Fundstrat CEO Predicts Bitcoin to Skyrocket to $150,000 by 2024

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The indomitable CEO of Fundstrat, Thomas Jong Lee, is holding firm to his bullish optimism about Bitcoin, the reigning king of the cryptocurrency arena. Despite the current volatile climate of the digital market, Lee forecasts a potential mammoth surge in Bitcoin’s price. His prediction? The cryptocurrency could double over its present value and ascend to a staggering $150,000 during the 2024 market cycle.

Recently, Lee broadcasted his steadfast resolution on Bitcoin’s future prospects on Squawk Box, CNBC’s morning news program on May 7. Doubling down on his prior forecast, he projected that the pioneer cryptocurrency is poised for an unprecedented surge by year-end 2024.

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As of now, Bitcoin exchanges at approximately $62,371, according to the market analytics of CoinMarketCap. Nonetheless, Lee is convinced that the cryptocurrency will scale new heights and shatter previous records to knock on the $150,000 door.

Previously, during an April appearance on CNBC Television, Lee had expressed his unyielding belief in Bitcoin’s potential to create fresh records this year. He asserted, “Bitcoin would definitely make new all-time highs this year.” Reiterating his audacious prediction later in the conversation, he then went on, with a stark confidence, to foretell that Bitcoin could soar to the monumental heights of $150,000 in 2024 and eventually to $500,000 in the long-term scope.

Lee believes that the fierce demand for BTC drives its price elevation. Also, he noted that the implementation of the Rune Protocol – a novel token standard for releasing fungible tokens on the Bitcoin network – has significantly fortified the blockchain network.

Lee’s bold prophecy arrives at a juncture when the market is ensnared in bouts of considerable volatility and fluctuation. In March, Bitcoin saw a surge to an all-time zenith of $73,000 – a feat accomplished primarily due to the market frenzy created by Spot Bitcoin ETFs.

Yet in a stark contrast on April 20, Bitcoin crashed drastically following a halving event that left countless investors and analysts predicting another rally. The cryptocurrency came perilously close to falling to as low as $57,000 at certain points in May.

However, Lee continues to hold an unwavering optimism about Bitcoin’s sustainability in the long run, even in the face of such seismic value disruptions. Such staunch belief in Bitcoin’s strong price fundamentals fuels his expectations of a potential swell to, or even beyond, half a million dollars in the upcoming years.

As part of his bullish assertions about Bitcoin, Lee also touched on the current state of inflation and economic environment in the United States. Lee believes that U.S inflation rates are on the brink of a substantial cooldown. This, according to him, could potentially result in an upward traction for Bitcoin’s value.

The much-respected CEO divulged that the Federal Reserve (FED) has amassed enough slack to institute rate cuts, hinting at their significant implications on the U.S banking balance sheet. While Lee abstained from earmarking a specific timeline for this drop in U.S inflation, he hinted at the possibility of it happening by the latter half of 2024.

Despite the roller-coaster ride that the crypto market is currently experiencing, Lee holds on to an overwhelmingly positive outlook on future inflation dynamics in the United States. In his opinion, Bitcoin usually shields its investors as a hedge against inflation, meaning that during these periods of economic uncertainty, the cryptocurrency serves as a store of value.

The quest for the golden mountaintop of $500,000 Bitcoin continues. As the value of Bitcoin waves up and down on the Tradingview.com market chart, Thomas Jong Lee’s conviction remains unscathed. Only time will tell if these forecasts hold their merit, or if they’ll be tossed away as overzealous prophecy.