Home BTC/ETH Fundstrat’s Tom Lee Calls for Bitcoin’s End of Year Target as High as $200K- $250K

Fundstrat’s Tom Lee Calls for Bitcoin’s End of Year Target as High as $200K- $250K

by crpt os


The consolidation between $90,000 and $100,000 for bitcoin (BTC), continues to play with investor sentiment, swinging from fear to greed.

On Monday, bitcoin fell below $90,000, while it is above $96,500 on Tuesday, up over 8% . Bitcoin bull Tom Lee, head of research at Fundstrat, told CNBC on Monday that he sees this current correction in bitcoin as normal.

“Bitcoin is down 15% from its highs for a volatile asset, which is a normal correction,” he said.

Glassnode data shows that bitcoin in this current cycle has seen relatively mild drawdowns of around 15%-20%, much smaller than previous bull market drawdowns, which saw as much as 30%-50% drawdowns, showing the asset is becoming more mature.

According to Lee, $70,000 is a line in the sand, which is a strong support level. They refer to a methodology called Fibonacci levels, or retracement periods, essentially where bitcoin pulls back from where it started its rally. Lee also believes the $50,000 level can be tested if the prior $70,000 levels do not hold. Common Fibonacci levels from the all-time high that analysts look for are 23.6%, 38.2%, 50% and 61.8%

BTC: Fibonacci Level (Glassnode)

Despite a short-term correction, Lee still thinks bitcoin will be one of the standout assets for 2025 and remains bullish on end-of-year targets of $200,000 to $250,000.





Source link

Related Articles

xxxanti beeztube.mobi hot sexy mp4 menyoujan hentaitgp.net jason voorhees hentai indian soft core chupatube.net youjzz ez2 may 8 2023 pinoycinema.org ahensya ng pamahalaan pakistani chut ki chudai pimpmovs.com www xvedio dost ke papa zztube.mobi 300mbfilms.in صور مص الزب arabporna.net نهر العطش لمن تشعر بالحرمان movierulz plz.in bustyporntube.info how to make rangoli video 穂高ゆうき simozo.net 四十路五十路 ロシアav javvideos.net 君島みお 無修正 افلام سكس في المطبخ annarivas.net فيلم سكس قديم rashmi hot videos porncorn.info audiosexstories b grade latest nesaporn.pro high school girls sex videos real life cam eroebony.info painfull porn exbii adult pics teacherporntrends.com nepali school sex