Tom Lee: "Bitcoin could surpass $250,000 within this year"

JOON HYOUNG LEE

Summary

Tom Lee, co-founder of Fundstrat, stated that Bitcoin could rise to $250,000 by the end of this year.
He indicated that Bitcoin's four-year cycle may have ended due to growing institutional interest.
Global investment banks and analytics firms are also predicting a further increase in Bitcoin prices this year.

*Tom Lee, Chairman of Fundstrat, speaking during a podcast interview. Photo credit: Natalie Brunell X (X) screenshot*

There are predictions that the price of Bitcoin (BTC) could surpass $250,000 this year.

According to Cointelegraph on the 6th (local time), Tom Lee, co-founder of Fundstrat and chairman of Bitcoin, stated in a podcast interview on the previous day (5th), "The price of Bitcoin could exceed $120,000 by the end of this year, reaching $200,000, and possibly even $250,000." Previously, at the end of last year, Tom Lee predicted that the price of Bitcoin could reach $250,000 within the following twelve months.

He also mentioned the four-year Bitcoin cycle. Tom Lee said, "With increased institutional interest, Bitcoin's four-year cycle may have ended." Matt Hougan, Chief Investment Officer (CIO) at Bitwise, also recently commented that the Bitcoin cycle is "dead."

Market participants also expect Bitcoin prices to rise further by the end of the year. Global investment bank Standard Chartered (SC) set a year-end price target of $200,000 for Bitcoin in May. Cryptocurrency analytics firm 10x Research predicted a year-end Bitcoin price target of $160,000.

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