Amid Bitcoin price’s surging momentum, Tom Lee, popularly known as the “Wall Street Big Bull,” has made a bold prediction regarding the cryptocurrency’s trajectory. Notably, Lee anticipates Bitcoin to reach $82,000 in the near term, followed by a potential surge to $150,000 by the end of 2024.
Meanwhile, his optimistic outlook comes amidst Bitcoin’s resurgence, nearing its all-time high and capturing the attention of investors worldwide.
Tom Lee’s Bullish Forecast
Tom Lee, the Head of Research at Fundstrat, recently shared his bullish perspective on Bitcoin’s future during a CNBC Last Call interview. Lee believes that Bitcoin is poised to return to its long-term trend line, projecting a price target of $82,000 shortly, with a further climb to $150,000 by the end of 2024.
Meanwhile, his prediction aligns with the current positive sentiment prevailing in the market, characterized by Bitcoin’s ongoing bull market phase. Notably, Bitcoin rallied through the $68,000 mark today and neared its all-time high witnessed in November 2021, before witnessing a slight retreat.
In other words, Lee’s forecast holds significance against the backdrop of Bitcoin’s recent price surge and nearing its previous all-time high. The cryptocurrency’s market capitalization has crossed the $1.3 trillion mark, attributed to factors such as increased investments in Bitcoin ETF, anticipation of the upcoming halving event, and heightened investor interest in digital assets.
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Bitcoin Price Amid Bullish Prediction
Lee’s optimistic projection of Bitcoin reaching $150,000 by the end of 2024 underscores the growing confidence in the cryptocurrency’s long-term potential. This forecast adds to the prevailing optimism surrounding Bitcoin’s future trajectory, fueled by recent market dynamics and favorable regulatory developments.
Besides, the recent rally in Bitcoin, which has propelled its price close to $69,000, signifies a resurgence driven by various factors, including the significant BTC ETF inflows and anticipation of the impending Bitcoin halving event in April.
Amid this positive momentum, Lee’s bullish outlook further bolsters investor confidence, paving the way for potential institutional inflows and broader adoption of cryptocurrencies as a viable asset class.
Meanwhile, as of writing, the Bitcoin price was up 1.44% from yesterday and traded at $66,400.99, and its trading volume soared 82.34% to $75.32 billion. On the other hand, Bitcoin Futures Open Interest (OI) also surged 6.27% over the last 24 hours to 485.87K BTC or $32.39 billion.
According to CoinGlass data, the Bitcoin OI on the CME Exchange topped with a 5.90% surge from yesterday, followed by Binance and Bybit.
Also Read: South Korea Mulls Spot Bitcoin ETF Approval As BTC Price Nears ATH
The post Wall Street Big Bull Predicts Bitcoin Price To Hit $82K Before Further Rally appeared first on CoinGape.
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