Bitcoin’s entry in July 2024 didn’t meet expectations. Last month, the king coin dropped from a trading high of $67,000 to $59,000. After the Mt.Gox payments became public, this drop occurred. The market anticipated a rebound in BTC after the recent slump. At the time of publication, Bitcoin was currently trading at $62,439 after a drop of 1.19% over the past 24 hours. Will Bitcoin experience a sudden upswing toward $150,000? Or will it continue its downward spiral?
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/07/Bitcoin-To-Hit-150000-Fundstrats-Tom-Lee-Confirms.jpeg)
Bitcoin bulls bet large on Bitcoin despite the current market’s gloomy mood. Tom Lee was the director of Fundstrat’s research and he predicted that BTC would reach a peak of $150,000. Analysts believe that BTC’s price will rise to a “sharp” The second half of this year will see a recovery. Lee stated that it will be difficult for the Fed to maintain its current strict monetary policies in the future.
Also Read: Bitcoin (BTC): Analysts Predict ‘Bullish July’ After 7% Fall in June
Mt. Gox: A hindrance to Bitcoin’s rise?
As a possible result of selling pressure by creditors of now defunct cryptocurrency Mt. Gox. Lee seems unfazed by Mt. Gox FUD. Fundstrat’s research director called it a “huge overhang.” This expert believes that Bitcoin bulls will benefit from this new development.
What is the maximum Bitcoin price that can be expected to rise this year??
Changelly has predicted that Bitcoin’s minimum price in 2024 is $60,295.93. BTC could reach a price as high at $70,385.07. The average trading price is expected to be around $80.474.21. While Tom Lee’s predictions were far from reality, many investors have continued to make big gains.
Also Read: Solana (SOL) Surges 800% This Year, Outpacing Bitcoin & Ethereum
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru