Tom Lee, known as the “Wall Street Big Bull,” predicts that Bitcoin will reach these peaks soon. Additionally, the analyst predicts that BTC will reach $150 thousand by 2024. Lee’s bullish outlook is in line with Bitcoin’s resurgence approaching its previous ATH level. The recent Bitcoin rally is fueled by ETF inflows and upcoming halving events.
Tom Lee’s bullish prediction for Bitcoin
Fundstrat Research Manager Tom Lee shared his bullish perspective on the future of Bitcoin. Lee says Bitcoin price is ready to return to its long-term trend line. Accordingly, he predicts a price target of $82,000 in the short term. Additionally, the analyst predicts that BTC will rise to $150,000 by the end of 2024.
Meanwhile, Lee’s predictions are in line with the current positive sentiment prevailing in the Bitcoin market. cryptokoin.comAs you followed from, Bitcoin exceeded the $68,000 level today. Thus, it approached the ATH level witnessed in November 2021 before witnessing a slight pullback. In other words, Lee’s prediction holds significance against the backdrop of Bitcoin’s recent price rise and approach to its previous ATH. BTC price has surpassed $1.3 trillion due to factors such as increased investments in the Bitcoin ETF, anticipation of the upcoming halving event, and increased investor interest in digital assets.
BTC advances amid bullish forecasts
Tom Lee’s optimistic prediction that Bitcoin will reach $150,000 by the end of 2024 underlines growing confidence in the cryptocurrency’s long-term potential. This prediction adds to the prevailing optimism surrounding Bitcoin’s future trajectory. This optimism is fueled by recent market dynamics and positive regulatory developments. Additionally, the recent rally that has pushed the Bitcoin price close to $69,000 points to a resurgence driven by several factors, including significant BTC ETF inflows and the anticipation of the upcoming Bitcoin halving event in April.
Amid this positive momentum, Lee’s bullish outlook further supports investor confidence. Thus, it opens the door to potential corporate entries. It also paves the way for wider adoption of cryptocurrencies as a viable asset class. Meanwhile, at the time of writing, BTC price was trading at $67,500, up 3.44% on a daily basis. Transaction volume increased by 66% to $76.5 billion. On the other hand, Bitcoin Futures Open Interest (OI) also increased by 6.27% in the last 24 hours to 485.87 thousand BTC or $32.39 billion.
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