{"id":627433,"date":"2024-07-03T03:00:00","date_gmt":"2024-07-03T03:00:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=627433"},"modified":"2024-07-03T02:16:32","modified_gmt":"2024-07-03T02:16:32","slug":"fundstrat-bitcoin-reach-15000","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/fundstrat-bitcoin-reach-15000\/","title":{"rendered":"Fundstrat\u2019s Head Of Research Says Bitcoin Will Reach $150,000, Here\u2019s When"},"content":{"rendered":"

Fundstrat\u2019s head of research, Tom Lee has doubled down on his initial Bitcoin prediction, strongly emphasizing that the pioneer cryptocurrency will <\/span>surge to $150,000<\/span><\/a>. The Wall Street strategist highlighted Bitcoin\u2019s strong bullish outlook, believing that the cryptocurrency will eventually pull out of <\/span>bearish trends<\/span><\/a> soon.<\/span><\/p>\n

Bitcoin To Hit $150,000 In 2024<\/h2>\n

In a recent <\/span>interview<\/span><\/a> with CNBC Television, Lee expressed bullish optimism over <\/span>Bitcoin\u2019s future outlook<\/span><\/a>, reaffirming his previous prediction that the cryptocurrency would reach new all-time highs of $150,000 by the end of 2024.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Investors Place $500 Million In Spot BTC Bids Below Market Price<\/a><\/div>\n

Earlier in May, Lee made a bullish forecast for Bitcoin, anticipating a dramatic surge to $150,000 before the year ends. At the time, the Fundstrat head of research attributed his ambitious forecast to the cooling down of <\/span>inflation in the United States (US)<\/span><\/a> and a subsequent increase in the demand for BTC. However, now Lee adds that <\/span>BTC<\/span><\/a>\u00a0could witness a sharp rebound following the conclusion of <\/span>Mt Gox\u2019s Bitcoin<\/span><\/a> repayment process to creditors.<\/span><\/p>\n

During the interview, Lee suggested that the upcoming <\/span>Bitcoin redistribution by Mt Gox <\/span><\/a>might be driving the bearish pressure on Bitcoin\u2019s price. Earlier in June, Mt Gox disclosed that it would officially start its $9 billion worth of BTC and Bitcoin Cash (BCH) repayment plans in July. The redistribution will see <\/span>creditors being refunded and compensated<\/span><\/a> for the Bitcoin exchange\u2019s hack attack in 2014.\u00a0<\/span><\/p>\n

With $9 billion worth of BTC and BCH set to flood the market, <\/span>speculations<\/span><\/a> are rising concerning potential sell-offs from creditors. This sentiment has <\/span>led to BTC’s downward spiral<\/span><\/a>, triggering stronger selling pressures from investors.\u00a0<\/span><\/p>\n

Bitcoin\u2019s price<\/span><\/a> also fell below $60,000 at some point, recording even more declines as miners <\/span>sold off their holdings<\/span><\/a> to purchase more effective mining tools. Lee believes that following any Gox\u2019s repayment process, Bitcoin may have a \u201cpretty sharp rebound\u201d in the second half of the year.\u00a0<\/span><\/p>\n

Bearish Trends May Be Over For BTC<\/h2>\n

Bitcoin price has successfully crossed the $60,000 threshold and is now trading at $62,523, as of writing. Since early June, the cryptocurrency has experienced a sharp downward trend, <\/span>crashing by up to 20%<\/span><\/a> due to the substantial outflows from Spot Bitcoin ETFs.\u00a0<\/span><\/p>\n

However, Bitcoin may be getting ready for a fresh upside as analysts foresee a major rebound as <\/span>miners’ selling pressure cool off<\/span><\/a> and the broader crypto market stabilizes.<\/span><\/p>\n

Related Reading: Dogecoin Flashes Major Bullish Signal On 3-Day Chart, Here\u2019s The Target<\/a><\/div>\n

Particularly, on-chain market intelligence platform, <\/span>CryptoQuant<\/span><\/a> has projected a potential upside for Bitcoin in the third quarter of 2024 (Q3). Furthermore, crypto analyst Ali Martinez has expressed bullish sentiment for BTC’s price prospects.\u00a0\u00a0<\/span><\/p>\n

