Tom Lee predicts BTC could reach $200K this year

Tom Lee, founder of U.S. market research firm Fundstrat, said in an appearance on CNBC that Bitcoin could potentially reach $200,000 by the end of this year. He noted that cryptocurrencies such as Bitcoin and Ethereum are highly sensitive to monetary policy, predicting that the price of Bitcoin will rise if the U.S. benchmark interest rate is cut as expected on Sept. 17.