The current market momentum has been slow and gradual, with rapid geopolitical tensions putting pressure on Bitcoin. Trump’s trade war with a volatile market stance has seen Bitcoin encounter several bouts of volatility this year, but despite the odds, Fundstrat’s Tom Lee believes Bitcoin and Ethereum have the power to reach $200K and $7K by the end of the year.
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Tom Lee’s bullish BTC and ETH year-end forecast
But despite such bearish undercurrents taking control of the market, Fundstrat’s Tom Lee believes that BTC and ETH could both reach ambitious price highs by the end of the year.
In an interview with CNBC, Lee agreed that crypto liquidations in October were one of the largest liquidations recorded in crypto history. However, despite this fact, he believes that this market consolidation is temporary, and the BTF ETH fundamentals, including app revenue and activity, are strong, which could help both coins reach new highs by the end of the year.
“I mean, if I look at everything since October 10th, because it was the biggest liquidation in the history of crypto, like bigger than a margin call. Yeah, it was almost like a miniature breach, like a tsunami. We’re just a couple of weeks away from that. So I think the market is consolidating. But if I look at fundamentals like Ethereum has exploding earnings and volumes like Ethereum has been exploding. an all-time high. So right now the price is leading in crypto so I think we’re finally consolidating us to 150 Yes, I think we can still get to 150, 200 for Bitcoin.
The technical insights
In the case of Ethereum, The CC data adds to how ETH could ultimately end the year on a positive notecapped at $5435.
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