Fundstrat’s Tom Lee On Why Bitcoin Price Is Due To Hit $150,000 This Year

Fundstrat’s Tom Lee On Why Bitcoin Price Is Due To Hit $150,000 This Year
фото показано с : zycrypto.com

2024-7-3 17:09

Bitcoin (BTC) is on track to hit as high as $150,000 by the end of this year, Fundstrat managing partner and head of research Tom Lee thinks.

In his latest appearance on CNBC, Lee said that BTC/USD is poised to rebound strongly in the second half of 2024.

Lee Reiterates $150,000 BTC Price Target

Ten and a half years after filing for bankruptcy, the defunct crypto exchange Mt. Gox is finally set to disburse 142,000 Bitcoin worth around $9 billion to creditors between July and October.

News that Mt.Gox plans to distribute BTC to the 2014 hack victims sparked concerns the creditors would sell once they had their payouts, creating a supply overhang in the market. Expectations of the upcoming selling pressure sent Bitcoin spiraling down, briefly driving it below $60,000 for the first time since early May.

Veteran crypto market commentator Tom Lee, however, is seemingly unperturbed by the Mt.Gox FUD (fear, uncertainty, and doubt). Lee believes the multi-years-long saga was a “huge overhang” over the crypto market. 

According to the Fundstrat executive, this headwind will no longer be relevant, which augurs well for the Bitcoin price. This is why he is not taking the $150,000 price target off the table.

BTC Set For Rebound Rally

Lee sees a “sharp” rebound in the second half of 2024. The former JPMorgan equity strategist believes the Federal Reserve will not maintain its dovish pivot for a long time.

He further observed that the premier cryptocurrency often makes most of its gains within 10 days every year. If you take out the 10 best days in a single year, Bitcoin has negative returns, Lee opined.

Lee is well known in crypto circles for his uber-bullish BTC price forecasts, some of which never come true. For instance, Lee forecasted that the flagship crypto would hit $200,000 in 2022. Bitcoin instead slipped into a prolonged bear market. 

Notably, other prominent analysts are also optimistic. Bitcoin maxi Fred Krueger posited in a July 1 X post that the price of Bitcoin could double between now and the end of 2024. “No more turtle nonsense,” he asserted.

Bitcoin was trading at $62,567 at publication time. Although BTC’s price has recovered from its weekly low below $60,000, it is still down 15.2% from its all-time high of $73,737, set in March.

origin »

Bitcoin (BTC) на Currencies.ru

$ 101803.9 (+0.32%)
Объем 24H $45.11b
Изменеия 24h: -0.23 %, 7d: -4.01 %
Cегодня L: $100265.71 - H: $101911.61
Капитализация $2017.378b Rank 1
Цена в час новости $ 61014.7 (66.85%)

150 hit fundstrat year lee tom bitcoin

Источник: zycrypto.com

150 hit → Результатов: 89


September Surprise? Bitcoin Could Hit $150,000 If History Repeats – Veteran Trader

Crypto investors are eagerly awaiting the next chapter in Bitcoin’s story, and this veteran trader just offered a potential plot twist. Related Reading: Crypto Crime Busters: China, UAE Vow To Combat Telecom Fraud And Online Gambling In his analysis, Peter Brandt suggests Bitcoin could gallop towards a record-breaking peak of $130,000 to $150,000 by late […]

2024-6-3 16:00


Rollblock Presale Records Impressive Performance Amid Monero Price Surge and Binance Coin’s Social Media Interest

Monero’s price outlook seems optimistic, with signs of a continuing bullish trend that might soon see the coin hit the $150 mark. However, amid the positive price prediction for Monero, Binance Coin seems to have captured the attention of many, recording an impressive surge in social media dominance while eyeing the $700 mark by June […] The post Rollblock Presale Records Impressive Performance Amid Monero Price Surge and Binance Coin’s Social Media Interest appeared first on CoinJournal.

2024-6-3 11:41


Analyst Who Predicted ETH Price Will Hit $4,000 Now Thinks Algotech Will Become Best Presale of 2024

Ethereum has been one of the best-performing blockchains this year. In March 2024, the project breached its local top of $4,018.53, which is up over 150% from its price in the previous year. While this came as a surprise to the broader crypto community, one analyst predicted this at the bottom of the bear market […] The post Analyst Who Predicted ETH Price Will Hit $4,000 Now Thinks Algotech Will Become Best Presale of 2024 appeared first on CaptainAltcoin.

