Fundstrat Global Advisors Chief Investment Officer Tom Lee confidently predicted in a forecast that Bitcoin will close “well above $100,000” before the end of 2024.
Speaking on CNBC, Lee touched on the growing momentum in the cryptocurrency market despite recent price hesitations around six-figure figures.
Lee pointed to the limited supply of Bitcoin on over-the-counter exchanges as a key factor driving this potential surge. He suggested that the limited supply could lead to a “big chase” as prices rise, creating further upward pressure. While he acknowledged that the psychological resistance is at $100,000, he said he was optimistic that Bitcoin could break out decisively in the next four weeks.
That bullish sentiment also aligns with Lee’s broader outlook for financial markets. Lee also predicted a year-end rally for the SP 500, potentially reaching 6,300 points. Lee cited favorable seasonality, falling bond yields, contrarian market sentiment and supportive fiscal and monetary policies as driving factors.
*This is not investment advice.
