Fundstrat’s Tom Lee is Confident Bitcoin Will Surpass $100,000 by Year End

Tom Lee remains optimistic Bitcoin will exceed $100,000 by the end of the year, predicting a major pump after defeating the psychological barrier.

Bitcoin has experienced significant price fluctuations recently, resembling a rollercoaster ride. After dipping below $91,000 last Tuesday, the cryptocurrency quickly bounced back above $98,000.

However, resistance at this level has prevented Bitcoin from surpassing the $100,000 threshold. While the market navigates these ups and downs, experts remain divided on Bitcoin’s near-term potential.

Tom Lee, the Chief Investment Officer at Fundstrat Capital, reiterated his bullish stance on Bitcoin during an appearance on CNBC. He confirmed that Bitcoin is facing a psychological barrier around the $100,000 level, as it is a key point of interest for market participants.

Despite this, Lee remains confident that Bitcoin will close the year at six figures. He emphasized that if Bitcoin breaks the $100,000 threshold, a major surge could follow, attracting more traders.

Meanwhile, Lee’s outlook extends beyond the immediate price action. In a separate interview on November 29, he predicted that Bitcoin could reach $250,000 within the next 12 months. He linked this forecast to historical trends, noting Bitcoin’s substantial price increases following previous halving cycles. 

Lee also pointed to shifts in U.S. political support for cryptocurrencies, suggesting that Bitcoin could benefit from increased legitimacy, particularly if the U.S. government begins accumulating Bitcoin as part of its strategic reserves. He believes that institutional adoption, exemplified by companies like MicroStrategy, will also play a significant role in driving Bitcoin’s price upward.

Bearish Sentiment Amidst Market Optimism

While Lee’s outlook remains bullish, other analysts, including Ali Martinez, have raised concerns about Bitcoin’s short-term price trajectory. Martinez acknowledged the ongoing bearish narrative within the market, citing various indicators of a potential correction. However, he maintains that Bitcoin’s long-term outlook remains positive.

Several prominent figures, such as Sheldon the Sniper and Robert Kiyosaki, have also expressed caution regarding Bitcoin’s future. Sheldon forecasts a possible downturn that could push Bitcoin below $90,000, attributing this to recent bearish candle closures. While maintaining his belief in Bitcoin’s eventual rise to $250,000 by 2025, Kiyosaki warned of a potential drop to $60,000 before any rebound occurs.