According to American businessman Tom Lee, who is also the managing partner at research firm Fundstrat, Bitcoin could reach a staggering price of $250,000 by the close of 2025, setting fresh record highs. Despite the recent dip in Bitcoin’s value, which caused it to fall below $90,000 for the initial time in 2025, Lee remains optimistic about BTC.
Lee had a discussion with Andrew Ross Sorkin from CNBC where he expressed his positive forecast for Bitcoin. This is consistent with the bullish stance he took during CNBC’s Closing Bell last December. During the chat, the entrepreneur emphasized that Bitcoin has dropped about 15% from its peak of $108,000. He explained that for a highly volatile asset like Bitcoin, such a correction is relatively typical.
Bitcoin to $70K?
Lee is pessimistic about Bitcoin’s near future price movements, but his technical analysts foresee a possible decline to $70,000. He believes global liquidity trends are influencing Bitcoin’s performance and expressed optimism that “we’re still in the early stages of this cycle.” Despite his short-term pessimism, Lee anticipates that Bitcoin will be among the top-performing assets in 2025.
When Sorkin inquired if Lee genuinely expects Bitcoin (BTC) to fall to $70,000, he clarified this possibility using Fibonacci retracement levels as a guideline. Lee suggested that assets often retreat following a rally, and the $70,000 area represents one such retracement level for BTC. Another potential retracement level for BTC is approximately $50,000.
“Fair Prices”
Later, Sorkin raised the point of whether those purchasing Bitcoin at its current cost, such as MicroStrategy’s recent acquisition of 2,530 BTC, had bought in at a “fair price.” However, Lee argued that investors should keep their attention on the long-term perspective. He further stated that no one would experience a loss when buying at $90,000.
Lee stated that if they’re aiming for the right moment, it might just hit $70, but he personally believes bitcoin could reach much higher this year, perhaps even $200 or $250. In his opinion, $90 is still a good price to buy in.
Based on information from CoinMarketCap, the current Bitcoin price stands at approximately $92,051.04. In the last 24 hours, it has dropped by 3.21%, and over the past 30 days, it has decreased by 9.24%. A drop earlier this month caused Bitcoin to lose its $2 trillion market cap. At the moment of writing, its market cap is around $1.82 trillion.
The chart presented by TradingView indicates that Bitcoin’s Relative Strength Index (RSI) remains optimistic over a longer duration. Currently, the RSI stands at 60.86, implying that bulls continue to dominate, yet the slope of the line hints at a significant buildup in selling pressure, potentially leading to more price drops.
Read More
- ZK PREDICTION. ZK cryptocurrency
- What’s on TV tonight, Dec. 15, 2024? (ABC, CBS, NBC, FOX, The CW)
- Who Is Kelly Reilly’s Husband? Kyle Baugher’s Job & Relationship History
- Here’s Why Adin Ross Deleted His 100K Member Community on X
- Who Is Karen Fairchild’s Husband? Jimi Westbrook’s Job & Relationship History
- W PREDICTION. W cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- Ethereum Price Stays Resilient: A Gradual Increase in Sight?
- Black Ops 6 needs to add this key feature to curb-stomp cheating
- Veera Dheera Sooran’s Arun Kumar reveals Chiyaan Vikram starrer revolves around ‘violence, forgiveness and guilt’; addresses prequel plans
2025-01-13 22:30