Bitcoin faces "bad news" in July, BTC is expected to rise to $150,000 by the end of the year!

Fundstrat head of research Tom Lee said that Bitcoin still has room for new upside in the future, and investors will see a sharp rise in the price of Bitcoin to $150,000 by the end of this year.

Lee, one of the most optimistic Bitcoin forecasters in recent years, predicts that Bitcoin is still expected to reach a value of $150,000, which means its price will rise by 138% from Monday. This may surprise token holders, as they saw Bitcoin fall 7% in the past month shortly after hitting an all-time high in early 2024. However, Lee said the sell-off was partly due to concerns about the compensation of Mount Gox, a cryptocurrency exchange that locked up about $9 billion worth of cryptocurrency when it declared bankruptcy a decade ago.

The trustee responsible for overseeing the exchange's bankruptcy announced that repayments will be issued to approximately 20,000 users starting this month. According to K33's research, the expectation of this event has recently put pressure on cryptocurrency prices. There are concerns that the distributions will lead to huge selling pressure on bitcoin as investors cash out huge gains since their accounts were locked out a decade ago. But Lee said the impact of the repayments will fade gradually, and predicted that bitcoin will rise sharply again for the rest of the year. "Bitcoin may start to feel the impact of the Mount Gox distribution in July. It's been a huge overhang for many years, but if I invest in cryptocurrencies, knowing that one of the biggest overhangs will disappear in July, I think it's a reason to expect a pretty strong rebound in the second half of the year," he said.

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