Bitcoin (BTC) is below $70,000 on Monday. The price fluctuation range has remained narrow since mid-March.
However, many experts predict volatility to worsen in the coming months. Morgan Creek Capital fund CEO Mark Yusko predicted BTC’s rise to $150,000 by the end of 2024 on CNBC.
The cryptocurrency’s first major achievement will be to break above $74,000 and hold its position. Yusko recalled that since the beginning of January, the BTC exchange rate has strengthened by more than 60%.
After the halving, a new phase of bitcoin growth is expected, and its result will be a breakthrough to $150,000, the expert emphasized. BTC is a more convenient instrument compared to gold. It is a qualitatively new asset class that will become more expensive than gold.
A similar point of view is held by Tom Lee from Fundstrat. He also recently stated that bitcoin should grow to $150,000 by the end of 2024.
In addition to halving, he pointed to the big impact of BTC-focused crypto ETFs that appeared on the U.S. market in early January.