Bitcoin

The post <a href="https://coinpedia.org/news/tom-lees-bitcoin-price-prediction-2024-btc-price-to-hit-150000-by-year-end/" rel="noopener noreferrer nofollow">Tom Lee’s Bitcoin Price Prediction 2024: BTC Price To Hit $150,000 by Year-End</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
In an interview with CNBC, Tom Lee, co-founder and head of research at Fundstrat Global Advisors, has reminded investors holding over $6 trillion in cash to adopt the Bitcoin (BTC) way. Lee reiterated his end-of-year (EOY) Bitcoin price prediction of $150,000, fueled by global macroeconomic fundamentals.&nbsp;
According to Lee, investors seeking a 5 percent yearly return from the S&amp;P500 will have to change their investment strategy by the end of this year.
“I think the end of this year will be a day of reckoning for those sitting on cash, earning 5%,” Lee <a href="https://x.com/squawkcnbc/status/1807759499383464264?s=46" rel="noopener noreferrer nofollow">said</a>.&nbsp;
Lee added that the Bitcoin price will outshine the ongoing Mt.Gox funds distribution after registering over 50 percent return year-to-date. Moreover, amid the highly contested general elections, the Fed is expected to cut its benchmark interest rates later this year.
<h2 class="wp-block-heading" id="h-market-picture">Market Picture</h2>
As the crypto market sellers get overly exhausted, Bitcoin price is back above a crucial support level. According to an analysis provided by IntoTheBlock, of the Bitcoin addresses active in the past day, around 237k have acquired their BTCs between $61k and $62.6k, thus showing significant demand in the current price range.
After closing above $62k for the first time in the six-month candlestick, Bitcoin price is well positioned to rally further in the coming quarters.&nbsp;
Meanwhile, the crypto market is largely focused on the upcoming listing of spot Ether ETFs, which is expected to trigger a fresh cash inflow to the altcoin industry.
From a bigger perspective, the altcoin market could register much higher returns than Bitcoin in the second half of 2024. Moreover, Bitcoin dominance is on the cusp of a major reversal, triggering heightened crypto cash rotation.

Tom Lee’s Bitcoin Price Prediction 2024: BTC Price To Hit $150,000 by Year-End

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