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Tom Lee: Bitcoin Could Hit New All-Time High in 2024, Ethereum to Outperform

Tom Lee, BitMine Chairman and Fundstrat co-founder, said Bitcoin could reach a new all-time high this year and expects Ethereum to outperform Bitcoin, CNBC reported on Jan. 18. Lee cited strong gains in the first five trading days of January as a positive signal for the full year, with the S&P 500 target of 7,700 offering additional upside. He attributed recent volatility in financials and crypto partly to policy shifts, noting Washington's efforts to cap credit card interest rates could weaken banks' lending capacity if implemented. Lee views progress on the Clarity Act as a positive development for crypto, and after October's sharp decline, he expects substantial recovery over time, remaining bullish on Bitcoin and even more constructive on Ethereum.
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