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

Amid Bitcoin worth’s surging momentum, Tom Lee, popularly generally known as the “Wall Street Big Bull,” has made a daring prediction relating to the cryptocurrency’s trajectory. Notably, Lee anticipates Bitcoin to succeed in $82,000 within the close to time period, adopted by a possible surge to $150,000 by the top of 2024.

Meanwhile, 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 Research at Fundstrat, lately shared his bullish perspective on Bitcoin’s future throughout a CNBC Last Call interview. Lee believes that Bitcoin is poised to return to its long-term development line, projecting a worth goal of $82,000 shortly, with an additional climb to $150,000 by the top of 2024.

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

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

Also Read: Louisiana Introduces Bill On Bitcoin Rights Amid BTC Price Rally To $68K

Bitcoin Price Amid Bullish Prediction

Lee’s optimistic projection of Bitcoin reaching $150,000 by the top 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.

Besides, the latest rally in Bitcoin, which has propelled its worth 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.

Meanwhile, 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. On the opposite hand, Bitcoin Futures Open Interest (OI) additionally surged 6.27% during the last 24 hours to 485.87K BTC or $32.39 billion.

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

Also Read: 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. Currently 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 offered content material might embody the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability on your private monetary loss.