Fundstrat’s Tom Lee Backs Bitcoin Price To $200,000 By The End Of The Year ⋆ ZyCrypto

Tom Lee Reveals Probable Bitcoin Price All-Time High For 2021

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With barely 60 days till the end of the year, Fundstrat’s Tom Lee has tipped Bitcoin (BTC) to finish the year on a solid footing after October’s seismic crash. Lee unveiled similar bullish predictions for Ethereum, backing the largest altcoin to close 2025 at the $7,000 mark.

Bitcoin To See New All-Time Highs, Says Tom Lee

Fundstrat co-founder Tom Lee has unveiled bullish forecasts for Bitcoin, predicting a $200,000 price point for the largest cryptocurrency by the end of 2025.

According to a CNBC interview, Lee noted that Bitcoin is expected to finish the year between $150,000 and $200,000, with a strong showing. Lee hinged his prediction on BTC’s price performance since the biggest liquidation event in the cryptocurrency market on October 10.

At the time, nearly $20 billion in positions were wiped out, with Lee noting that the market had entered a consolidation phase in the weeks following the black swan event. Leading cryptocurrencies, such as Bitcoin and Ethereum, have shown signs of consolidation, with post-liquidation open interest currently sitting at $25 billion.

Meanwhile, volatility has cooled for the largest cryptocurrency, as prices have consolidated within tighter ranges. As overleveraged traders exit the scene and spot investors take hold, Lee declared that fundamentals are driving prices in the cryptocurrency market.

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Currently, BTC is trading at the $102K mark, representing a 20% drawdown from its all-time high of $126K. With prices hovering at $106K, a rally to $200,000 by the end of the year represents an 88% increase in valuation.

In the same breath, the Fundstrat CEO tipped Ethereum to reach a $7,000 valuation by the end of 2025. He noted that Ethereum stablecoin volumes have exploded to new peaks while application revenues have reached all-time highs.

Similar predictions for BTC have gathered steam in recent weeks, with Strategy founder Michael Saylor making a strong case for a $150K price point by the end of the year. For long-term predictions, Saylor disclosed that Bitcoin to $1,000,000 is in play over the next four years, a sentiment echoed by Arthur Hayes and Hoskinson.

In a strong show of faith, Strategy kicked off November with a $45 million Bitcoin purchase, adding 397 BTC to its haul. Other Bitcoin treasury companies have increased their BTC holdings with glowing ETF figures triggering a meteoric run to the end of the year.



Source: https://zycrypto.com/fundstrats-tom-lee-backs-bitcoin-price-to-200000-by-the-end-of-the-year/