Fundstrat co-founder and BitMine chairman Tom Lee said Bitcoin may reach $250,000 in 2025, despite other crypto analysts cautiously pulling back targets.
“I think Bitcoin should really build upon this 120 before the end of the year; 200,000, maybe, 250,” Lee told Natalie Brunell on the Coin Stories podcast on Tuesday.
Last November, Lee gave a 12-month deadline for Bitcoin (BTC) to reach $250,000.
Not all analysts are as bullish as Tom Lee
While analysts like BitMEX co-founder Arthur Hayes and Unchained’s market research director Joe Burnett have recently echoed a similar price target for the year, others have adopted a more cautious outlook with less than five months left until the end of 2025.
In May, Bernstein and Standard Chartered set their year-end Bitcoin targets at $200,000, while 10x Research’s Markus Thielen recently projected a more modest $160,000.
Lee said there is a probability that the four-year cycle has ended for Bitcoin due to the mounting institutional interest in Bitcoin, an increasingly shared belief among executives in the industry.
However, crypto analyst Rekt Capital recently said that if the Bitcoin cycle follows the 2020 pattern, the market will likely peak in October, which is 550 days after the Bitcoin halving in April 2024.
Bitwise chief investment officer Matt Hougan recently called the four-year halving “dead” and predicted that 2026 will be an “up year” for Bitcoin.
Crypto market sentiment shifts to “neutral”
Lee’s optimistic target comes as Bitcoin has seen a volatile week.
After reaching a new all-time high of $123,100 on July 14, BTC pulled back to $112,044 over the weekend and was trading around $113,000 at the time of publication, according to Nansen.
There’s also been a recent tumble in crypto market sentiment. The Crypto Fear & Greed Index, which measures overall market sentiment, shifted from a “Greed” score of 60 on Tuesday to a “Neutral” score of 54 on Wednesday.
Related: Bitcoin analysis warns BTC price ‘going lower’ first as $113K slips
Lee said skepticism is a positive in any financial market. “It’s a sign that there is still price discovery underway. Because if people were all bullish, in the public realm, when everyone is bullish, then it’s probably in the price,” he said.
“When there is plenty of skepticism and reasons to be skeptical, it allows markets to have positive surprise.”
Lee forecasts that Bitcoin should reach $1 million “over time.”
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