{"id":13324,"date":"2024-05-08T15:28:00","date_gmt":"2024-05-08T12:28:00","guid":{"rendered":"https:\/\/forklog.com\/en\/tom-lee-reaffirms-bitcoin-forecast-of-150000-by-year-end\/"},"modified":"2024-05-08T15:28:00","modified_gmt":"2024-05-08T12:28:00","slug":"tom-lee-reaffirms-bitcoin-forecast-of-150000-by-year-end","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/tom-lee-reaffirms-bitcoin-forecast-of-150000-by-year-end\/","title":{"rendered":"Tom Lee Reaffirms Bitcoin Forecast of $150,000 by Year-End"},"content":{"rendered":"<p>Tom Lee, co-founder of the analytical firm Fundstrat, reiterated his forecast on CNBC for the leading cryptocurrency to reach a price point of $150,000 by the end of 2024.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\u201cI think inflation is going to cool pretty dramatically,\u201d says Tom Lee of <a href=\"https:\/\/twitter.com\/fundstrat?ref_src=twsrc%5Etfw\">@fundstrat<\/a>. \u201cI don\u2019t know when but it\u2019ll be sometime in the second half of this year.\u201d <a href=\"https:\/\/t.co\/hPJ1niociE\">pic.twitter.com\/hPJ1niociE<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1787542792698294561?ref_src=twsrc%5Etfw\">May 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The expert first <a href=\"https:\/\/forklog.com\/en\/news\/tom-lee-predicts-bitcoin-surge-to-500000-within-five-years\">mentioned this target<\/a> in January, suggesting the possibility of Bitcoin reaching $500,000 within the next five years.<\/p>\n<p>In February, Lee <a href=\"https:\/\/forklog.com\/en\/news\/tom-lee-predicts-bitcoin-to-reach-150000-by-end-of-2024\">reaffirmed his forecast<\/a>. He cited the reduction in asset supply due to the <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-undergoes-fourth-halving\">halving<\/a> and the anticipated easing of monetary policy by the <span data-descr=\"Federal Reserve System of the United States\" class=\"old_tooltip\">\u0424\u0420\u0421<\/span> as reasons.<\/p>\n<p>This time, the analyst pointed to potential &#8220;buying in May&#8221; following a cryptocurrency sell-off in April. This contradicts the well-known investment adage &#8220;sell in May and go away.&#8221;<\/p>\n<p>Lee also noted that the U.S. economy is no longer &#8220;overheated,&#8221; providing the Fed with opportunities to cut the key rate. Such a move would support small-cap stocks, the tech sector, and Bitcoin, the expert believes.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI think inflation will decrease quite sharply. I don\u2019t know when, but sometime in the second half of the year,\u201d Lee stated.<\/p>\n<\/blockquote>\n<p>For these reasons, Fundstrat maintains a base scenario for Bitcoin to reach $150,000 in 2024, he noted.<\/p>\n<p>Lee believes that under the current circumstances, the Fed will also lower rates in the interests of regional banks, which are under significant pressure.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis harms their balance sheets. The cost of money is quite high, especially compared to the rest of the world,\u201d the analyst opines.<\/p>\n<\/blockquote>\n<p>Earlier, the ratio of call and put options on Bitcoin indicated traders&#8217; expectations of a spot price between $70,000 and $100,000 by the end of 2024, according to experts at QCP Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tom Lee, co-founder of the analytical firm Fundstrat, reiterated his forecast on CNBC for the leading cryptocurrency to reach a price point of $150,000 by the end of 2024. \u201cI think inflation is going to cool pretty dramatically,\u201d says Tom Lee of @fundstrat. \u201cI don\u2019t know when but it\u2019ll be sometime in the second half [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1146,1138,919],"class_list":["post-13324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-market-forecasts","tag-opinions","tag-tom-lee"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=13324"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/13324\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/13323"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=13324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=13324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=13324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}