Bitcoin (BTC) is set to reach $150,000 in 2024, according to Tom Lee, a well-known commentator in the crypto market. Lee, who is a managing partner and head of research at Fundstrat Global Advisors, reiterated his bullish BTC price prediction during an interview on CNBC. He stated that Fundstrat sees a “base case” scenario where Bitcoin could hit six figures by 2024. Lee believes that Bitcoin is still in the early stages of an upcycle and that reaching $150,000 this year is still within their base case. This price target would be double the current all-time highs. Lee attributes this potential price increase to macroeconomic changes in the United States, particularly the Federal Reserve’s more dovish stance on interest rate cuts compared to the market’s perception. Despite not all of his previous predictions coming true, Lee emphasized the long-term profitability of being long on BTC. At the time of writing, BTC was trading at around $70,000, up 15% for the month.
Tom Lee predicts Bitcoin price to reach $150K in 2024 as the most likely scenario.