Renowned industry analyst and managing partner of Fundstrat Global Advis, Tom Lee, has made an optimistic prediction for the future price of Bitcoin. Lee believes that Bitcoin will experience a meteoric rise and become the dominant cryptocurrency by 2024. In an interview with CNBC, he expressed his positive outlook on Bitcoin’s growth.
According to Lee, Fundstrat predicts that Bitcoin’s price will reach $150,000 by 2024, breaking new records and reaching unprecedented levels. He sees Bitcoin still being in the early stages of a bull cycle, making the idea of it reaching $150,000 this year a realistic possibility.
This projected price would be double the current high. As of now, Bitcoin is trading at $69,849.22, showing a 0.3% increase in the last 24 hours and a 5.0% increase over the past week.
Lee attributes his optimistic view to macroeconomic changes occurring in the United States. He believes that these changes will contribute to Bitcoin’s growth and solidify its position as the king of cryptocurrencies.
It is important to note that Mark Yusko, an experienced investor and hedge fund manager, shares a similar expectation for Bitcoin’s future. He believes that Bitcoin could reach the $150,000 mark later this year. Yusko advises investors to allocate 1% to 3% of their portfolios to Bitcoin, comparing it to a superior version of gold.
It is essential to remember that the views expressed in this article are for informational purposes only and should not be considered as financial or investment advice. Investing in cryptocurrencies carries a risk of financial loss.