Key Notes
- Lee views present 15% correction from $108K ATH as regular market conduct for a risky asset like Bitcoin.
- Technical evaluation suggests attainable drops to $70K-$50K ranges primarily based on Fibonacci retracement ranges.
- Regardless of short-term bearish outlook, Lee maintains $90K remains to be a great entry level for long-term Bitcoin traders.
American entrepreneur Tom Lee, additionally the managing associate at analysis agency Fundstrat, has predicted that market-leading digital asset Bitcoin
BTC
$91 986
24h volatility:
2.9%
Market cap:
$1.82 T
Vol. 24h:
$69.90 B
will hit a price ticket of $250,000 by the tip of 2025, hitting new all-time highs. Lee’s bullish tackle BTC stays unfazed by the current Bitcoin crash, which noticed the cryptocurrency drop beneath $90,000 for the primary time in 2025.
Lee engaged in a conversation with CNBC host Andrew Ross Sorkin the place he made his bullish prediction for Bitcoin, doubling down on an analogous prediction he made throughout CNBC’s Closing Bell final yr in mid-December. The entrepreneur highlighted in the course of the interview that Bitcoin is down roughly 15% from its all-time excessive of $108K, “which, for a hyper-volatile asset, is a fairly regular correction.”
Bitcoin to $70K?
Nevertheless, Lee is bearish on Bitcoin within the quick time period, including that technicians working for his agency predicted that BTC may witness a drop to $70,000. The cryptocurrency is following world liquidity, stated Lee whereas emphasizing that as per his beliefs, “we’re fairly early on this having cycle.” Whereas the entrepreneur might be bearish within the quick time period, Lee predicted that Bitcoin will likely be one of many best-performing property in 2025.
When Sorkin requested if Lee actually believes BTC will drop to $70,000, he defined how that’s attainable through the idea of Fibonacci retracement ranges. Lee stated that property pull again from the place they rally, and the $70K area is one retracement degree, whereas one other degree for BTC is at round $50K.
“Truthful Costs”
Sorkin then questioned if the individuals and entities shopping for Bitcoin at present costs, for instance, MicroStrategy’s recent 2,530 BTC purchase, have gotten in at “truthful costs.” Lee countered that traders ought to keep give attention to the long run, including that no one will lose cash whereas shopping for at $90,000.
“In the event that they’re attempting to time this, possibly they’ll get fortunate and it goes to $70, however to me, bitcoin might be considerably larger this yr, you already know, possibly $200, $250, so … I believe $90 remains to be a great entry level,” Lee stated.
Based on the data from CoinMarketCap, Bitcoin at present trades at $92,051.04, down 3.21% up to now 24 hours and 9.24% within the final 30 days. The digital asset misplaced the $2 trillion market cap after dropping $100,000 earlier this month and has a market cap of $1.82 trillion on the time of writing.
The weekly chart supplied by TradingView above reveals that the RSI ranges for Bitcoin are nonetheless bullish on an extended timeframe. The RSI is valued at 60.86, which means that bulls are nonetheless in management, however the gradient of the road suggests a large improve in promoting stress with probabilities of additional worth declines.
Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed data however shouldn’t be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm data by yourself and seek the advice of with knowledgeable earlier than making any choices primarily based on this content material.
