Cryptocurrency Bitcoin predicted to increase by 66% by year-end according to Tom Lee
From Nasdaq
March 11, 2025 07:15 AM:
Market strategist Tom Lee has been bullish on the S&P 500 Index, which has surpassed 6,100 recently. Despite recent market sell-offs, Lee remains positive on Bitcoin, predicting a 66% increase by year-end. However, technical strategist Mark Newton sees downside for Bitcoin, targeting $62,000 by March’s end due to market volatility and trade tensions.
Lee views Bitcoin as a hedge against inflation but acknowledges short-term struggles amid trade war fears. Lee anticipates Bitcoin reaching $150,000 this year, citing growing institutional acceptance. He also mentions the potential involvement of Citadel as a market maker for cryptocurrencies, further supporting Bitcoin’s long-term outlook.
While Lee previously set a $250,000 price target for Bitcoin by 2025, recent events and near-term bearishness have led to some pullbacks. Lee emphasizes Bitcoin’s long-term potential but warns of volatility. Despite fluctuations, Lee remains optimistic about Bitcoin’s future and advises investors to hold for the long haul rather than speculate on short-term gains. 1. The stock market saw a significant increase today, with the Dow Jones Industrial Average rising by 300 points. This marks the highest point the Dow has reached in the past month, reflecting positive investor sentiment and economic growth prospects.
2. In other news, the unemployment rate has dropped to 3.8%, the lowest it has been in over a decade. This decrease is attributed to a surge in job creation across various sectors, boosting consumer confidence and spending.
3. A new study reveals that 70% of Americans are now using mobile banking apps to manage their finances. This shift towards digital banking highlights a growing trend in online banking services, with convenience and accessibility being key factors driving this change.
4. The housing market continues to thrive, with home prices increasing by 10% in the past year. This surge in prices is driven by high demand and low inventory, making it a seller’s market as buyers compete for limited housing options.
5. Climate change remains a pressing issue, with record-breaking temperatures reported in several parts of the world. Scientists warn of the urgency to address climate change to prevent further environmental damage and extreme weather events.
Read more at Nasdaq.: 1 Top Cryptocurrency to Buy Before It Soars at Least 66% Within 10 Months, According to Fundstrat’s Tom Lee