Bitcoin to Soar to $150,000 by 2024

Tom Lee, the head of research at Fundstrat, is doubling down on his prediction that Bitcoin will hit $150,000.

Mt. Gox Repayment Impact

Lee believes that Bitcoin’s recent downturn is partly due to the upcoming repayment of Bitcoin by Mt. Gox to its creditors. However, he expects a “pretty sharp rebound” after this process is complete.

Bearish Trends Ending

Bitcoin has recently crossed the $60,000 mark and is showing signs of recovery. Analysts believe that the selling pressure from miners is easing and the broader crypto market is stabilizing.

Positive Outlook for Q3

CryptoQuant and analyst Ali Martinez predict an upside for Bitcoin in the third quarter of 2024. Martinez expects a strong rebound in July, with a potential price increase to $63,200 or $63,800.