Fundstrat co-founder and BitMine chairman Tom Lee mentioned Bitcoin should still be capable to attain $250,000 in 2025, regardless of different crypto analysts cautiously pulling again targets.
“I believe Bitcoin ought to actually construct upon this 120 earlier than the tip of the yr. 200,000, possibly, 250,” Lee instructed Natalie Brunell on the Coin Tales podcast on Tuesday.
Final November, Lee gave a 12-month deadline for Bitcoin (BTC) to reach $250,000.
Not all analysts are as bullish as Tom Lee
Whereas analysts like BitMEX co-founder Arthur Hayes and Unchained’s market analysis director Joe Burnett have lately echoed an analogous worth goal for the yr, others have adopted a extra cautious outlook with lower than 5 months left till the tip of 2025.
In Could, Bernstein and Commonplace Chartered set their year-end Bitcoin targets at $200,000, whereas 10x Analysis’s Markus Thielen lately projected a extra modest $160,000.
Lee mentioned there’s a chance that the four-year cycle has ended for Bitcoin because of the mounting institutional curiosity in Bitcoin, an more and more shared perception amongst executives within the business.
Nevertheless, crypto analyst Rekt Capital lately mentioned that if the Bitcoin cycle follows the 2020 sample, the market will doubtless peak in October, which is 550 days after the Bitcoin halving in April 2024.
Bitwise chief funding officer Matt Hougan recently called the four-year halving “useless” and predicted that 2026 can be an “up yr” for Bitcoin.
Crypto market sentiment shifts to “impartial”
Lee’s optimistic goal comes as Bitcoin has seen a risky week.
After reaching a brand new all-time excessive of $123,100 on July 14, BTC pulled again to $112,044 over the weekend and is buying and selling round $113,000 on the time of publication, according to Nansen.
There’s additionally been a current tumble in crypto market sentiment. The Crypto Worry & Greed Index, which measures general market sentiment, shifted from a “Greed” rating of 60 on Tuesday to a “Impartial” rating of 54 on Wednesday.
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Nevertheless, Lee mentioned skepticism is a constructive in any monetary market. “It’s an indication that there’s nonetheless worth discovery underway. As a result of if folks have been all bullish, within the public realm, when everyone seems to be bullish, then it’s in all probability within the worth,” he mentioned.
“When there’s loads of skepticism and causes to be skeptical, it permits markets to have constructive shock.”
Lee forecasts that Bitcoin ought to attain $1 million “over time.”
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This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer includes danger, and readers ought to conduct their very own analysis when making a choice.
