On March 5, 2024, Bitcoin reached a new all-time high (ATH), breaching the $69,000 level. This was a huge moment, considering that many were willing to count Bitcoin out when it was trading at the $15,000 level less than 15 months ago. However, some do not see Bitcoin's bullish momentum ending there.
Tom Lee is a managing partner and head of research at Fundstrat, one of the most prominent financial research firms in the world. In an interview with CNBC, Lee said that Bitcoin will "make a bee-line back towards its long-term trend line," which could propel it to $150,000 before year end...and much much higher numbers in the future."
Lee is a prominent voice in the financial sector, and his opinion is valued by many. His bullish take on Bitcoin could cause traders to act, potentially propelling Bitcoin even higher.
Additionally, in the interview, Lee discusses his main reasons for why he believes that Bitcoin is so polarizing among the investment community.
First, he says that it is a generational issue. Crypto, he says, "is being adopted and used by younger folks, Millennials and Gen Z." He noted that it has a strong global presence, particularly among the unbanked and those without access to strong financial institutions.
