Wall Street Big Bull Predicts Bitcoin Price To Hit $82K Before Further Rally

Amid Bitcoin value’s surging momentum, Tom Lee, popularly often known as the “Wall Road Large Bull,” has made a daring prediction relating to the cryptocurrency’s trajectory. Notably, Lee anticipates Bitcoin to achieve $82,000 within the close to time period, adopted by a possible surge to $150,000 by the tip of 2024.

In the meantime, his optimistic outlook comes amidst Bitcoin’s resurgence, nearing its all-time excessive and capturing the eye of buyers worldwide.

Tom Lee’s Bullish Forecast

Tom Lee, the Head of Analysis at Fundstrat, not too long ago shared his bullish perspective on Bitcoin’s future throughout a CNBC Final Name interview. Lee believes that Bitcoin is poised to return to its long-term development line, projecting a value goal of $82,000 shortly, with an extra climb to $150,000 by the tip of 2024.

In the meantime, his prediction aligns with the present optimistic sentiment prevailing out there, characterised by Bitcoin’s ongoing bull market section. Notably, Bitcoin rallied by way of the $68,000 mark in the present day and neared its all-time excessive witnessed in November 2021, earlier than witnessing a slight retreat.

In different phrases, Lee’s forecast holds significance towards the backdrop of Bitcoin’s latest value surge and nearing its earlier all-time excessive. The cryptocurrency’s market capitalization has crossed the $1.3 trillion mark, attributed to elements comparable to elevated investments in Bitcoin ETF, anticipation of the upcoming halving occasion, and heightened investor curiosity in digital property.

Additionally Learn: Louisiana Introduces Bill On Bitcoin Rights Amid BTC Price Rally To $68K

Bitcoin Worth Amid Bullish Prediction

Lee’s optimistic projection of Bitcoin reaching $150,000 by the tip of 2024 underscores the rising confidence within the cryptocurrency’s long-term potential. This forecast provides to the prevailing optimism surrounding Bitcoin’s future trajectory, fueled by latest market dynamics and favorable regulatory developments.

In addition to, the latest rally in Bitcoin, which has propelled its value near $69,000, signifies a resurgence pushed by numerous elements, together with the numerous BTC ETF inflows and anticipation of the upcoming Bitcoin halving occasion in April.

Amid this optimistic momentum, Lee’s bullish outlook additional bolsters investor confidence, paving the way in which for potential institutional inflows and broader adoption of cryptocurrencies as a viable asset class.

In the meantime, as of writing, the Bitcoin price was up 1.44% from yesterday and traded at $66,400.99, and its buying and selling quantity soared 82.34% to $75.32 billion. Alternatively, Bitcoin Futures Open Curiosity (OI) additionally surged 6.27% over the past 24 hours to 485.87K BTC or $32.39 billion.

Based on CoinGlass data, the Bitcoin OI on the CME Change topped with a 5.90% surge from yesterday, adopted by Binance and Bybit.

Additionally Learn: South Korea Mulls Spot Bitcoin ETF Approval As BTC Price Nears ATH

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Rupam, a seasoned skilled with 3 years within the monetary market, has honed his expertise as a meticulous analysis analyst and insightful journalist. He finds pleasure in exploring the dynamic nuances of the monetary panorama. At the moment working as a sub-editor at Coingape, Rupam’s experience goes past standard boundaries. His contributions embody breaking tales, delving into AI-related developments, offering real-time crypto market updates, and presenting insightful financial information. Rupam’s journey is marked by a ardour for unraveling the intricacies of finance and delivering impactful tales that resonate with a various viewers.

The introduced content material could embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability on your private monetary loss.