BitMine Chairman Tom Lee seems to have softened his widely publicized prediction of a $250,000 BTC by the end of the year, now merely stating that BTC "might" return to its historical high of $125,100 from October before the year ends.
Lee stated in an interview with CNBC on Wednesday, "I think it's still very likely that BTC will break $100,000 by the end of the year, and it might even set a new high."
This appears to be the first time Lee has publicly softened his target prediction of BTC reaching $250,000 by the end of the year. He initially made this prediction earlier in 2024 and continued to reiterate it until early October.
Lee's prediction is one of the more bullish forecasts. Other cryptocurrency executives, including Galaxy Digital CEO Mike Novogratz, warned around October that reaching that level would require "crazy things" to happen.
Nevertheless, Lee stated that some of BTC's strongest moments might still come before the end of 2025.
He said, "I still believe some of the best moments will occur before the end of the year." There are 35 days left until the end of 2025.
Lee pointed out that BTC tends to achieve most of its gains on just a few trading days each year, noting that the asset typically "takes action" only about 10 days a year.
This view is widely accepted among industry executives. Bitwise CEO Hunter Horsley mentioned in a post on X in February 2024 that while investors cannot predict when these days will come, historically, missing the best 10 days of BTC performance means missing almost all returns.
In 2024, the cumulative return for BTC's best 10 days was 52%, while the average return for the remaining 355 days was -15%.
Since October 10, BTC has been on a downward trend, pressured by a $19 billion liquidation in the cryptocurrency market, which occurred after U.S. President Trump announced a 100% tariff on Chinese goods.
On Wednesday, BTC only regained the $90,000 level after being below it for six consecutive days.
According to CoinGlass data, November has historically been the strongest month for BTC on average since 2013.
Meanwhile, economist Timothy Peterson stated on Monday that BTC's bottom may have already occurred or will occur this week.
If BTC fails to meet Lee's prediction, it would not be the first time Lee's BTC forecast has fallen short.
In January 2018, Lee stated that BTC could reach as high as $125,000 by 2022. The historical high in 2018 ultimately was $17,172.
However, Lee has also made accurate price predictions.
In July 2017, Lee predicted that under a base scenario, BTC could reach $20,000 by 2022, while a more bullish outlook could see a potential price of $55,000 during the same period.
According to CoinMarketCap data, BTC eventually reached $20,000 in December 2020 and hit $55,000 in March 2021.
Related: Coinbase announces nine major crypto innovation directions it plans to bet on by 2026
Original article: “Tom Lee no longer insists on $250,000 Bitcoin (BTC) prediction, year-end new high is now just ‘possible’”
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