In an X (formerly Twitter) <\/span>post<\/span><\/a>, Martinez highlighted Bitcoin\u2019s underperformance in the previous month, describing this bearish event as a \u201cnegative June.\u201d Despite the downtrend, the analyst <\/span>foresees<\/span><\/a> a strong rebound for Bitcoin in July, with an average return of 7.98% and a possible price increase to $63,200 or $63,800.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC bulls hold price above $62,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Fundstrat\u2019s head of research, Tom Lee has doubled down on his initial Bitcoin prediction, strongly emphasizing that the pioneer cryptocurrency will surge to $150,000. The Wall Street strategist highlighted Bitcoin\u2019s strong bullish outlook, believing that the cryptocurrency will eventually pull out of bearish trends soon. Bitcoin To Hit $150,000 In 2024 In a recent interview with CNBC Television, Lee expressed bullish optimism over Bitcoin\u2019s future outlook, reaffirming his previous prediction that the cryptocurrency would reach new all-time highs of $150,000 by the end of 2024.\u00a0 Related Reading: Bitcoin Investors Place $500 Million In Spot BTC Bids Below Market Price Earlier in May, Lee made a bullish forecast for Bitcoin, anticipating a dramatic surge to $150,000 before the year ends. At the time, the Fundstrat head of research attributed his ambitious forecast to the cooling down of inflation in the United States (US) and a subsequent increase in the demand for BTC. However, now Lee adds that BTC\u00a0could witness a sharp rebound following the conclusion of Mt Gox\u2019s Bitcoin repayment process to creditors. During the interview, Lee suggested that the upcoming Bitcoin redistribution by Mt Gox might be driving the bearish pressure on Bitcoin\u2019s price. Earlier in June, Mt Gox disclosed that it would officially start its $9 billion worth of BTC and Bitcoin Cash (BCH) repayment plans in July. The redistribution will see creditors being refunded and compensated for the Bitcoin exchange\u2019s hack attack in 2014.\u00a0 With $9 billion worth of BTC and BCH set to flood the market, speculations are rising concerning potential sell-offs from creditors. This sentiment has led to BTC’s downward spiral, triggering stronger selling pressures from investors.\u00a0 Bitcoin\u2019s price also fell below $60,000 at some point, recording even more declines as miners sold off their holdings to purchase more effective mining tools. Lee believes that following any Gox\u2019s repayment process, Bitcoin may have a \u201cpretty sharp rebound\u201d in the second half of the year.\u00a0 Bearish Trends May Be Over For BTC Bitcoin price has successfully crossed the $60,000 threshold and is now trading at $62,523, as of writing. Since early June, the cryptocurrency has experienced a sharp downward trend, crashing by up to 20% due to the substantial outflows from Spot Bitcoin ETFs.\u00a0 However, Bitcoin may be getting ready for a fresh upside as analysts foresee a major rebound as miners’ selling pressure cool off and the broader crypto market stabilizes. Related Reading: Dogecoin Flashes Major Bullish Signal On 3-Day Chart, Here\u2019s The Target Particularly, on-chain market intelligence platform, CryptoQuant has projected a potential upside for Bitcoin in the third quarter of 2024 (Q3). Furthermore, crypto analyst Ali Martinez has expressed bullish sentiment for BTC’s price prospects.\u00a0\u00a0 In an X (formerly Twitter) post, Martinez highlighted Bitcoin\u2019s underperformance in the previous month, describing this bearish event as a \u201cnegative June.\u201d Despite the downtrend, the analyst foresees a strong rebound for Bitcoin in July, with an average return of 7.98% and a possible price increase to $63,200 or $63,800.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":627453,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790,13103,92684],"class_list":["post-627433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-fundstrat","tag-fundstrats-head-of-research"],"acf":[],"yoast_head":"\nFundstrat\u2019s Head Of Research Says Bitcoin Will Reach $150,000, Here\u2019s When<\/title>\n<meta name=\"description\" content=\"Fundstrat\u2019s head of research, Tom Lee has doubled down on his initial Bitcoin prediction that the cryptocurrency will surge to $150,000.\" \/>\n<meta name=\"robots\" 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Matherson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g","caption":"Scott Matherson"},"description":"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/ktsl888.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Fundstrat\u2019s Head Of Research Says Bitcoin Will Reach $150,000, Here\u2019s When","url":"http:\/\/ktsl888.com\/news\/bitcoin\/fundstrat-bitcoin-reach-15000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin\/fundstrat-bitcoin-reach-15000\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin-price.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin-price.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","fundstrat","fundstrat\u2019s head of research"],"dateCreated":"2024-07-03T03:00:00Z","datePublished":"2024-07-03T03:00:00Z","dateModified":"2024-07-03T03:00:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Fundstrat\\u2019s Head Of Research Says Bitcoin Will Reach $150,000, Here\\u2019s When\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/fundstrat-bitcoin-reach-15000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/fundstrat-bitcoin-reach-15000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Bitcoin-price.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Bitcoin-price.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"fundstrat\",\"fundstrat\\u2019s head of research\"],\"dateCreated\":\"2024-07-03T03:00:00Z\",\"datePublished\":\"2024-07-03T03:00:00Z\",\"dateModified\":\"2024-07-03T03:00:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin-price.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/627433"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=627433"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/627433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/627453"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=627433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=627433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=627433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}