Tom Lee has abandoned his $250,000 Bitcoin price prediction by the end of the year.
BitMine CEO Tom Lee has adjusted his forecast for Bitcoin reaching $250,000 by the end of 2025. The analyst now only allows for the possibility that the leading cryptocurrency will reach a new all-time high before the end of the year.
“I think it's very likely that Bitcoin will rise above $100,000 before the end of the year, and maybe even reach a new high,” Lee told CNBC.
This is the first time the expert has publicly abandoned his $250,000 target, which he announced in early 2024 and continued to repeat until early October.
The most optimistic expectations
Lee's forecast was one of the most optimistic in the market. Other crypto executives, including Galaxy Digital CEO Mike Novogratz, warned in October that “crazy things” would have to happen to reach such levels.
However, Lee believes that Bitcoin's best days will come before the end of 2025.
“I still think some of the best days will happen before the end of the year,” he noted. There are 35 days left in 2025.
Ten decisive days
Lee noted a peculiarity of Bitcoin: the bulk of its annual growth occurs over just a few trading days. According to him, significant price movements occur on only 10 days a year.
This idea is shared by many industry leaders. Bitwise CEO Hunter Horsley wrote on social media in February 2024 that investors can't predict when these days will arrive, but missing Bitcoin's top 10 days historically means losing almost all returns.
In 2024, Bitcoin's 10 strongest days generated a combined return of 52%, while the remaining 355 days saw the asset lose an average of 15%.
Current market situation
Bitcoin has been in a downtrend since October 10 following US President Donald Trump's announcement of tariffs on Chinese goods.
The cryptocurrency returned to the $90,000 level midweek, after spending six consecutive days below that mark. This pullback comes despite November historically being the strongest month on average for Bitcoin since 2013, according to CoinGlass.
Meanwhile, economist Timothy Peterson said that Bitcoin's bottom may already be past or will arrive this week.
The accuracy of Lee's forecasts
If Bitcoin doesn't follow Lee's prediction, it wouldn't be the first time his predictions have come true.
In January 2018, Lee said Bitcoin could reach $125,000 by 2022, but it took another three years to reach that mark, reaching the level in October 2025.
However, the analyst also had some accurate predictions. In July 2017, Lee predicted that Bitcoin could reach $20,000 by 2022 in a baseline scenario, and $55,000 by the same period in a more optimistic scenario.
Bitcoin reached $20,000 in December 2020 and $55,000 in March 2021, according to CoinMarketCap data.
Source: cryptonews.net
