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.

This price would be double the current highs. At the time of publication, the price of Bitcoin was quoted at US$69,849.22, up 0.3% in the last 24 hours. Over the past seven days, BTC has increased by 5.0%.

When explaining his very optimistic view of the growth of Bitcoin, Lee highlighted in his argument the macroeconomic changes coming from the United States.

$150,000 #Bitcoin this year is our base case. Bitcoin is early in an up-cycle – Fundstrat 👀 pic.twitter.com/V6vFGgKAdV

— Bitcoin Archive (@BTC_Archive) May 23, 2024

The highest price paid for Bitcoin (BTC) was $73,737.94, recorded on March 14. Comparatively, the current price is 5.28% lower than the historical peak.

It is worth remembering that Mark Yusko, an experienced American investor and hedge fund manager, recently shared his expectations regarding the future of Bitcoin (BTC), the leading cryptocurrency on the market. Yusko is convinced that Bitcoin can reach the $150,000 mark later this year, a remarkable feat considering that the digital currency currently trades just above $69,000.

According to Yusko, who leads Morgan Creek Capital Management, Bitcoin will not only double its value but also solidify its position as the “king” of cryptocurrencies. In his words during an appearance on CNBC’s “Fast Money” program, the CEO and chief investment officer emphasized that “Get out of scratch”, encouraging investors to dedicate 1% to 3% of their portfolios to Bitcoin, which he compares to a superior version of gold.

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 or trading cryptocurrencies carries a risk of financial loss.