Select Wall Street analysts see substantial upside in Bitcoin. Whether their estimates are correct or not, the cryptocurrency is a worthwhile investment for risk-tolerant investors.
Bitcoin (BTC 0.31%) gained 116% over the past year amid a resurgence in risk assets driven by an increasingly optimistic economic outlook. Other factors contributing to those returns include the recent approval of spot Bitcoin ETFs and the upcoming halving of Bitcoin mining rewards, estimated to occur on April 16, 2024.
Several Wall Street analysts think those factors will drive the cryptocurrency even higher in the future, but Anthony Scaramucci, Tom Lee, and Cathie Wood are among the most bullish. Their forecasts imply upside ranging from 525% to 5,800% from the current price of $64,000.
The two catalysts that could drive Bitcoin higher
Recently approved spot Bitcoin ETFs offer direct exposure to Bitcoin without the friction of cryptocurrency…
