Tom Lee Confirms Forecast of Bitcoin Hitting $150,000 in 2024

Tom Lee, who co-founded the analytical firm Fundstrat, has restated his prediction on CNBC that the first cryptocurrency will reach $150,000 by the end of 2024.

The expert initially shared this target level in January and also mentioned the possibility of Bitcoin reaching $500,000 in the next five years.

In February, Lee reaffirmed his forecast, citing the decrease in supply caused by halving and the anticipation of a relaxed monetary policy from the Fed.

This time, the analyst added that he believes there will be “buying in May” after a decline in cryptocurrency prices in April, contradicting the popular investment phrase “sell in May and go away.”

Lee also pointed out that the US economy is no longer booming, which gives the Fed room to cut interest rates. This, in turn, will benefit small-cap stocks, the tech industry, and Bitcoin, according to the expert.