Analyst names reasons why bitcoin will rise to $ 150,000 in 2024

FundStrat’s Head of Research Tom Lee has made a big forecast for the bitcoin price in 2024. The analyst said that the asset will more than double from its previous historical high.

Speaking on the Squawk Box program on CNBC, Tom Lee said that this year the price of BTC $94,375.18 Bitcoin -0.02% Market capitalization $1.87 trillion VOL. 24 hours $3.09 billion will reach $ 150,000. Lee cited three reasons for his bold price forecast, which implies a 190% increase in the asset from its current level.

«Demand is growing due to new ETFs, supply is shrinking due to the halving of the dollar, and if monetary policy eases, we expect a favorable period for risk assets ,» he said.

Asked about the performance of the T-bills over the next five years, he said: «It's safe money, and I think it will prove to be useful.»

«It's a great store of value, it’s a good high-risk asset, and it’s also incredibly safe, there hasn’t been a single fraudulent entry on the blockchain since it was created, and I don’t think any bank can say the same for its accounting,» Tom Lee emphasized.