Renowned industry commentator and managing partner/head of research at Fundstrat Global Advis, Tom Lee, has made an incredibly optimistic prediction for the future price of Bitcoin. Lee believes that Bitcoin will experience a meteoric rise and become the largest cryptocurrency by 2024. In a recent interview with CNBC, he expressed his positive outlook on Bitcoin’s growth.
Lee forecasts that Bitcoin will reach a staggering $150,000 in 2024, surpassing all previous records and achieving unprecedented heights in terms of price. Fundstrat’s analysis suggests that the cryptocurrency will reach six figures in its “base case” scenario for 2024.
“We believe Bitcoin is still in the early stages of a bull cycle, so the idea of it reaching $150,000 this year is well within our base case,” Lee explained.
This price would represent a doubling of the current all-time highs. At the time of writing, Bitcoin is trading at $69,849.22, showing a 0.3% increase in the past 24 hours. Over the past week, BTC has experienced a 5.0% increase in value.
When discussing his optimistic outlook for Bitcoin’s growth, Lee highlighted the macroeconomic changes occurring in the United States. He believes that these changes will contribute to the cryptocurrency’s upward trajectory.
It is worth noting that Mark Yusko, an experienced American investor and hedge fund manager, also recently shared his expectations for Bitcoin’s future. Yusko is confident that Bitcoin will reach the $150,000 milestone later this year, despite its current trading price of just over $69,000.
Yusko, who leads Morgan Creek Capital Management, believes that Bitcoin will not only double in value but also solidify its position as the dominant cryptocurrency. During an appearance on CNBC’s “Fast Money” program, he encouraged investors to allocate 1% to 3% of their portfolios to Bitcoin, comparing it to a superior version of gold.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Editor’s Choice: This news has the potential to ignite a new bullish rally for Bitcoin.
