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

Fundstrat Global Advisors’ Tom Lee has reiterated his bullish stance on Bitcoin, forecasting a year-end 2024 price target of $200,000 and a 2025 projection of $250,000. His analysis, shared during a CNBC interview and a Coin Stories podcast, links the cryptocurrency’s potential to historical equity market trends during Federal Reserve easing cycles. Lee cited parallels between Bitcoin’s performance and equities in Q4 1998 and 2024, arguing that cryptocurrencies act as “beta to equities” and are highly sensitive to monetary policy shifts. The September 17th U.S. Treasury auction, he noted, could serve as a critical catalyst for crypto markets.

Supporting Lee’s thesis, recent on-chain and institutional data show strong tailwinds. Spot Bitcoin ETFs recorded $2.3 billion in inflows last week, extending a September trend, while corporate treasuries now hold approximately 950,000 BTC valued at over $110 billion. CoinGlass data further revealed a 15% increase in futures open interest since September 1, with long positions dominating. These metrics mirror pre-2017, 2020, and 2021 Q4 rallies, suggesting a favorable technical setup.

However, not all analysts share Lee’s optimism. Peter Schiff, a vocal Bitcoin skeptic, countered on X, arguing that the asset could dip below $100,000 by year-end rather than reach $200,000. Schiff criticized the notion that Bitcoin alone would benefit from rate cuts, emphasizing that other limited-supply assets like gold, real estate, and Ethereum could also gain traction. Meanwhile, VanEck and SkyBridge’s Anthony Scaramucci have offered more conservative targets of $180,000 for 2024.

Ethereum faces its own set of expectations. Lee mentioned a $1,000–$1,200 range for ETH, aligning with broader crypto market dynamics. Galaxy Research, however, projects Ethereum could reach $5,500 in 2025, driven by regulatory clarity, institutional adoption of layer-2 solutions, and a potential revival in NFT trading volumes. The ETH/BTC ratio, currently at 0.03, is expected to rise to 0.03–0.045 as DeFi-TradFi collaboration intensifies.

Market sentiment remains mixed. The Crypto Fear & Greed Index shifted to “neutral” (54) from “greed” (60) within a week, reflecting volatility amid Bitcoin’s pullback from a July 14 all-time high of $123,100 to $113,000. Lee argued that skepticism is a positive sign for price discovery, as consensus-driven bullishness often signals overbought conditions.

Long-term, Lee envisions Bitcoin reaching $1 million “over time,” though shorter-term targets face challenges. Analysts like Rekt Capital caution against a 2020-style peak in October 2024, while Bitwise’s Matt Hougan suggested 2026 could be a more favorable year for the asset. Despite these divergences, institutional demand and macroeconomic factors—such as ETF inflows and Fed policy—remain central to the crypto market’s trajectory.

Source: [1] Bitcoin Price Prediction: Can BTC Reach $200K by Year-End or … (https://finance.yahoo.com/news/bitcoin-price-prediction-btc-reach-143145278.html) [2] Bitcoin $250K Still Possible For 2025: Tom Lee (https://cointelegraph.com/news/bitcoin-price-prediction-250k-still-possible-fundstrat-tom-lee) [6] Here are Bitcoin and Ethereum 2025 Price … (https://thecryptobasic.com/2025/01/03/here-are-bitcoin-and-ethereum-2025-price-predictions-by-galaxy-research/)