BitcoinBTCCryptocurrency EducationIndustry AnalysisNews

Bitcoin Price Prediction : BTC Price Poised To Hit $150K in Next 12 Months – Predicts Tom Lee

1 Mins read

The recent approval of spot Bitcoin ETFs by the Securities and Exchange Commission (SEC) has sparked significant interest within the cryptocurrency community, creating anticipation for a potential surge in Bitcoin prices. Despite the excitement, the market has experienced relatively modest movements, with Bitcoin trading at $45,729.

Bitcoin Price over 12 months

During a CNBC interview, Tom Lee, co-founder of Fundstrat Global Advisors, shared an exceptionally bullish forecast for Bitcoin. Lee predicts a remarkable rise to $150,000 within the next 12 months and an even more staggering $500,000 within five years. This optimistic outlook is grounded in Lee’s analysis of Bitcoin’s finite supply and the anticipated surge in demand.

In contrast to his upbeat Bitcoin predictions, Lee foresees challenges for the stock market in the first half of 2024, attributed to uncertainties surrounding Federal Reserve policy decisions. While expressing optimism about Bitcoin, he notes the potential risks associated with broader economic factors, estimating a relatively low but significant 20% chance of a recession. He further stresses the importance of monitoring economic indicators, particularly inflation trends and the Federal Reserve’s approach to monetary policy.

ETF Approval Impact on the Market

Despite Lee’s positive outlook for Bitcoin, some analysts caution that the impact of approved Bitcoin ETFs on market prices may be gradual. Bloomberg Intelligence suggests that up to $4 billion could flow into Bitcoin ETFs on their first day of trading, potentially influencing prices to reach $50,000-$57,000 by the end of the week, based on the Bank of America Bull Market Multiple.

While the approved Bitcoin ETFs are considered a positive development for the cryptocurrency industry, the immediate impact on market prices is expected to unfold gradually but substantively.

What do you expect from the Bitcoin price in 2024?


1409 posts

About author
Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
Related posts

Indonesia's presidential elections pose uncertainty for the thriving cryptocurrency industry

1 Mins read
Indonesia, has emerged as a formidable player in the global cryptocurrency space in recent years. However, the nation’s upcoming general elections in…

Understanding the Cryptocurrency Boom - Dogecoin Climbs Due to X Payment Integration, While Stellar and BNB Also Experience Growth

1 Mins read
The cryptocurrency market has been experiencing notable gains over the past few days. This is led by an unexpected and surprising spike…

Crypto Entrepreneur Charged with Defrauding Investors Out Of $150 Million Through Marketing Scheme

1 Mins read
Federal prosecutors have charged a German businessman with securities fraud, wire fraud and money laundering for allegedly scamming over 150 investors out…

🚀 Ailtra Crypto Bot Earned $8.9M Million in 7 Months with 0% Loss!

🚀 Ailtra generated $7.4 in 7 months only!

Unlock 20-75% Monthly Returns & Get $100 FREE!

Meet Ailtra Bot! Launching on 31st March an AI Crypto Bot boasting 20%-75% monthly gains and $7.5M earnings in 7 months. 💸Secure a FREE $100 bonus and up to $20K potential via referrals every month. 🎉Only 1,000 spots are available in first phase – claim yours fast! 🔥 will not disclose your account information to any 3rd parties.