Bitcoin could reach USD $150,000 by the end of the year, says FS Insight analyst – DiarioBitcoin

For the head of research FS Insight, It is perfectly feasible that Bitcoin reach USD $150,000 before the end of 2024, precisely because institutional adoption is just beginning and is already showing quite promising figures.

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• Another analyst projects new highs for Bitcoin by the end of the year
• In this case it is Tom Lee, head of research for the financial analysis company FS Insight
• Lee believes this increase will come from greater adoption Bitcoin among institutional investors
• Considers that institutional adoption is only in the very early stages
• Lee’s reading is a little more modest than those proposed by other renowned figures

Tom Lee, head of research for the financial analysis company FS Insight who serves as an occasional analyst for the network CNBC, foresees that Bitcoin could manage to position itself above USD $150,000 per unit by the end of this year, claiming that the bull market could still provide surprises for those who closely follow the main digital currency.

Bitcoin over USD $150,000 at the end of the year

Lee’s reading came to light during an interview for the network CNBC, where the analyst said he remained optimistic about the price of Bitcoin in the future, indicating that there were very positive signs to think about that figure.

Firstly, he cited the flows that the different ETFs are registering Bitcoin operations in the US, which are performing quite well this season. However, weighing this against institutional adoption, Lee assured that this is only in its early days, so greater amounts of capital could be expected to enter the sector in the coming months.

He also highlighted that there is a new demographic group of new owners, among which would be institutional and retail investors, which consolidates the position of Bitcoin as a type of genuine asset, with utility for investors from different sectors.

Optimistic but modest reading

Although Lee’s statements come at a time of special optimism about the price of Bitcoin, his reading is quite modest when taking into consideration what was stated by other enthusiasts and followers.

Just yesterday, the billionaire investor and investment enthusiast Bitcoin, Chamat Palihapitiya, He assured that the main digital currency could be priced at around USD $500,000 per unit by 2025.

On the other hand we have Robert Kiyosaki, who made a closer reading and anticipates Bitcoin could reach a price of $300,000 before the end of 2024. However, in 2023, he predicted that BTC It will reach half a million dollars in 2025.

There is also Matt Hougan, executive of Bitwisewho believes that BTC It could rise to USD $200,000 or higher in 2024 in the midst of this context generated by an unbalanced dynamic of supply and demand.

And among the most daring stands out the founder and CEO of Ark InvestCathie Wood, projected that Bitcoin It could be quoted at around USD $3.8 million by 2030, if institutions decide to formally enter and invest in the main digital currency, allocating at least 5% of their investment portfolios.

Article by Angel Di Matteo / DailyBitcoin

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