2024-3-19 11:30


Why Injective’s (INJ) Price Pump Is Only a Product of Market Makers’ and Influencers’ Manipulation Rather Than Real Fundamentals

Cryptocurrency trader Miya raises concerns about coordinated manipulation driving INJ’s 150% price spike over recent weeks. She points to suspicious exchange order flow data showing massive buying pressure from 2-3 AM UTC a few days ago during Bitcoin’s flash crash, allowing INJ to hit all-time highs.

2023-12-15 20:30


Bitcoin To Hit $150,000 By 2025, Financial Brokerage Firm Says – But How?

Bitcoin (BTC) enthusiasts have long been known for their bullish predictions, but a recent report from brokerage firm Bernstein is adding weight to their claims. The report suggests that Bitcoin’s historical price movements, particularly its relationship with halving events, make the prediction of a $150,000 price tag by 2025 not as far-fetched as it may […]

2023-11-2 20:00


Число пользователей Binance преодолело отметку в 150 млн

Генеральный директор криптобиржи Binance Чанпэн Чжао сообщил о преодолении отметки в 150 млн пользователей на платформе.  This week at #Binance (so far): — Binance Japan officially launched— Binance secured an Operational MVP License in Dubai (first exchange in the world to do so)— 2x new Binance Launchpools — $CYBER & $SEI— Hit 150M registered Binance […]

2023-8-4 17:55


Genies company raises $150 million to become a Unicorn

Los Angeles-based Genies raised $150 million in the latest funding round to hit a valuation of $1 billion, establishing Genies as a unicorn startup.  Genies: The Genesis Genies is one of the world’s leading startups in digital avatar technology, and the Los-Angeles based company is shaping the leading edge of Metaverse by empowering individuals to […] The post Genies company raises $150 million to become a Unicorn appeared first on NFT News Today.

2022-4-14 12:16


Фото:

JPMorgan Says Bitcoin’s Fair Value Is $38K… But It Still Expects BTC To Eventually Hit $150,000

The bitcoin price has recaptured the $44K level after last month’s precipitous fall that rocked both the crypto and stock markets. Now, multinational investment banking giant JPMorgan Chase has renewed its prediction that the premier cryptocurrency could more than double to around $150,000 in the long term but has suggested that bitcoin’s current fair value […]

2022-2-9 21:57


Фото:

El Salvador uses Bitcoin price drop to get another 150 BTC

El Salvador, a small country that made a lot of noise earlier this year by accepting Bitcoin as legal tender, is using every opportunity it can get to acquire more coins. While many around the world are troubled by the recent 20% price drop that hit Bitcoin (BTC/USD) earlier today, El Salvador saw it as […] The post El Salvador uses Bitcoin price drop to get another 150 BTC appeared first on Invezz.

2021-12-5 17:04


How BNB Went 3x In One Week (And Why This Probably Isn’t The Top Yet)

Binance Coin (BNB), the native token of Binance, just had its best week ever. On February 2, BNB hit $50 for the first time ever, which was its all-time high (ATH) back then. A week later, on February 10, the cryptocurrency grew to as high as $148, marking a rise of more than 150% for … Continued The post How BNB Went 3x In One Week (And Why This Probably Isn’t The Top Yet) appeared first on BeInCrypto.

2021-2-12 15:02


дальше еще 40 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Forming Massive Falling Wedge Chart Pattern, A Bullish Signal For An Uptrend?

Bitcoin‘s price has demonstrated remarkable performance in the last few days, revisiting the pivotal $100,000 threshold. With the general crypto market recovery strong following recent news about Donald Trump’s inauguration as the new president of the United States, BTC could muster enough momentum to reclaim its current all-time high.

Analysts Predict Bitcoin Could Hit $250,000 In 2025 Amid Capital Inflows

Bitcoin (BTC) exhibited a strong rally on Wednesday, spearheading a market surge as the total cryptocurrency market capitalization rose 3. 82% to $3. 49 trillion within 24 hours. The surge comes amid heightened optimism within the cryptocurrency community, fueled by anticipation of policy reforms under the upcoming U.