The base price of Bitcoin will reach $150,000 in 2024!
Bitcoin bull Tom Lee predicts that Bitcoin will double its current price before the end of the year.
🔸Tom Lee, an experienced crypto market analyst, says Bitcoin is on track to reach $150,000 in 2024.
In an interview with CNBC earlier this month, Lee, managing partner and head of research at Fundstrat Global Advisors, announced his latest bullish prediction for Bitcoin’s price.
Tom Lee forecasts Bitcoin’s price target at $150,000.
Bitcoin has no shortage of optimistic price targets this week, but some analysts are focusing on the long-term price trend. Tom Lee is one of these analysts and has stated that we will see a six-figure Bitcoin price this year.
He said, "In my opinion, Bitcoin is still in the early stages of its bull cycle, so the idea that it could reach $150,000 this year is still an optimistic prediction."
Such a price would be double the all-time high, which reached $56,000 in March before retreating earlier this month.
Lee explained his reasoning by pointing to macroeconomic changes from the United States:
"The Federal Reserve's policies on lowering interest rates are a key issue being closely watched by high-risk asset traders," he said.
"I think this is why markets are recovering, and the only reason is the change in monetary policies toward more dovish policies."
Lee is known in the cryptocurrency space for his Bitcoin price predictions. He told his Twitter followers this week that Bitcoin's extended correction phase has paid off.
When discussing his company Fundstrat's investment thesis, he wrote:
"Being intellectually stubborn is costly."