Currently, the price of Bitcoin is approaching the $70K level again. During the week, rumors of an imminent approval of an Ethereum spot ETF by the SEC sent the price of BTC soaring to almost $72,000, a peak that had not been seen in almost two months. Although it suffered a significant pullback following the approval of Ethereum ETFs, Bitcoin staged a strong recovery at the start of the weekend.
In a recent development, if it manages to sustain its recent upward momentum, market forecasts highlight that the price of Bitcoin has the potential to reach a new all-time high, reaching over $100,000.
Analyzing the current scenario, cryptocurrency trading expert with the pseudonym TradingShot highlighted in a recent TradingView post that the largest cryptocurrency on the market is expected to enter a new phase of increase and prices after a period of post-halving consolidation. The Bitcoin halving event took place on April 19.
This move comes in the same vein as previous moves seen in historical patterns from previous Bitcoin cycles, suggesting an unprecedented substantial rally for the price to $150,000.
Bitcoin price will reach US$150,000 in 2024, believes Tom Lee
Observing recent movements in the cryptocurrency market, veteran industry commentator and managing partner and head of research at Fundstrat Global Advis, Tom Lee, shared a very optimistic forecast for the price of Bitcoin, highlighting a meteoric rise for the largest cryptocurrency yet. in 2024. In a recent interview with CNBC, Lee expressed his optimistic view of Bitcoin’s growth.
For the crypto market expert, Bitcoin is on a trajectory to reach US$150,000 in 2024, breaking new barriers and reaching new heights in its unprecedented price. According to Lee, Fundstrat predicts that the price of the largest cryptocurrency on the market will reach six figures in the “base case” in 2024.
“We think Bitcoin is still at the beginning of a bull cycle, so the idea that it could reach $150,000 this year is still within our base case,” he said.
At the time of publication, the price of Bitcoin was quoted at US$68,983.49, up 2.4% in the last 24 hours. Over the last seven days, BTC has increased by 3.1% in price.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/preco-do-bitcoin-definido-para-us-150-mil-depois-da-consolidacao-pos-halving/
