Tom Lee, the founder of Fundstrat, has spoken to CNBC about the positive impact of approval of spot cryptocurrency ETFs on the appeal of Bitcoin.
He has forecasted that due to institutional investment in this sector, volatility will decrease.
Furthermore, Lee believes that by the end of 2024, the price of BTC could even reach $150,000 and might even surge to $180,000 with more active institutional support.
Despite the possibility of the SEC rejecting the proposal of crypto ETFs, Lee concluded that BTC will still likely experience growth prior to the spring halving in 2024, which should enable it to reach its target level of $150,000.
