Tom Lee, BitMine’s chairman and co-founder at Fundstrat, said Bitcoin might reach $250,000 by 2025 despite some crypto analysts lowering their expectations.
“I think Bitcoin should really build upon this 120 before the end of the year; 200,000, maybe, 250,” Lee spoke to Natalie Brunell, host of the Coin Stories Podcast on Tuesday.
Lee announced a Bitcoin deadline in November.BTC( reach $250,000.
Tom Lee’s bullishness isn’t shared by all analysts
Some analysts, however, like BitMEX co-founder Arthur Hayes Unchained’s Market Research Director Joe Burnett has recently repeated a similar target price for the year. However, other analysts have adopted more conservative outlooks with only five months remaining until the end 2025.
Bernstein’s and Standard Chartered’s Bitcoin target for the year ended was $200,000 in May. Markus Thielen, of 10x research, projected a modest goal of $160,000.
Lee believes that there’s a high probability of the Bitcoin cycle ending after four years due to the growing institutional interest. This is an opinion shared by many executives.
Crypto analyst Rekt capital recently stated that the Bitcoin market would likely reach its peak by October, a period of 550 days, if it follows the pattern for 2020. after the Bitcoin halving The next April is 2024.
Matt Hougan is the chief investment officer of Bitwise. recently called The four-year halfing “dead” Predictions suggest that the year 2026 is going to be a “up year” Bitcoin.
The crypto market is shifting to a more positive sentiment “neutral”
Lee’s target is optimistic, as Bitcoin experienced a volatile last week.
BTC, which had reached a record high of $123100 on 14 July, fell to just $112 044 over the weekend, and traded at around $113,000 as of the publication date. according Nansen.
The crypto market has also seen a drop in sentiment. The Crypto Fear & Greed IndexThis indicator, which is used to measure the general market mood, was shifted away from an “Greed” A score of 60 is a good result. “Neutral” On Wednesday, the score was 54.
Related: Bitcoin analysis warns BTC price ‘going lower’ first as $113K slips
Lee believes that skepticism can be a good thing in the financial markets. “It’s a sign that there is still price discovery underway. Because if people were all bullish, in the public realm, when everyone is bullish, then it’s probably in the price,” “He said”
“When there is plenty of skepticism and reasons to be skeptical, it allows markets to have positive surprise.”
Lee predicts Bitcoin will reach $1 Million “over time.”
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Source: cointelegraph.com
