Bitcoin Price Predictions Shift
BitMine chair Tom Lee scaled back his widely promoted $250,000 year-end Bitcoin forecast during a CNBC interview on Wednesday. He now considers it only a possibility that Bitcoin could reclaim its October all-time high of $125,100 before the end of 2025.
Lee stated Bitcoin will very likely trade above $100,000 before year-end, with a new high remaining as a maybe. This marks the first time he has publicly softened the $250,000 price target he initially floated earlier in 2024 and continued to reiterate through early October.
Galaxy Digital CEO Mike Novogratz warned around October that “crazy stuff” would need to happen for Bitcoin to reach that level. Lee's prediction ranked among the more bullish year-end targets in the crypto space.
Historical Bitcoin Performance and Market Dynamics
The BitMine chair pointed out that Bitcoin typically makes its move in just 10 days annually. Some of Bitcoin's best days may still happen before year-end, he said, with 35 days remaining until 2025 concludes.
Bitwise CEO Hunter Horsley stated in a February 2024 X post that investors cannot predict when those days will occur. Missing Bitcoin's best 10 days historically means missing nearly all of its returns, an idea widely shared among industry executives.
Bitcoin's strongest 10 days in 2024 delivered a combined return of 52%. The remaining 355 days generated an average return of -15%, according to data analysis.
Economist Timothy Peterson said on Monday that Bitcoin's bottom may already be in or will occur this week. Lee's track record on Bitcoin predictions shows mixed results, with his January 2018 forecast of $125,000 by 2022 taking three additional years to materialize in October 2025.
Lee made accurate calls in July 2017, projecting Bitcoin could reach $20,000 by 2022 in a base-case scenario. A more bullish outlook suggested $55,000 over the same period.
Recent Market Pressures on Bitcoin
The asset has been in a downtrend since Oct. 10, pressured by a $19 billion liquidation across the crypto market. President Donald Trump's announcement of a 100% tariff on Chinese goods triggered the market-wide sell-off. Bitcoin only reclaimed the $90,000 level on Wednesday after spending six consecutive days below it, despite November historically ranking as the strongest month on average for Bitcoin since 2013.