As bitcoin plunges, mega-bull Tom Lee stands by his $25,000 target

[bbc.reporter]

I reckon this is the news that the bulls want hear. Tom Lee of Fundstrat is still standing by on his prediction that bitcoin will reach $25,000 this year, an all time high. Also know that this is another declaration by the analyst, after already saying it the other day.

He stood by it when bitcoin plunged below $10,000, and he did it again when it went below $9,000 and now again below $8,000. But how long will this man stand by it?



Fundstrat's Tom Lee is standing his ground on bitcoin soaring to $25,000.

On Wednesday, the cryptocurrency plunged below $8,000 and traded at around $7,500, essentially giving up most of the gains bitcoin had managed to make from mid-April to early May after hitting 2018 lows.

But not only does Lee believe Wednesday's drop is solely due to "typical crypto volatility,"

And finally, data compiled by Fundstrat show a historical trend that has Lee encouraging investors to hold onto bitcoin.

"Historically, 10 days comprise all the performance in any single year of bitcoin's price," he said. "If you just took out those 10 days, bitcoin's down 25 percent a year."

"So as miserable as it feels holding bitcoin at $8,000, the move from $8,000 to $25,000 will happen in a handful of days," he added.

Read in full https://www.cnbc.com/2018/05/23/as-bitcoin-plunges-mega-bull-tom-lee-stands-by-his-25000-target.html

[pooya87]

I reckon this is the news that the bulls want hear.

only drama queens love hearing news that supports their views (bulls or bears). real bulls want action, they want to see the bull run itself

Fundstrat's Tom Lee is standing his ground on bitcoin soaring to $25,000.

as much as i want him to be correct but i no longer see an ATH this year. specially if $7k stays or even if it goes any lower than this. the problem with drops like this is that the lower it goes and as it stays on a downtrend for a long time the more time it will take to recover from it afterwards. the trend won't just reverse overnight and the money is not going to come back in suddenly.

[davis196]

Tom Lee's predictions never happen,so let`s hope that the price will reach 20K or 30K USD,I'm sure that it won't reach 25K USD.This guy just wants to stabilize the btc price and stop the bearish trend,by using his popularity and influence and spreading optimism acorss the crypto community.He is an "enemy" of the FUDsters.

[Slow death]

he made many price prediction:


Fundstrat’s Lee Admits Poor Prediction of Bitcoin Rally, Still Expects $25k Price by Year End

Wall Street Strategist Tom Lee Still ‘Confident’ Bitcoin Price Will Reach $25K In 2018

Wall Street Bitcoin Bull Tom Lee Predicts “Massive Outflow” Of Crypto Before Tax Day

Tom Lee Predicts Bitcoin To Reach $91,000 by March 2020, Based On Performances After Past Dips

Fundstrat’s Tom Lee Reports Bitcoin Mining Now Less Profitable Due To Falling BTC Prices

Fundstrat’s Tom Lee Stays Bullish On BTC Price, Sees Major Firms Joining Crypto Sphere

[speem28]

Tom Lee's predictions never happen,so let`s hope that the price will reach 20K or 30K USD,I'm sure that it won't reach 25K USD.This guy just wants to stabilize the btc price and stop the bearish trend,by using his popularity and influence and spreading optimism acorss the crypto community.He is an "enemy" of the FUDsters.

He has made a lot of predictions as stated in the above post and sooner or later, one of his predictions will come true. Let's just hope that this kind of predictions although it may seem a far cry, will motivate weak-handed people to never let go of their fair share of bitcoin as it will only contribute to the dip that is currently happening in the market.

[el kaka22]

Tom Lee's predictions never happen,so let`s hope that the price will reach 20K or 30K USD,I'm sure that it won't reach 25K USD.This guy just wants to stabilize the btc price and stop the bearish trend,by using his popularity and influence and spreading optimism acorss the crypto community.He is an "enemy" of the FUDsters.

At least he is better than our dear McAfee with all his bullshit $1m theories within few years, lol. He is on the bull’s side or probably faking it, who knows ? I know for sure, when it is time, we will definitely get to know. He never said bitcoin will be soaring to $25,000 immediately but he said this year and we cannot say he is wrong yet until this year ends.

I guess he played that part well, knowing that there is a possibility of having a few rally before the end of the year towards the previous ATH and maybe breaking it towards $25k but time obviously will tell.

