As a dedicated crypto investor, I’ve been keeping an eye on recent discussions surrounding Bitcoin, and I was particularly intrigued by Tom Lee’s insights. As head of research at Fundstrat Capital and a regular contributor to CNBC’s Fast Money show, he recently shared his thoughts about Bitcoin’s future outlook during a visit to CNBC.
Lee disclosed two potential price points below the current $96,590, which Bitcoin has escalated to following its jump from $90,700 on Monday. Previously, in December, Bitcoin had peaked at an all-time high of $108,268.
Bitcoin may hit $50,000 before rallying again: Tom Lee
In response to queries about potential further drops in Bitcoin’s price from the current $90,700, an expert at Fundstrat stated that the cryptocurrency has experienced a “typical 15% decline” from its recent high points, describing this situation as a “standard correction” for a highly volatile asset. He noted that Bitcoin is somewhat mirroring global liquidity conditions.
Based on Lee’s perspective, we are still in an early stage of the current Bitcoin halving cycle, leading him to anticipate a potential drop in BTC prices to around $70,000 in the short term. This viewpoint is echoed by Fundstrat’s technical analyst, with Lee noting that such a dip would present a valuable buying opportunity due to Bitcoin’s expected strong performance this year, as predicted by Tom Lee.
Instead, Lee speculates that the value of Bitcoin might fall further, potentially reaching the range around $50,000. From this point, he suggests, Bitcoin could begin another upward surge.
As Bitcoin took a dip, I, as a researcher, found myself observing MicroStrategy’s move to acquire an additional $243 million in Bitcoin. Now, this digital gold in their possession has swelled to a staggering 450,000 coins.
Bitcoin recovers after 5.47% fall
After a steep decline since last Tuesday, when it nearly touched $103,000, the leading cryptocurrency has started to bounce back. By Thursday of the previous week, Bitcoin had dropped more than 11%, reaching a low of $91,290. Following a 5.10% recovery and reaching a price level of $95,945, Bitcoin fell again, dipping below $90,000 momentarily.
Currently, bullish forces are pushing Bitcoin’s value higher, with it reaching $97,270 at a point. As I type this, each Bitcoin is being traded for around $96,500. Max Keiser, a Bitcoin advocate, tweeted on Monday that while the price has dipped, the Bitcoin network has achieved unprecedented levels of robustness and stability as the hashrate and mining difficulty have reached all-time highs.
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2025-01-14 14:56