Financial market research firm Fundstrat’s Tom Lee defended his position that Bitcoin (BTC) could trade at anywhere from $22,000 to $25,000 by the year’s end, in two CNBC interviews Thursday, July 5.
Lee made sure to clarify to reporters that his most recent $22,000 price prediction is emphatically not a bearish retreat from his previous forecasts of $25,000.
Lee, a notorious Bitcoin bull, is famous for his prediction in January that Bitcoin would hit $25,000 by the end of 2018, later saying in March it would reach a staggering $91,000 by 2020.
Reappearing on CNBC Thursday afternoon, Lee was quick to clarify what he considered to be an exaggerated reaction to his morning comments, saying that: “I do think it’s the first time I’ve ever heard someone thinking something could triple is a bearish comment.
Bitcoin is currently trading at about $6,582 to press time, down just over one percent on the day.
Bitcoin continues to maintain its momentum toward the upward trajectory, touching the $68,000 price mark earlier today, leading to speculations about how long it will take to hit a new peak. Bitcoin To Reach $70,000 In A Matter Of Time With the price action of Bitcoin today, several crypto analysts are bullish about BTC as they believe that the crypto asset could reach a new peak very soon.
What do the billionaires and experts forecast for Bitcoin price in 2024 and beyond? Dive into the predictions that might shape the crypto space in the coming years.
Tom Lee, a prominent cryptocurrency analyst at Fundstrat, recently shared his observations on bitcoin's ability to maintain critical support levels in the face of significant regulatory challenges.
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Coinspeaker Bitcoin Price May Explode to $500,000, Says Fundstrat’s Tom LeeFundstrat's Tom Lee said that the price of Bitcoin could surge to $500,000 in the long term, but he failed to mention the exact timeline for such a pie-in-the-sky target to be achieved.
