Bitcoin (BTC) experienced major declines in October and November, falling to $80,000, but has started to recover in recent days.
Although bullish expectations continue for BTC, which has risen above $90,000, predictions have begun to decline.
At this point, Fundstrat co-founder and BitMine president Tom Lee, known for his bold predictions about Bitcoin and the cryptocurrency market, also updated his year-end BTC forecast.
Accordingly, Tom Lee abandoned his $250,000 year-end prediction for BTC.
Speaking to CNBC, big bull Lee said that there is a high probability that Bitcoin will surpass $100,000 by the end of the year and that a new ATH could also be possible.
“I still think it’s very possible that Bitcoin will break above $100,000 before the end of the year, perhaps even reaching a new high.”
“I still think there will be some good days before the end of the year,” Lee said, noting Bitcoin’s tendency to make most of its gains each year in a small number of trading days, even though the end of 2025 is 35 days away. “Bitcoin usually makes big gains in just 10 days a year,” he said.
According to historical data, Bitcoin’s strongest 10 days in 2024 yielded a total of 52% return, while the remaining 355 days yielded an average of 15% return.
Lee had previously predicted that BTC would reach $250,000 by the end of the year.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/major-bull-tom-lee-gives-up-on-250k-updates-year-end-bitcoin-btc-prediction/
