Tom Lee predicts Bitcoin price will reach $150K in 2024, considering it as the most likely scenario.

Bitcoin (BTC) is set to reach $150,000 by 2024, according to well-known cryptocurrency market commentator Tom Lee. During an interview on CNBC in May, Lee, who is the managing partner and head of research at Fundstrat Global Advisors, shared his latest bullish prediction for BTC’s price. He reiterated that Fundstrat sees a “base case” scenario where BTC reaches a six-figure price by 2024. Lee believes that Bitcoin is still in the early stages of an upward trend, making the idea of it reaching $150,000 this year plausible. This price would be double the current all-time highs that were reached in March. Lee justified his prediction by pointing to macroeconomic changes happening in the United States. He noted that the Federal Reserve’s language regarding interest rate cuts is more dovish than what the market expects, and this is one of the reasons why the markets are recovering. While some of Lee’s previous BTC price predictions have not come true, he emphasized that being long on BTC has paid off in the long run. As of May 23, BTC/USD was trading at around $70,000, up 15% for the month. The latest estimates from CME Group’s FedWatch Tool indicate that the markets believe a rate cut is most likely at the Fed’s September meeting. The minutes of the May meeting of the Federal Open Market Committee also highlighted that maintaining the current restrictive policy stance for longer is an option if inflation does not show signs of moving towards 2%. This article is not intended to provide investment advice or recommendations, and readers should conduct their own research before making any decisions.