Fundstrat Analyst Tom Lee Predicts Bitcoin May Reach $150K in 2024
Despite Lee’s positive outlook for Bitcoin, not all analysts share his unbridled optimism.
Despite Lee’s positive outlook for Bitcoin, not all analysts share his unbridled optimism.
Renowned crypto analyst is advising investors to still invest in Bitcoin.
Dow Jones, S&P 500, and Nasdaq Composite all surged between 10-12% during the month of November as markets remained upbeat on positive news of vaccine rollout. Analysts expect the market to continue its run ahead in December and end 2020 on a strong note.
The crypto market played out well on March 19-20 amid the market crash, with Bitcoin (BTC) surging by almost 15% to climb back above $6,500.
Fundstrat’s Tom Lee said that the price of Bitcoin could surge to $500,000 in the long term, but he failed to mention the exact timeline for such a pie-in-the-sky target to be achieved.
In recent news, Thomas Lee, the co-founder of Fundstrat, tweeted a reminder to all the crypto enthusiasts and traders that the majority of Bitcoin gains come from the rule of 10 best days.
Bitcoin price has climbed back above $10,000, just days before Bakkt officially launches. Could back be the long-awaited Bitcoin savior? Will we see another all-time high before 2019 is over?
Popular Bitcoin Bull and Fundstrat exec Tom Lee, has said that there is a correlation between the equity market and the Bitcoin market. Lee says that Bitcoin with reach a new all-time high after the S&P 500 stock does as well.
Weaker USD may be good news for Bitcoin price which could pick up more because of the quarter-percent rate cut. The move has been seen as preventative by economists but could also be a catalyst for the next financial crisis.
Bakkt Digital Asset Summit highlighted important developments in the launch of Bakkt Bitcoin Futures, which beta release is expected today. CFTC commissioner Dawn Stamp acknowledged the high demand for the derivative product.