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

[zazarb]

Everyone is free to predict bitcoin for the future. Tom Lee predict 20k-25k and Pantera capital predict about 20k so these two people guesses for this year are the lowest and i think has the bisgest chances that's possible to happen. Of course Tom Lee have not predict anything correct untill now.

[Idrisu]

Bitcoin is going to touch $25,000 in five to six months to come especially if the ETF approved. The market has been moving in a sideline for more than eight days now and I think a break out will push bitcoin upwards that may cross $10,000 ahead of September ETF approval.

[Roccker]

Julian Hosp predicted 50k at the beginning of 2018, now he cancelled that prediction (he estimates about 12k now)

At the beginning of the year it seems there were countless gurus who said '50k'

https://www.bitcoinprice.com/predictions/ 

https://coincodex.com/article/1779/bitcoin-price-predictions-2018/   

[BorisVirla]

I would very much like to believe, but still understand that his predictions never came true.

[bbc.reporter]

Funny question, but serious. It will be September in less than 2 weeks from now, if someone was to ask Tom Lee if his $25,000 target on December is still possible, what would his answer be? hehehe

he didn't really change his ridiculous prediction when the bear market started and it became clear that the big rise of 2017 has come to an end, so i don't think he is going to change it now either. if he wanted to do it then he would have made a more reasonable one like reaching $15k or something like that by the end of the year

Someone should remind Tom Lee on social media that December is now only 4 months away hehehe. He has also been telling people in CNBC to not sell their stocks because the Dow Jones will make one big move this year.

I reckon Tom likes to buy into bubbles hehehe.

[bbc.reporter]

Tom Lee stands by his $20,000 target again. That kind of bullishness is very impressive. I reckon someone should commision that a statue to be made in his image and declare him a bitcoin super hero hehehe.

But what might be his most convincing argument.

Bitcoin jumped from $6000 in the middle of last November to $20,000 by year’s end.

Read in full https://www.ccn.com/bitcoin-price-tom-lee-is-standing-by-his-20000-end-of-year-target/

[bbc.reporter]

It became evident in my mind that Tom Lee's $20,000 to $25,000 target is as easy to reach for something that is as volatile as bitcoin.

Will we, the critics of the forum who are uneducated in economics and finance be proven as the monkeys or will Tom Lee be the monkey?

[btc_angela]

It became evident in my mind that Tom Lee's $20,000 to $25,000 target is as easy to reach for something that is as volatile as bitcoin.

Will we, the critics of the forum who are uneducated in economics and finance be proven as the monkeys or will Tom Lee be the monkey?

Your guess is as good as mine because it boils down as what predictions could enter the real of reality. If bitcoin goes to $20K again then its proven that we all uneducated in economics are the fool. hehehe. But then again the market is very fragile and can go either direction as fast as Thanos (Theymos) snapped his fingers and eliminate 50% of those uneducated monkeys in the forum. 

[bbc.reporter]

Is everyone now liking Tom Lee's prediction? The absence of countering responses towards it in the forum might also be an act of a bull signal hehe.

[Pursuer]

It became evident in my mind that Tom Lee's $20,000 to $25,000 target is as easy to reach for something that is as volatile as bitcoin.

it is easy to reach a high price and rise a ridiculously big percentage but not always. so far these big rises have always been after a bull run not the start of it. for instance we first have a slow rise and a bull run and price goes up a lot then we have that big-bang where price shoots to the moon suddenly and then enters a big ass bubble which bursts later on.
looking at 2017 as the example we had the slow rise to $1000, even to $2000 and then we entered the bull market and were rising well enough with a very strong support to near $8500 to $9000 and then the end of the year began with that big ass shooting to the moon where price suddenly went to $20k and fell down. in fact this is one of the reasons why I say bitcoin is underpriced and should be back above $10k already.
in any case the rise to $20-25k is not going to happen because it is still a big shoot up and whatever this market is, it is not a bull market yet.

[bbc.reporter]

@Pursuer. But it really has a chance to slowly move up to $20k-$25k. If by the end of October or the middle of November bitcoin is stable on $15,000, then 20,000 is not that far away I reckon. Would it until then that we start to agree with Tom Lee and admit that we have made a mistake?

