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