Bitcoin Bulls Clash with Skeptics Over $200K Price Target Outlook

Tom Lee of Fundstrat Global Advisors has once again expressed his positive outlook on

, predicting the cryptocurrency could reach $200,000 by the end of 2024 and $250,000 in 2025. In both a CNBC appearance and the Coin Stories podcast, Lee connected Bitcoin’s future growth to historical stock market patterns during periods when the Federal Reserve loosens monetary policy. He drew comparisons between Bitcoin’s trajectory and stock market movements in the fourth quarters of 1998 and 2024, suggesting cryptocurrencies serve as a “beta to equities” and are particularly reactive to changes in monetary policy. Lee also pointed to the upcoming U.S. Treasury auction on September 17 as a potentially pivotal event for digital assets.

Backing Lee’s perspective, recent data from both blockchain activity and institutional investors indicate strong momentum. Last week, spot Bitcoin ETFs saw $2.3 billion in new investments, continuing a trend seen throughout September. Meanwhile, corporate treasuries now collectively hold about 950,000

worth over $110 billion. CoinGlass also reported a 15% rise in open interest for Bitcoin futures since the start of September, with bullish positions prevailing. These figures resemble the technical conditions seen before major rallies in late 2017, 2020, and 2021, hinting at a supportive environment for further gains.

Yet, not everyone agrees with Lee’s forecast. Well-known Bitcoin critic Peter Schiff responded on X, claiming the asset might fall below $100,000 by year’s end rather than hit $200,000. Schiff argued that Bitcoin would not be the only beneficiary of lower interest rates, noting that other scarce assets such as gold, real estate, and

could also see increased demand. On the other hand, Anthony Scaramucci of SkyBridge and VanEck have set more modest targets of $180,000 for Bitcoin in 2024.

Ethereum has its own set of projections. Lee suggested a price range of $1,000 to $1,200 for ETH, reflecting broader trends in the crypto sector. In contrast, Galaxy Research anticipates Ethereum could climb to $5,500 in 2025, fueled by regulatory progress, greater institutional use of layer-2 solutions, and a possible resurgence in NFT trading. The ETH/BTC ratio, now at 0.03, is expected to rise to between 0.03 and 0.045 as collaboration between DeFi and traditional finance grows.

Market attitudes are currently mixed. The Crypto Fear & Greed Index moved from “greed” (60) to “neutral” (54) in just one week, highlighting the volatility as Bitcoin dropped from its July 14 record high of $123,100 to $113,000. Lee believes that skepticism is actually healthy for price discovery, since widespread bullishness often signals an overheated market.

Looking further ahead, Lee envisions Bitcoin eventually reaching $1 million, though he acknowledges that near-term targets may face obstacles. Some analysts, such as Rekt Capital, warn of a possible peak similar to 2020’s in October 2024, while Matt Hougan from Bitwise suggests 2026 could be a more favorable year for Bitcoin. Despite differing opinions, institutional interest and macroeconomic factors—like ETF inflows and Federal Reserve decisions—continue to play a crucial role in shaping the direction of the crypto market.

Source: [1] Bitcoin Price Prediction: Can BTC Reach $200K by Year-End or … [2] Bitcoin $250K Still Possible For 2025: Tom Lee [6] Here are Bitcoin and Ethereum 2025 Price …