[pooya87]

Is everyone now liking Tom Lee's prediction? The absence of countering responses towards it in the forum might also be an act of a bull signal hehe.

nah, it's just that people usually don't care much about rise predictions during down times like this when there is no bull run going on yet. if price reaches $9k today they will all start paying attention to $20k, $100k predictions again.
also they are more interested in short term trends around here like whether bitcoin will reach $9k before the ETF rejection or will it remain here. and how much will it fall after the rejection.

[BitHodler]

@Pursuer. But it really has a chance to slowly move up to $20k-$25k. If by the end of October or the middle of November bitcoin is stable on $15,000, then 20,000 is not that far away I reckon. Would it until then that we start to agree with Tom Lee and admit that we have made a mistake?

I think you add too much value to his predictions, and that while he didn't do much to be worthy of that confidence in him. All he did lately was play the perma bull that doesn't seem to be will to acknowledge the bear market.

You know that his behavior is similar to that of all the bag holders desperately hoping for a recovery to the $20,000 mark? I strongly think that he's deep under water due to his overly bullish view on the market.

It could very well be that he was amongst those who bought in near the peak hoping for the price to hit $30,000 or even $50,000 in 2018. If people keep shilling a coin for that long, you know there is an underlying cause

[Strufmbae]

Bitcoin is going to touch $25,000 in five to six months to come especially if the ETF approved. The market has been moving in a sideline for more than eight days now and I think a break out will push bitcoin upwards that may cross $10,000 ahead of September ETF approval.

That is not a big factor to consider, whales are always one of it,  try to imagine if etf will be rejected and then for sure dumping of cryptocurrency will be fast as long as they are in rush.  If you will notice tom lee is one of the known person who can touch mentally state of crypto investors most of his predictions are accurate.

[1Referee]

It could very well be that he was amongst those who bought in near the peak hoping for the price to hit $30,000 or even $50,000 in 2018. If people keep shilling a coin for that long, you know there is an underlying cause

That's actually something I haven't thought about.

It reminds me of the crypto twins on youtube who are shilling the living crap out of XRP and EOS, both tokens they went full fomo on around their higher levels. It's a damn shame that the internet is filled with these idiots. This is exactly why the most recent generation of newbies are so fixated on pump and dump coins. Parasites they are.

Tom Lee just needs a break. By now everyone knows what his opinion is and there is no need for more rehashed statements. Perhaps he should browse through social media for once to see how people think about him. He's making it only worse for himself like this, especially with how the price keeps going down.

[pooya87]

It could very well be that he was amongst those who bought in near the peak hoping for the price to hit $30,000 or even $50,000 in 2018. If people keep shilling a coin for that long, you know there is an underlying cause

i can not possibly say why he is sticking to his prediction although it has been unrealistic for a while now and it is starting to become weird! but  considering Lee has been around longer than the ATH at $20k and have been speculating like bull prior to this, i would say what you posted is unlikely to be the case.

[bbc.reporter]

But what happened to the saying buy when there is blood on the streets? Would everyone not agree that this is the best time to buy while the public is skeptical?

[hatshepsut93]

But what happened to the saying buy when there is blood on the streets? Would everyone not agree that this is the best time to buy while the public is skeptical?

Most people agree that now is a good time to buy Bitcoin, because we're in a bear market and a new bull run will eventually start, so there's little arguing here, some people just think that we may reach even lower prices like $5k or $4k. But experienced Bitcoiners are kinda annoyed by these "new ATH in 2018" predictions because of how unrealistic they are, it just promotes delusional get rich quick mentality instead of realistic view that there are cycles, that Bitcoin is immature. And get rich quick mentality is bad because investors are nervous all the time and eventually become disappointed and quit, even at a loss, while realists hodl and slowly accumulate to get big profit in long term.

[Wind_FURY]

Buying when there's blood on the steets? Is that the same as "buying the dip"? If they're the same, then I believe will need 10 maxipads. I am dripping in my own blood! Hahaha.