Tom Lee, co-founder of Fundstrat and chairman of BitMine, stated that despite other crypto analysts cautiously lowering their targets, Bitcoin could still reach $250,000 by 2025.
“I think Bitcoin should really build on this $120 base by the end of the year. It could be $200,000, or even $250,” Lee told Natalie Brunell on Tuesday's Coin Stories podcast.
Last November, Lee set a deadline for BTC to reach $250,000 within 12 months.
While analysts like BitMEX co-founder Arthur Hayes and Unchained's market research director Joe Burnett have recently expressed similar annual price targets, others have taken a more cautious stance with less than five months until the end of 2025.
In May, Bernstein and Standard Chartered set their year-end Bitcoin target at $200,000, while Markus Thielen from 10x Research recently predicted a more moderate $160,000.
Lee noted that due to increasing institutional interest in Bitcoin, the four-year cycle for Bitcoin may have ended, which is becoming a growing consensus among industry executives.
However, crypto analyst Rekt Capital recently pointed out that if Bitcoin follows the pattern of 2020, the market may peak in October. This timing would be 550 days after the Bitcoin halving event in April 2024.
Bitwise Chief Investment Officer Matt Hougan recently declared the four-year halving “dead” and predicted that 2026 will be a “bullish year” for Bitcoin.
Lee's optimistic target comes as Bitcoin experiences a tumultuous week.
According to Nansen data, Bitcoin hit an all-time high of $123,100 on July 14, then fell back to $112,044 over the weekend, and as of the time of writing, the Bitcoin price is around $113,000.
Crypto market sentiment has also recently declined. The Crypto Fear and Greed Index, which measures overall market sentiment, shifted from a “Greed” score of 60 on Tuesday to a “Neutral” score of 54 on Wednesday.
However, Lee stated that skepticism is a positive sign in any financial market. “It indicates that price discovery is still ongoing. Because if people in the public domain are all bullish, when everyone is bullish, that may already be reflected in the price,” he said.
Lee predicts that Bitcoin should reach $1 million “over time.”
Related: A bull market does not mean resting easy: Q2 earnings reports from crypto concept companies reveal transformation pains
Original article: “Fundstrat Managing Partner Tom Lee Says Bitcoin (BTC) Still Likely to Hit $250,000 This Year”
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