Tom Lee, one of Bitcoin’s most bullish forecasters predicted that Bitcoin’s price will hit $25,000 by the end of 2018 as said in an interview with CNBC. The Wall Street strategist told CNBC that he thinks the price of Bitcoin will reach $125,000 by 2022. Lee’s previous prediction was for BTC to reach $25,000 by 2022.
Bullish Remarks After A Volatile Week
Lee’s bullish prediction comes just after a week of red in the crypto market. With Bitcoin’s price dipping below $10,000 and Litecoin’s price dropping below $200, this crash was more severe than December’s. Lee’s predicted price floor for Bitcoin is $9,000 and advises investors to take advantage of these market dips. Along with Bitcoin insight, he also predicted Ethereum would see growth of about 90 percent along with NEO at roughly 50 percent.
“We expect bitcoin’s major low to be $9,000, and we would be aggressive buyers around that level … We view this $9,000 as the biggest buying opportunity in 2018.”
The cryptocurrency markets have since rallied with Bitcoin up about 15 percent as well as altcoins climbing back up over the past 24 hours.