[Tom Lee: This is just the first wave of the rally, institutions are betting on a 'big move' in Q4] BlockBeats News, September 1, Tom Lee stated during an appearance on CNBC: 'I think the number of people who truly hold cryptocurrencies is actually very small. Because of this, I believe Bitcoin can easily break into six figures (e.g., above $100,000), although it might also be affected by interest rate hikes. As for where cryptocurrencies are headed, I think this will be a good test, but we’ve already seen long-term yields (interest rates) rising. So, if we see the Federal Reserve raising rates, but long-term yields actually falling, that would essentially equate to monetary easing. Therefore, the key might be how long-term yields respond to the Fed's rate hikes. I think this is just the first wave of the rally because this round of cryptocurrency movement has caught many people off guard (unprepared). Hmm, I believe institutional investors are buying cryptocurrency-related stocks, and this is quite evident—the trading volume has surged significantly. This signal indicates that they are betting on a big move in Q4. I think $150,000 is still possible, hmm, and actually, it’s not that far off from now.' [Original Link]