Fundstrat’s managing companion Tom Lee is predicting a large six-figure worth for Bitcoin (BTC) this yr.
In a brand new CNBC interview, Lee says that he sees Bitcoin reaching as excessive as $150,000 in 2024, a greater than 230% improve from its present worth.
He additionally believes that there could also be an rising demand for the highest digital asset within the coming years that might ship Bitcoin’s value even greater.
Says Lee,
“I feel within the subsequent 12 months, one thing over $100,000, perhaps $150,000. And within the subsequent 5 years, there’s a finite provide and now now we have a probably large improve in demand with a spot Bitcoin [exchange-traded fund] approval, so I feel in 5 years, one thing round $500,000 can be probably achievable.”
Bitcoin is buying and selling for 45,428 at time of writing, down almost 3% within the final 24 hours.
Lee can be bullish on US shares this yr and predicts the most important inventory beneficial properties will come within the second half of 2024.
“I feel 2024 goes to in the end be a superb yr for shares as a result of we’ve obtained a Fed that’s now not combating an inflation warfare. And we all know that the ISM Manufacturing, these PMIs (buying managers’ indexes) are bottoming and that’s correlated with earnings starting to speed up. And we all know there’s pent-up CapEx (capital expenditures). Capital spending has been type of held again for the previous few years, in order that accelerates, that’s good for earnings. And we anticipate mortgage charges to fall, which might be good for shoppers. So, it’s actually going to be a superb yr for shares.
However the caveat being the primary six months are most likely just a little more difficult as a result of within the first six months, traders are going to be just a little itchy or anxious for the Fed to do their first minimize, and that uncertainty goes to weigh on shares and on the similar time it’s going to convey again those that are fearful inflation rears up. So I feel it’s a superb yr general, however a lot of the beneficial properties come within the second half.”
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