Thomas Jong LeeFundstrat is an independent fund management company. The CEO of Fundstrat is a Chief Executive Officer. financial The research firm has maintained its bullish position on Bitcoin. The financial Analyst predicted It is possible that the price of Bitcoin, currently the biggest cryptocurrency in existence, could increase by a factor of two. reach $150,000 During the 2024 cryptocurrency market cycle.
Bitcoin Prices Could Soar in 2024
A recent study found that the majority of people are not aware of how to use their smartphones. interview Lee repeated his earlier statements on Squawk Box on CNBC, May 7. Bitcoin forecastHe expressed his strong belief that Bitcoin, the first cryptocurrency to be launched in 2008, would see a significant surge by the year 2024. He believes that Bitcoin will continue to grow. priced at $62,371According to CoinMarketCap the value of Bitcoin will surpass previous highs, and it could reach as much as $150,000.
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Fundstrat’s CEO disclosed I told CNBC Television in an earlier interview in April that “Bitcoin would definitely make new all-time highs this year,” The cryptocurrency market is expected to reach $150.000 in 2024. $500,000 Long term.
He highlighted the fact that strong demand for BTC The price of the product has increased. Integration of the Rune ProtocolThe blockchain network has been strengthened by a new standard of tokens that can be used to issue fungible tokens.
Lee’s bold prediction of Bitcoin is made at a moment when the Bitcoin market is experiencing a period of volatility. significant volatility Bitcoin has experienced periods of volatility. Bitcoin has previously surged in price to an all-time high The hype around the new iPhone X drove sales to $73,000 in march. Spot Bitcoin ETFs.
However, after Bitcoin halving Many analysts and investors are predicting that the 20th of April will be a big day for them. believed BTC experienced a price rise that was able to trigger another rally. dramatic dropAs low as $57,000 in some points of May.
Lee, who is a Bitcoin enthusiast, remains positive about the value of Bitcoin in the future despite recent changes to the crypto-market. He is confident in the robust fundamentals of the crypto currency’s price, and expects a possible price spike to reach or exceed half a billion dollars within the next five years.
Factors Point To Upward Momentum After FED Rate Cut
Lee also talked about the current situation, while making his optimistic predictions for Bitcoin. inflationary situation Economic conditions in the United States. Fundstrat CEO says that the US inflation rate is expected to drop dramatically. This could trigger an increase in interest rates. upward momentum for Bitcoin What if it happens?
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The CEO has disclosed that the Federal Reserve (FED) In the current environment, there is more room to lower rates because of their impact on the banking system in Canada. Lee did not give a specific timeline, but he indicated it might happen by 2024.
Fundstrat’s CEO, Mark Zuckerberg, has generally maintained a positive outlook on inflationary pressures within the US. Bitcoin is typically used as an indicator. hedge against inflation A store of value In these times of economic instability,
Source| Source: BTCUSD on Tradingview.com
Featured picture from CNBC. Chart by Tradingview.com
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