Famous Wall Street personality Tom Lee, often nicknamed the “Big Bull,” made some striking predictions for the future of Bitcoin. Lee's forecast includes a short-term rise to $82,000 and a more ambitious rise to $150,000 by the end of 2024.
Lee's Bold Bitcoin Predictions
In a recent interview with CNBC, Tom Lee, Head of Research at Fundstrat, shared his optimistic view on Bitcoin's trajectory. He believes Bitcoin will follow its long-term trend, reaching $82,000 soon and aiming for $150,000 in the coming years.
Lee's optimistic outlook coincides with current market sentiment, especially as Bitcoin approaches its previous all-time high. Despite a slight pullback, Lee's predictions are gaining credibility amid the resurgent Bitcoin rally.
Meanwhile, the cryptocurrency's market cap has surpassed $1.3 trillion, driven by factors including increased investment in Bitcoin ETFs, anticipation of the upcoming halving, and growing interest from investors.
BTC leads OI
Lee's forecast is not just a prediction; this inspires confidence, potentially paving the way for increased institutional interest and wider adoption of cryptocurrency.
According to CoinGlass data, the CME Exchange is leading in Bitcoin open interest, enjoying a Increase of 5.90% from yesterday. This puts it ahead of other platforms like Binance and Bybit.
Bitcoin Market Status
Currently, Bitcoin is trading at around $66,849.99, an increase of 1.44%. Additionally, its trading volume jumped 82.34% to $75.32 billion, with Bitcoin Futures Open Interest increasing 6.27% to 485.87k BTC, or $32.39 billion.
However, Lee's bullish outlook goes beyond a simple prediction. This catalyzes increased investor confidence, potentially opening the door to greater institutional flows.