Published on 14 Jan 2025 on Benzinga
Tom Lee Forecasts Bitcoin Could Dip To $50K, But Maintains Long-Term Target Of...
Wall Street strategist Tom Lee suggests Bitcoin BTC/USD could retreat significantly from recent highs, potentially testing support levels at $70,000 or even the $50,000 range, while maintaining a long-term bullish stance targeting $250,000.
What Happened: Speaking on CNBC’s ‘Squawk Box’, Lee, who serves as Fundstrat Capital‘s Chief Investment Officer, characterized the cryptocurrency’s recent 15% decline from all-time highs as a “normal correction” for a volatile asset. Bitcoin currently trades near $95,000, down about 6.6% over the past month.