Fundstrat Global Advisors’ Managing Partner and Head of Research, Tom Lee, recently predicted in an interview that Bitcoin (BTC) will perform well in the remaining time until 2024, with the possibility of reaching $150,000 this year.
In a recent interview with CNBC, Tom Lee mentioned one reason for his bullish outlook on Bitcoin is the resolution of the Mt.Gox bankruptcy. The Mt.Gox trustee announced last month that the exchange will start repaying creditors in Bitcoin and Bitcoin Cash (BCH) from early July this year. According to data from the on-chain intelligence platform Arkham, Mt.Gox wallets collectively hold about 141,000 bitcoins (valued at $8.93 billion), with concerns in the past about the potential negative impact of this event on Bitcoin.
Tom Lee stated on CNBC:
In January of this year, Tom Lee suggested that the approval of Bitcoin exchange-traded funds (ETFs) could significantly increase demand for Bitcoin. At that time, he predicted that Bitcoin’s price could surpass $100,000 this year, possibly reaching $150,000. As of the time of this writing, the trading price of Bitcoin is around $63,000, with a year-to-date increase of approximately 48%.
Tom Lee also predicted during the interview that the overall stock market will be higher by the end of this year compared to current levels, but he believes that the second half of the year may not see as strong gains as the first half. He stated:
Source: CNBC