[The Sceptical Chymist]

But how long will this man stand by it?

He'll stand by it until time either proves him right or wrong, OR until people stop listening to him.

This is just like the internet stock analysts back in the day, where they made their name by predicting outrageous valuations for ill-conceived businesses that never stood a chance of making a profit.  Henry Blodget and others come to mind.  It's much the same with this guy.  Never heard of him, and the only reason I'm hearing of him now is that he's predicting a bitcoin price that's much higher than where bitcoin currently is--though it's a price that's not too far from that which has already been achieved.

This particular prediction is meh to me.  Anyone can say anything, and if this guy can say with a straight face why exactly bitcoin is going to reach $25k, it just means he should be playing poker for a living.

[inooll00]

I do not think he really does speculate when his predictions are far from reality. He only makes predictions based on his supportiveness of bitcoin.
Maybe in the near future he will be considered by investors as entertainer when bitcoin prices are down.

[timerland]

This is just like the internet stock analysts back in the day, where they made their name by predicting outrageous valuations for ill-conceived businesses that never stood a chance of making a profit.  Henry Blodget and others come to mind.  It's much the same with this guy.  Never heard of him, and the only reason I'm hearing of him now is that he's predicting a bitcoin price that's much higher than where bitcoin currently is--though it's a price that's not too far from that which has already been achieved.

This particular prediction is meh to me.  Anyone can say anything, and if this guy can say with a straight face why exactly bitcoin is going to reach $25k, it just means he should be playing poker for a living.

Exactly.

It simply makes no sense to be bullish on bitcoin without any consideration of the actual price of bitcoin or its trends. This guy is literally only known because of his predictions on bitcoin price, which is really without any sort of basis.

All of his predictions are bullish, it's just a question of how bullish. His predictions actually become "predictable" after a while. These predictions come out all the time, Tom Lee just happens to be one of the more well known guys and that's why his articles are getting media coverage.

I'm not saying that $25k isn't possible by the end of the year. It's possible, but unlikely.

[sunanbonang]

he was making a joke, this is the umpteenth time I heard him make a prediction.
he will stop after people no longer care about the predictions he makes.

[bbc.reporter]

This is just like the internet stock analysts back in the day, where they made their name by predicting outrageous valuations for ill-conceived businesses that never stood a chance of making a profit.  Henry Blodget and others come to mind.  It's much the same with this guy.  Never heard of him, and the only reason I'm hearing of him now is that he's predicting a bitcoin price that's much higher than where bitcoin currently is--though it's a price that's not too far from that which has already been achieved.

This particular prediction is meh to me.  Anyone can say anything, and if this guy can say with a straight face why exactly bitcoin is going to reach $25k, it just means he should be playing poker for a living.

Exactly.

It simply makes no sense to be bullish on bitcoin without any consideration of the actual price of bitcoin or its trends. This guy is literally only known because of his predictions on bitcoin price, which is really without any sort of basis.

All of his predictions are bullish, it's just a question of how bullish. His predictions actually become "predictable" after a while. These predictions come out all the time, Tom Lee just happens to be one of the more well known guys and that's why his articles are getting media coverage.

I'm not saying that $25k isn't possible by the end of the year. It's possible, but unlikely.

He might be like one of those altcoin bagholders who bought on the top only to see the price collapse. They then start shilling their coins with much vigor almost sounding like scammers hehehe.

[gabmen]

This is just like the internet stock analysts back in the day, where they made their name by predicting outrageous valuations for ill-conceived businesses that never stood a chance of making a profit.  Henry Blodget and others come to mind.  It's much the same with this guy.  Never heard of him, and the only reason I'm hearing of him now is that he's predicting a bitcoin price that's much higher than where bitcoin currently is--though it's a price that's not too far from that which has already been achieved.

This particular prediction is meh to me.  Anyone can say anything, and if this guy can say with a straight face why exactly bitcoin is going to reach $25k, it just means he should be playing poker for a living.

Exactly.

It simply makes no sense to be bullish on bitcoin without any consideration of the actual price of bitcoin or its trends. This guy is literally only known because of his predictions on bitcoin price, which is really without any sort of basis.

All of his predictions are bullish, it's just a question of how bullish. His predictions actually become "predictable" after a while. These predictions come out all the time, Tom Lee just happens to be one of the more well known guys and that's why his articles are getting media coverage.

