Renowned Wall Street figure Tom Lee, often known as the “Big Bull,” has made some striking forecasts for Bitcoin’s future. Lee’s forecast includes a short-term surge to $82,000 and a more ambitious climb to $150,000 by the end of 2024.
Lee’s Bold Bitcoin Predictions
In a recent interview with CNBC, Tom Lee, who serves as the Head of Research at Fundstrat, shared his optimistic perspective on Bitcoin’s trajectory. He believes Bitcoin will follow its long-term trend, hitting $82,000 soon and aiming for $150,000 in the coming years.
Lee’s optimistic outlook coincides with the current market sentiment, especially as Bitcoin edges closer to its previous all-time high. Despite experiencing a slight pullback, Lee’s predictions gain credibility amid Bitcoin’s resurging rally.
Meanwhile, the cryptocurrency’s market cap has surpassed $1.3 trillion, driven by factors like increased Bitcoin ETF investments, anticipation of the upcoming halving, and growing investor interest.
BTC Leads In OI
Lee’s forecast isn’t just a prediction; it instills confidence, potentially paving the way for increased institutional interest and broader cryptocurrency adoption.
According to data from CoinGlass, the CME Exchange leads in Bitcoin Open Interest, boasting a 5.90% surge from yesterday. This places it ahead of other platforms like Binance and Bybit.
Bitcoin Market Status
As of now, Bitcoin trades at around $66,849.99, marking a 1.44% increase. Moreover, its trading volume surged by 82.34% to $75.32 billion, with Bitcoin Futures Open Interest rising 6.27% to 485.87K BTC or $32.39 billion.
However, Lee’s bullish outlook goes beyond being a mere prediction. It catalyzes increased investor confidence, potentially opening the door to greater institutional inflows.
