Author: BRAYDEN LINDREA, COINTELEGRAPH; Compiler: Songxue, Jinse Finance

According to investment research firm Fundstrat, the price of bitcoin could soar to an eye-popping $150,000 by the end of 2024, provided the current slew of US-based spot bitcoin exchange-traded funds (ETFs) are approved**. **

In an Aug. 16 interview with CNBC’s Squawk Box, Fundstrat’s managing partner and head of research Tom Lee predicted that a string of successful bitcoin spot ETF filings will shift bitcoin’s supply and demand dynamics toward substantial price appreciation.

When asked what the price of Bitcoin will be by the end of next year, Lee did not hold back: ** "If the spot bitcoin (ETF) is approved, I think the demand will be greater than the daily supply of bitcoin, so the price will exceed 15 $10,000, maybe even around $180,000.”**

Lee clarified that this could be the case as long as it is a U.S.-approved spot bitcoin ETF, as there are already spot bitcoin ETFs in Europe.

The U.S. currently accounts for 97.7% of crypto-related ETF trading volume, according to Eric Balchunas, senior ETF analyst at Bloomberg. That could reach 99.5% once a spot bitcoin ETF is approved, he said. **

However, even if the spot ETF application is rejected, **Lee still predicts that Bitcoin's next halving event (expected to occur in April 2024) will bring considerable price gains. **

"Supply is going to drop again, so prices have to go up. But it won't be six figures."

In June, Wall Street heavyweights Fidelity, Invesco, Wisdom Tree and Valkyrie followed the pace of the world's largest asset management company BlackRock applying to the SEC for a Bitcoin spot ETF.

However, some of these companies may not know their fate until sometime in 2024, as the SEC has up to 240 days to make a final decision on an application after it begins the review process.

However, the results of Grayscale’s call to convert its GBTC trust product into a bitcoin spot ETF are expected to come sooner or later.

Bloomberg ETF analysts Eric Balchunas and James Seyffart recently estimated that these bitcoin spot ETFs have a 65% chance of being approved by securities regulators, a sharp increase from before BlackRock filed.

Others have hinted that the bitcoin price could hit $100,000 earlier than expected, with **Blockstream CEO Adam Back recently betting that bitcoin will hit a new price milestone a month before the halving event. **

However, not everyone agrees. Jesse Myer, co-founder of bitcoin investment firm Onramp, explained on Aug. 15 that the market will only price in changes 12-18 months after the halving. **

“Bitcoin will not soar to $100,000 until the next halving,” he said.