Bitcoin (BTC) is currently trading below $70,000 on Monday. The range of price fluctuations has remained narrow since mid-March.
However, many experts predict an increase in volatility in the coming months. Mark Yusko, the CEO of Morgan Creek Capital, forecasted on CNBC that BTC could rise to $150,000 by the end of 2024.
The first significant milestone for the cryptocurrency will be breaking above $74,000 and maintaining that position. Yusko noted that since the beginning of January, the BTC price has strengthened by over 60%.
A new phase of Bitcoin’s growth is expected after the halving, and the result will be a surge to $150,000, emphasized the expert. BTC is a more convenient instrument compared to gold. It’s a qualitatively new asset class that will become more valuable than gold.
Tom Lee from Fundstrat holds a similar view. He also recently stated that Bitcoin should rise to $150,000 by the end of 2024.
In addition to the halving, he pointed out the significant impact of crypto ETFs, oriented towards BTC and appearing on the US market in early January.