Well-known analyst Tom Lee, the Head of Research at Fundstrat, is doubling down on his prediction that Bitcoin's (BTC) price will reach $150,000
Tom Lee, a well-known analyst and the Head of Research at Fundstrat, is maintaining his bullish prediction for Bitcoin (BTC), despite the cryptocurrency sliding further on Monday. Lee continues to expect BTC to reach $150,000 or more by year’s end.
Lee’s bullishness comes as Bitcoin and other cryptocurrencies are trading lower on Monday, with the price of BTC falling below $85,000. Bitcoin is now down nearly 25% from its January all-time high of just over $109,000, which occurred on the day of U.S. President Donald Trump’s inauguration.
During an interview on CNBC, Lee said he still expects BTC to be trading at $150,000 or higher by year’s end. Lee pointed out that Bitcoin’s current struggles aren’t due to negative news related to crypto but rather to cyclical market forces, which he expects to reverse later in the year.
According to Lee, BTC’s price could fall as low as $62,000 in the near-term but still see’s BTC’s price finishing the year above $150,000. The current selloff in crypto also comes amid a sharp pullback in stocks, with the technology-laden Nasdaq 100 flirting with a 10% correction.
Risk assets are pulling back over concerns related to President Trump’s trade tariffs and signs the U.S. economy is cooling. However, Lee says that a downturn in the American economy could prompt the U.S. Federal Reserve to accelerate interest rate cuts, which could quickly reignvigorate stocks and crypto.
Futures markets are pricing in 75-basis points of interest rate cuts this year, which would lower the benchmark Federal Funds Rate to a range of 3.50% to 3.75%.
Most Wall Street firms don’t offer ratings or price targets on Bitcoin, so we’ll look at the cryptocurrency’s three-month performance instead. As one can see in the chart below, the price of BTC has declined 11.19% in the last 12 weeks.
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