BitMine chairman Tom Lee, known for his outspoken optimism about bitcoin, is significantly dialing back his earlier prediction that the cryptocurrency would surge to $250,000 by the end of 2025. In a new interview with CNBC, Lee referred to his price target as merely “maybe,” instead focusing on a potential return to the previous record of $125,000.
“I still think it’s very likely that bitcoin will be above $100,000 by the end of the year, and maybe even a new high,” Lee said on Wednesday. This marks the first time he has publicly eased his stance after months of sticking to the $250,000 forecast.
Other Crypto Analysts Were More Cautious #
Lee’s price target was considered one of the most optimistic in the sector. Galaxy Digital CEO Mike Novogratz warned back in October that “crazy things” would need to happen for bitcoin to reach a quarter-million dollars in such a short time. Other fund managers also called Lee’s scenario “very ambitious.” However, many professionals still anticipate significant price jumps, as bitcoin remains a market where unexpected surges—both up and down—are common.
Lee Remains Positive Despite Caution #
Despite his more cautious tone, Lee expects several very strong trading days before the end of 2025. He pointed to a familiar pattern: bitcoin often makes its biggest gains in just 10 days per year.
This idea is widely shared in the industry. Bitwise CEO Hunter Horsley wrote in February on X that investors who miss these days “miss out on almost all returns.” In 2024, those 10 days accounted for 52% of gains, while the remaining trading sessions averaged -15%.
The bitcoin price has been under pressure since October 10 due to a liquidation wave of over €19 billion. This began after former President Donald Trump announced plans to impose a 100% tariff on Chinese goods. On X, this news is now seen as one of the main causes of the recent dip.
However, some recovery is visible: on Wednesday, bitcoin climbed back above €79,000 after six days below that level. Historically, November has also been a strong month for bitcoin.