Financial research firm Fundstrat Global Advisors' analysis suggests Bitcoin could rise to $250,000 by 2024. Various contributing factors are discussed.
Tom Lee: Bitcoin Bull Run Has Begun
Co-founder and head of research at Fundstrat Global Advisors Tom Lee expressed optimism about Bitcoin's future. In a conversation with SkyBridge Capital CEO Anthony Scaramucci, he stated that Bitcoin could reach a quarter of a million dollars in 2024, driven by cycles related to mining reward reductions.
$150,000 Surge Possible
Trader Dave The Wave suggested that Bitcoin would need little effort to achieve a price of $150,000. This could occur if it repeats its performance from October 2023 to March 2024, during which it grew by 186%.
Potential Influence of US Administration
Lee noted that the incoming US administration under Donald Trump could significantly legitimize Bitcoin by including it in its strategic reserves. This move parallels MicroStrategy's experience in adding Bitcoin as a balance-sheet asset, which yielded significant value for shareholders.
Despite the optimistic forecasts, investors should remain cautious, as investing in cryptocurrencies always involves risks.
