Fundstrat, a major bull, made an aggressive prediction: Bitcoin will surge to $150,000 by the end of the year and hit $500,000 within five years.

Zhitong App learned that Tom Lee, managing partner of Fundstrat Global Advisors, made a bold prediction on the trend of Bitcoin on Wednesday, suggesting that by the end of this year, this cryptocurrency could rise to $150,000.

During an interview, Lee stated, "I believe Bitcoin could reach as high as $150,000. The demand for ETFs has improved, while the supply has decreased... If monetary policy eases as we expect, this will support risk assets and Bitcoin."

At the time of Lee's statement, the momentum of Bitcoin seemed to have lost some steam. In the past few weeks, Bitcoin has risen by 35%, breaking through $53,000 to reach its highest level in 26 months. As of the time of writing, the trading price of Bitcoin is hovering around $51,700. To reach $150,000, this would mean Bitcoin needs to increase by about 190% from its current value. Over the past year, the price of Bitcoin has risen by 110.1%, accumulated a 16.2% increase in 2024, and risen by 23.5% in the past month.

However, Lee is not concerned about this. "Bitcoin has always been very resilient," he said. "I don't think it will start to decline quickly."

Short-term Correction Possible

However, other analysts believe that Bitcoin may cool down in the near term.

Joel Kruger, market strategist at LMAX Group, suggested caution in the short term, noting that due to central bank policy changes and the impact of global macroeconomic weakness, volatility may occur, temporarily affecting the cryptocurrency market. But he added that any downturn would provide an opportunity to establish strategic positions.

In its market update report on Wednesday, Swissblock analysts stated that the overall outlook for Bitcoin remains optimistic, but before resuming the upward trend, it may first fall to lower prices.

Swissblock analysts said, "While the general sentiment suggests that the upward trajectory may continue, the current situation may require a period of consolidation, possibly even a pullback to the support level of $47,500. This adjustment will help alleviate excessive volatility and strengthen market stability before any potential further upward movement."

Aiming for $500,000 within Five Years

Regarding the long-term price forecast for Bitcoin, Lee reiterated his prediction of reaching $500,000 within five years.

He said, "It is a reliable currency, I believe it will prove to be useful... It has a high storage value. It is a good risk asset. It is also very secure." Lee asserts, "Since its establishment, there have been no fraudulent entries on the blockchain. I don't think any bank can claim that their profit and loss statements and accounting are genuine. You know, 6% of bank transactions are suspicious, while on the Bitcoin blockchain, such transactions account for 0%."

Skybridge founder Anthony Scaramucci stated that it is not too late to buy Bitcoin now, and he expects Bitcoin to experience a "shocking surge."