I'm not saying that $25k isn't possible by the end of the year. It's possible, but unlikely.

He might be like one of those altcoin bagholders who bought on the top only to see the price collapse. They then start shilling their coins with much vigor almost sounding like scammers hehehe.

Well i think 25k is even a bit more reachable than other predictions that places in the price above 30k by the end of the year. Or 1million in 2 years. I'd say i agree with you guys that it's very unlikely these predictions will be met in the time these guys predicted though we've seen how a little fomo can boost the price quite high in little time last december. So i'm just keepig my fingers crossed here.

[HabBear]

I reckon this is the news that the bulls want hear. Tom Lee of Fundstrat is still standing by on his prediction that bitcoin will reach $25,000 this year, an all time high.

Any bulls relying on a prediction from Tom Lee are fools!

He stood by it when bitcoin plunged below $10,000, and he did it again when it went below $9,000 and now again below $8,000. But how long will this man stand by it?

Everything Tom Lee attaches his name to turns to shit. He couldn't predict the reliable rise of the sun tomorrow, let alone the goings of bitcoin! Every prediction he makes is WRONG!

[Wind_FURY]

If there's a pattern of crashes anytime Tom Lee makes a prediction, then would that not be a good signal to buy the dip?

Plus OP, that's not the right picture of Tom Lee. That looks like an Asian trader who lost his shirt in Bitcoin. Hahaha.

[Pursuer]

nah, it is no longer "typical crypto volatility" as he puts it. it is much bigger than that. we have seen price staying strongly above $8.5k-$9k levels and even have the tendency to break $10k and the market was perfectly ready for it too. and any failure would have meant a temporary drop down to support level before going back up again.
but as we see price dropped and then followed down more. and now it is stuck in $7k range with not much money coming in anymore to buy it up. this smells like manipulation to me. and because of that any rise to ATH and beyond has to wait until either manipulation ends or price reaches a bottom where everyone else sees as a good chance to buy bitcoin and they can no longer fight the buying power and price reverses up.

[dothebeats]

I wouldn't really take a single man's analysis and predictions too seriously and I'd still seek for any unbiased analysis. Die-hard bulls often tend to get too biased on their predictions and they forget to become realistic and consider the current market conditions. Also, for all we know, this guy could just be masking up the overall market sentiment and urges people to buy more so that he/they can sell on the poor people. There's too many reasons on ignoring the fact that the bearish sentiment is stronger than the bulls' and staying bullish despite the overall crash with no signs of rebounds any time soon.

[1Referee]

and now it is stuck in $7k range with not much money coming in anymore to buy it up. this smells like manipulation to me.

Money is coming in, but it's not buying up the market in a craze pace, and it shouldn't be doing so without anything justifying that. If the group responsible for bumping the market up and down isn't doing anything, the market crawls back up slowly, that's clearly visible. These whales however don't see any point in letting the market go up slowly because they like the taste of money with their high leverage short-long trades.

It's Bitcoin's unregulated nature allowing these whales to do this, but once institutions bring in the much needed liquidity, these whales will be massively outclassed and won't be able to do shit anymore. There is always whale above whale. Current whales exploit the extremely thin market and the overall downish sentiment. It won't last for ever. Bitcoin cycles through these phases quickly and we are nearly there.

[Denker]

Whatever Tom Lee has to say, I take it with a grain of salt.
$25k is some stretch to be honest! And as far as I know Tom was correct once or twice regarding Bitcoin and crypto. All of his other predictions got proved wrong. So his track record isn't the best.
I like to stay more realistic, although I'm very bullish long term. But for this year I can not see another ATH happen in BTC.
And that's ok. Middle to end of 2019 will be the preparation for the 2020 halvening. Time is running so fast. Hold hard and just be patient. Buy BTC whenever you can. See the actual market situation as a gift and accumulate!

[bbc.reporter]

It appears that no one in the subforum is happy in any prediction anymore hehehe. If I post a bearish article, someone would say that I am spreading doom. If I post a bullish article, someone would say that it will not happen.

In any case, those stupid, bearish analysts from Wall Street who do not know anything about the cryptospace were correct.

[BLAST2MARS]

I think Tom Lee is the reason why bitcoin won't go up. Everytime he shows up and makes predictions, it affect the whole market in a negative way. His predictions does the opposite. I'm now worried on the year-end price of btc because of his predictions.