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Tom Lee: Bitcoin can be price $150,000 by the top of the 12 months

Tom Lee

Co-founder of funding agency Fundstrat Thomas Lee advised that Bitcoin will peak at $150,000 in 2024 as a result of April halving and excessive demand for spot cryptocurrency ETFs.

Thomas Lee held senior positions within the largest American banking firm JP Morgan Chase and the funding firm Salomon Smith Barney. During an interview with CNBC, Lee expressed confidence that BTC will be capable of triple its present market worth this 12 months, with the primary cryptocurrency at the moment buying and selling at over $51,000.

Bitcoin has been known as “sound money” and an efficient retailer of worth. According to Lee, the premier cryptocurrency has top-of-the-line anti-fraud expertise infrastructures on the planet. Lee careworn that because the emergence of Bitcoin in January 2009, not a single fraudulent entry has appeared on this block chain.

The monetary skilled defined that it will be straightforward for Bitcoin to succeed in $150,000 because of the rising demand for it as a result of emergence of exchange-traded funds (ETFs). The halving will definitely be one other catalyst for Bitcoin's progress. The reward for the steel is halved each 4 years, thus sustaining the coin's shortage and combating inflation. After the halving in April, fewer new BTC cash can be launched into circulation, rising their worth.

Previously, Thomas Lee outlined a constructive future for cryptocurrencies. According to his forecast, cash will movement from shares and bonds to cryptocurrencies. At the start of the 12 months, the founding father of Fundstrat advised that inside 5 years Bitcoin can be buying and selling at $500,000.

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