- Tom Lee predicts Bitcoin to hit $25k by the end of this year and possibly $125k by 2022.
- He stated that wider adoption would make this happen.
During an interview on the Bloomberg Market show, Tom Lee, Fundstrat’s senior partner and JPMorgan’s ex-chief, stated that the price of Bitcoin would become at least $25k by the end of 2018. Lee further holds that the bitcoin price would rise to about $125k by 2022. These predictions seem bullish.
Fundstrat released a report stating that Bitcoin would witness a fierce recovery which should be completed by July this year. After this recovery, the price of Bitcoin will begin to head towards newer highs towards the second half of this year. To this, Lee added that in the second half of 2018, Bitcoin would be more widely used. And this wide acceptance will push its price higher.
Lee considers both Bitcoin and Ether as the real blue chips among digital currencies and advised investors to consider investing in both BTC and ETH. He stated that when these cryptocurrencies are invested in, investors can be assured of enormous returns over a longer period of time.
When the initial prediction was made by Tom Lee, the popular Bitcoin forecaster stated that the price of Bitcoin would not go beyond $9k and would hit $25k by mid-2018, rising higher than twice its initial price of about $10k in Jan.:
“We expect bitcoin’s major low to be $9,000, and we would be aggressive buyers around that level.”
Against Lee’s prediction, the price of Bitcoin fell below $9k to as low as $6k. However, the price soared to close to $11k in March before dropping currently to about $8k. lee stated that his prediction is possible as more institutional investors would adopt Bitcoin, hence, steadily increasing the Bitcoin’s user base which ill subsequently increases the price.
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