Fundstrat CEO Predicts When Bitcoin Price Will Reach $150,000 And $500,000
08 Mai 2024 - 7:00PM
NEWSBTC
Thomas Jong Lee, the Chief Executive Officer (CEO) of Fundstrat, an
independent financial research boutique, has maintained a bullish
stance on Bitcoin. The financial analyst has predicted that the
world’s largest cryptocurrency could surge massively, doubling its
current price to reach $150,000 during the 2024 crypto market
cycle. Bitcoin Could Go Parabolic In 2024 During a recent
interview on Squawk Box, CNBC on May 7, Lee doubled down on his
previous Bitcoin forecast, expressing strong confidence that the
pioneering cryptocurrency would experience a dramatic surge before
the end of 2024. He predicts that Bitcoin, currently priced at
$62,371, according to CoinMarketCap, will exceed previous all-time
highs and reach $150,000. Related Reading: Can Ethereum
Reclaim $4,000? Fragile Fundamentals Threaten To Send ETH Crashing
The Fundstrat CEO disclosed earlier in April in an interview with
CNBC Television, that “Bitcoin would definitely make new all-time
highs this year,” predicting that the cryptocurrency could surge to
$150,000 in 2024, and $500,000 long term. He highlighted that
the strong demand for BTC has been fueling its price increase.
Furthermore, the integration of the Rune Protocol, a new token
standard for issuing fungible tokens on the Bitcoin network, has
also bolstered the blockchain’s network. Lee’s ambitious
forecast of Bitcoin comes at a time when the market has been
experiencing significant volatility and periods of fluctuations.
Bitcoin previously surged to an all-time high above $73,000 in
March, propelled by the hype and demand for Spot Bitcoin ETFs.
However, after Bitcoin halving on April 20, which many analysts and
investors believed would trigger another price rally, BTC witnessed
a dramatic drop, falling as low as $57,000 at some point in
May. Despite the upheaval in the broader crypto market, Lee
remains optimistic about Bitcoin’s long-term value. His unwavering
confidence in the cryptocurrency’s robust price fundamentals is
reflected in his expectations of a potential price surge to or even
exceeding half a million in the coming years. Factors Point
To Upward Momentum After FED Rate Cut While Lee made his bullish
projections about Bitcoin, he also discussed the present
inflationary situation and economic conditions of the United
States. According to the Fundstrat CEO, inflation in the US is set
to cool off dramatically, potentially triggering an upward momentum
for Bitcoin if this happens. Related Reading: Here’s How This
Ethereum Whale Made $16 Million From A Single Trade The CEO
disclosed that the Federal Reserve (FED) currently has more leeway
to cut rates, citing their impacts on the country’s banking balance
sheet. Although he refrained from specifying a precise timeline for
the drop in the US inflation rate, Lee indicated that it could
potentially occur by the second half of 2024. Overall, the
Fundstrat CEO has maintained an optimistic outlook for inflationary
pressures in the US, with Bitcoin typically serving as a hedge
against inflation and a store of value during these periods of
economic uncertainty. BTC price continues to fluctuate |
Source: BTCUSD on Tradingview.com Featured image from CNBC, chart
from Tradingview.com
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