"Bitcoin can easily reach $200,000 by year-end"

An opinion has emerged that the price of Bitcoin (BTC) could rise to $200,000. The analysis is that investor sentiment will be strengthened by the U.S. Federal Reserve's (Fed) rate cuts.

On the 9th (Korean time), Tom Lee, Fundstrat managing partner, who spoke with CNBC, predicted a rate cut at the Federal Open Market Committee (FOMC) meeting on September 17 and said, "Cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) are very sensitive to monetary policy," adding, "If rates are cut, Bitcoin could easily surpass $200,000 before year-end."

The market is currently treating a September rate cut as a done deal. According to the Chicago Mercantile Exchange (CME) FedWatch tool that day, the probability of the Fed cutting rates by 25bp in September was 89.4%, and the probability of a 50bp cut was 10.6%.

As of 8:23 a.m. that day, Bitcoin was trading at $112,203, up 0.66% from the previous day, according to CoinMarketCap.