, line 140
Cake\Controller\ControllerFactory::invoke() - CORE/src/Controller/ControllerFactory.php, line 115
Cake\Http\BaseApplication::handle() - CORE/src/Http/BaseApplication.php, line 317
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App\Controller\NewsController::action_() - APP/Controller/NewsController.php, line 6766
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Cake\Http\BaseApplication::handle() - CORE/src/Http/BaseApplication.php, line 317
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Cake\Http\Middleware\CsrfProtectionMiddleware::process() - CORE/src/Http/Middleware/CsrfProtectionMiddleware.php, line 164
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Cake\I18n\Middleware\LocaleSelectorMiddleware::process() - CORE/src/I18n/Middleware/LocaleSelectorMiddleware.php, line 61
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App\Controller\NewsController::action_() - APP/Controller/NewsController.php, line 6766
App\Controller\NewsController::get_data() - APP/Controller/NewsController.php, line 5701
App\Controller\NewsController::action_cache() - APP/Controller/NewsController.php, line 5625
App\Controller\NewsController::cache_action() - APP/Controller/NewsController.php, line 5281
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 539
Cake\Controller\ControllerFactory::handle() - CORE/src/Controller/ControllerFactory.php, line 140
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Cake\Http\BaseApplication::handle() - CORE/src/Http/BaseApplication.php, line 317
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Cake\Http\Runner::handle() - CORE/src/Http/Runner.php, line 73
Cake\I18n\Middleware\LocaleSelectorMiddleware::process() - CORE/src/I18n/Middleware/LocaleSelectorMiddleware.php, line 61
Cake\Http\Runner::handle() - CORE/src/Http/Runner.php, line 73
Cake\Http\Middleware\BodyParserMiddleware::process() - CORE/src/Http/Middleware/BodyParserMiddleware.php, line 157
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App\Controller\NewsController::action_() - APP/Controller/NewsController.php, line 6766
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 539
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Cake\Http\BaseApplication::handle() - CORE/src/Http/BaseApplication.php, line 317
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Cake\Http\Middleware\CsrfProtectionMiddleware::process() - CORE/src/Http/Middleware/CsrfProtectionMiddleware.php, line 164
Cake\Http\Runner::handle() - CORE/src/Http/Runner.php, line 73
Cake\I18n\Middleware\LocaleSelectorMiddleware::process() - CORE/src/I18n/Middleware/LocaleSelectorMiddleware.php, line 61
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App\Controller\NewsController::action_() - APP/Controller/NewsController.php, line 6766
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App\Controller\NewsController::cache_action() - APP/Controller/NewsController.php, line 5281
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 539
Cake\Controller\ControllerFactory::handle() - CORE/src/Controller/ControllerFactory.php, line 140
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Cake\Http\BaseApplication::handle() - CORE/src/Http/BaseApplication.php, line 317
Cake\Http\Runner::handle() - CORE/src/Http/Runner.php, line 77
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Cake\Http\Runner::handle() - CORE/src/Http/Runner.php, line 73
Cake\I18n\Middleware\LocaleSelectorMiddleware::process() - CORE/src/I18n/Middleware/LocaleSelectorMiddleware.php, line 61
Cake\Http\Runner::handle() - CORE/src/Http/Runner.php, line 73
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App\Controller\NewsController::action_cache() - APP/Controller/NewsController.php, line 5493
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App\Controller\NewsController::article_show() - APP/Controller/NewsController.php, line 4290
App\Controller\NewsController::view() - APP/Controller/NewsController.php, line 3822
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 539
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Cake\Controller\ControllerFactory::invoke() - CORE/src/Controller/ControllerFactory.php, line 115
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App\Controller\NewsController::action_() - APP/Controller/NewsController.php, line 6766
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App\Controller\NewsController::cache_action() - APP/Controller/NewsController.php, line 5281
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 539
Cake\Controller\ControllerFactory::handle() - CORE/src/Controller/ControllerFactory.php, line 140
Cake\Controller\ControllerFactory::invoke() - CORE/src/Controller/ControllerFactory.php, line 115
Cake\Http\BaseApplication::handle() - CORE/src/Http/BaseApplication.php, line 317
Cake\Http\Runner::handle() - CORE/src/Http/Runner.php, line 77
Cake\Http\Middleware\CsrfProtectionMiddleware::process() - CORE/src/Http/Middleware/CsrfProtectionMiddleware.php, line 164
Cake\Http\Runner::handle() - CORE/src/Http/Runner.php, line 73
Cake\I18n\Middleware\LocaleSelectorMiddleware::process() - CORE/src/I18n/Middleware/LocaleSelectorMiddleware.php, line 61
Cake\Http\Runner::handle() - CORE/src/Http/Runner.php, line 73
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Wall Street Bull Predicts Bitcoin Could Dip to $50,000, but Maintains $250,000 Long-Term TargetTom Lee, one of Wall Street's biggest Bitcoin bulls and former chief equity strategist at JPMorgan, recently predicted a significant price correction for Bitcoin from its recent highs, potentially bottoming out at $70,000 or even $50,000. However, he maintains his long-term bullish outlook, with a price target of $250,000
Tom Lee, one of Wall Street's biggest Bitcoin bulls and former chief equity strategist at JPMorgan, recently predicted a significant price correction for Bitcoin from its recent highs, potentially bottoming out at $70,000 or even $50,000. However, he maintains his long-term bullish outlook, with a price target of $250,000. Lee currently serves as the chief investment officer of Fundstrat Global Advisors.
