Tom Lee confirmed his forecast for Bitcoin at $150,000 by the end of the year

On CNBC, the co-founder of the analytical company Fundstrat, Tom Lee, reiterated his forecast that the price of the leading cryptocurrency would reach $150,000 by the end of 2024.

This forecast was initially made by the expert in January when he pointed out the possibility of Bitcoin hitting $500,000 within the next five years.

In February, Tom Lee reaffirmed his forecast, attributing it to Bitcoin's supply reduction due to the halving and anticipating the monetary policy of the Federal Reserve.

This time, the analyst also mentioned the anticipated "May buying" following the April cryptocurrency sell-off. This contradicts the well-known investment strategy of "sell in May and go away."

Tom Lee also noted that the U.S. economy is no longer in an "overheated" state, allowing the Federal Reserve room to lower the key interest rate. According to the expert, this will support stocks of small-cap companies, the technology sector, and Bitcoin.