Bitcoin Could Hit $150K This Year, Says Fundstrat's Tom Lee
Tom Lee of Fundstrat predicts that Bitcoin could reach as high as $150,000 this year, driven by factors such as ETFs, the halving, and expected monetary policy easing.
Fundstrat's Tom Lee predicts Bitcoin to reach $150,000
Tom Lee, head of research at Fundstrat, remains bullish on Bitcoin and believes that it could reach as high as $150,000 this year. He cites several factors contributing to this potential price increase. First, the launch of new ETFs has created fresh demand for Bitcoin. Additionally, the upcoming halving event will result in a decrease in supply. Lastly, if monetary policy eases as expected, it will be supportive for risk assets, including Bitcoin.
Despite Bitcoin's recent rally, which saw it reach its highest price in 26 months at $53,000, the cryptocurrency has experienced a slight cooldown, trading at $50,900. However, Lee remains confident in Bitcoin's resilience and does not anticipate a significant drawdown in the near future.
While Lee maintains his bullish outlook, other analysts offer a more cautious perspective. Joel Kruger, market strategist at LMAX Group, advises caution in the short term, citing potential volatility due to shifting central bank policies and the impact of global macro weakness. Nevertheless, he suggests that any downturn could present an opportunity for strategic positions. Swissblock, an analytics firm, also acknowledges a potential pullback in Bitcoin's price before it resumes its upward trend.
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Krisztian Sandor is a reporter at CoinDesk, focusing on stablecoins and institutional investment in the U.S. markets. Sandor holds positions in Bitcoin and Ethereum. CoinDesk also organizes Consensus, a prominent event that brings together crypto, blockchain, and Web3. To learn more and register for Consensus 2024, visit consensus.coindesk.com.
