An Optimistic View of Bitcoin In a recent interview, CNBC head of research Tom Lee talked about how the approval of a spot bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) could affect the price of the world's largest cryptocurrency.

Lee believes that if a Bitcoin ETF is approved, it could make the price of Bitcoin go up to $150,000 or even $180,000. This is a big increase from its current price.

Many people in the cryptocurrency community also think that a Bitcoin ETF could attract a lot of investors. It would give traditional investors an easy and regulated way to invest in bitcoin. This could bring a lot of money into the market and make the price of Bitcoin go even higher.

The Impact of the Bitcoin Halving Event Lee also talked about the upcoming Bitcoin halving event. This event happens about every four years and it cuts the rewards that bitcoin miners get in half.

Lee said that because of the halving, we shouldn't expect the price of Bitcoin to go up to six figures right after it happens. He still believes that bitcoin has a lot of potential in the long run, but the halving might delay the price from reaching really high levels.

Bitcoin's Current Situation Right now, Bitcoin is going through a phase where it's not going up or down much. This is called a consolidation phase. Some people think the price will go up, while others think it will go down.

He said that there are certain levels that Bitcoin needs to stay above to keep going up. If it goes below these levels, it could mean that the price will go down a lot.

Right now, the price of bitcoin is getting close to one of these levels. If it goes below $29,000, it could be a bad sign for the market. But if it stays above this level and goes higher, it could mean that the price will keep going up.

Even though there are some signs that the price might go down, there are still some signs that it might go up. So, we're not sure yet which way it will go.