Tom Lee predicts that the base scenario for Bitcoin’s value in 2024 is $150K.

Renowned cryptocurrency market commentator Tom Lee predicts that Bitcoin (BTC) will reach $150,000 by 2024. During an interview on CNBC, Lee, who is the managing partner and head of research at Fundstrat Global Advisors, reiterated his bullish BTC price prediction. He stated that Fundstrat believes there is a possibility of Bitcoin reaching a six-figure price in 2024, which he considers to be the base case. This price target would be double the previous all-time high of $56,000 in March. Lee justified his prediction by highlighting the macroeconomic changes occurring in the United States, specifically the Federal Reserve’s stance on interest rate cuts. He believes that the market is recovering due to the more dovish language used by the Federal Reserve compared to market expectations. Despite not all of his previous BTC price predictions coming true, Lee emphasized the long-term benefits of holding Bitcoin. As of May 23, BTC/USD was trading around $70,000, marking a 15% increase for the month. The latest estimates from CME Group’s FedWatch Tool indicate that a rate cut is seen as the most likely option at the Fed’s September meeting. The minutes of the May meeting of the Federal Open Market Committee emphasized that no policy direction is off the table. This article does not provide investment advice and readers should conduct their own research before making any decisions.