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$BTC Target Softened as Tom Lee Revises Year-End Price Forecast

BitMine chair Tom Lee scaled back his widely promoted $250,000 year-end $BTC forecast during a CNBC interview on Wednesday. He now considers it only a possibility that Bitcoin could reclaim its October all-time high of $125,100 before the end of 2025.

Lee stated #Bitcoin will very likely trade above $100,000 before year-end, with a new high remaining as a maybe. This marks the first time he has publicly softened the $250,000 #price target he initially floated earlier in 2024 and continued to reiterate through early October.

Galaxy Digital CEO Mike Novogratz warned around October that “crazy stuff” would need to happen for $BTC to reach that level. Lee's prediction ranked among the more bullish year-end targets in the crypto space.

The BitMine chair pointed out that $BTC typically makes its move in just 10 days annually. Some of Bitcoin's best days may still happen before year-end, he said, with 35 days remaining until 2025 concludes.

Bitwise CEO Hunter Horsley stated in a February 2024 X post that investors cannot predict when those days will occur. Missing Bitcoin's best 10 days historically means missing nearly all of its returns, an idea widely shared among industry executives.