In a recent television interview, Lee described Bitcoin's recent 15% drop from its all-time high as a "normal correction" for a volatile asset. He noted that Bitcoin is currently trading near $95,000, down approximately 6.6% in the past month. This prediction comes amidst widespread uncertainty in global markets. The US stock market is experiencing a 23-day correction, with persistent inflation concerns casting a shadow over the market.
Lee emphasized that Bitcoin's price trajectory is largely influenced by global liquidity conditions. He pointed out that the market is still in the early stages of a halving cycle, laying the groundwork for Bitcoin's long-term growth. However, he acknowledged the inevitability of short-term price volatility and predicted a significant pullback, suggesting that $70,000 and even $50,000 could be potential short-term support levels.
In stark contrast to Lee's relatively optimistic prediction, cryptocurrency skeptic Peter Schiff expressed a more bearish outlook on social media platform X. Schiff likened the current enthusiasm surrounding Bitcoin to the 2021 hype surrounding Ethereum. He noted that Ethereum briefly approached $5,000 in 2021 before plummeting 40%, currently hovering below $3,000. Schiff suggested that a similar risk exists in the current Bitcoin market, hinting that the current bull run might face a similar fate. He warned investors about the current market exuberance and advised caution.
Despite this, Lee remains confident in Bitcoin's long-term upside potential. He believes the current price of around $95,000 represents an attractive entry point for long-term investors. Lee stated, "If you want timing, maybe you get lucky, it goes down to $70,000. But for me, Bitcoin goes to $250,000, so $90,000 is still a pretty good entry point." This reflects his unwavering belief in Bitcoin's long-term value and relative insensitivity to short-term market fluctuations.
Lee's prediction must also be interpreted within the broader macroeconomic context. The recent signal from the Federal Reserve to pause anticipated interest rate cuts has exacerbated wider market uncertainty. This undoubtedly presents additional challenges for risk assets like Bitcoin. Lee suggests that these macroeconomic factors, coupled with potential temporary distortions in inflation data caused by natural disasters, could influence near-term price movements in financial markets. He implies that these external factors may lead to short-term volatility in Bitcoin's price, but this doesn't alter his long-term bullish view.
Lee's analysis highlights the inherent paradox of the Bitcoin market: significant short-term price volatility alongside immense long-term growth potential. This makes Bitcoin a high-risk, high-reward investment, attracting numerous investors and speculators. However, this high volatility means investors need to carefully assess their risk tolerance and prepare for substantial price swings.
Lee's prediction is not without its detractors. Many analysts are skeptical of his price target, considering $250,000 overly optimistic. However, given Lee's years of experience and proven track record on Wall Street, his opinion warrants serious consideration. Investors should weigh various factors, including market trends, the macroeconomic environment, and their own risk appetite, when making investment decisions.
Bitcoin's future trajectory remains unpredictable. However, Lee's prediction offers a valuable perspective, helping investors better understand the complexity of the current market and informing their investment strategies. Regardless of the ultimate price direction, the Bitcoin market will continue to exhibit volatility and uncertainty, requiring investors to remain vigilant and adapt their strategies in response to market changes.
Lee's prediction also highlights the close relationship between the Bitcoin market and broader financial markets. Macroeconomic factors, such as the Federal Reserve's monetary policy and inflation levels, significantly impact Bitcoin's price. Therefore, investors need to closely monitor these external factors and adjust their investment strategies accordingly.
In conclusion, Lee's prediction provides a significant reference point for Bitcoin's future, but investors should remember that all market predictions involve uncertainty. Before making investment decisions, investors should conduct thorough research and make informed choices based on their risk tolerance and investment goals. Bitcoin's high volatility implies both high risk and high reward, requiring investors to carefully weigh the pros and cons and prepare for various market scenarios. Lee's prediction, regardless of its accuracy, reminds us that the Bitcoin market remains full of challenges and opportunities, demanding caution and rationality from investors.
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