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Bitcoin Could Surge 36.61% to Match Gold's 30.31% Gain

Coin WorldMonday, Apr 21, 2025 11:59 am ET

1min read

Tom Lee, co-founder of Fundstrat Global Advisors, expressed a bullish outlook on Bitcoin's near-term price prospects during an appearance on CNBC’s Squawk Box on April 21. Lee attributed Bitcoin's struggles at the beginning of the year to the overleveraged positions of institutional investors. He believes that with the completion of institutional deleveraging, Bitcoin is poised to catch up to gold. Lee highlighted that Bitcoin's previous high was over $110,000, suggesting significant room for growth as a non-dollar asset.

Lee's optimism is based on the idea that Bitcoin, which has seen a 4.43% gain on the daily chart, bringing year-to-date losses down to 5.67%, will rally to catch up to gold. Gold prices have increased by 30.31% since the start of the year, reaching $3,420 per ounce. For Bitcoin to match this performance, it would need to surge by 36.61% from its current levels, reaching approximately $120,507. This target is 13.49% higher than Bitcoin's all-time high of $106,180, which was reached on January 22.

Lee's predictions are not without controversy. He had previously forecasted a stock market recovery in late February, which did not materialize. Additionally, in September of 2024, he missed the mark when he predicted a 7% to 10% pullback in the S&P 500. Despite these inaccuracies, Lee maintains a generally strong track record in terms of predictions and has set a $250,000 price target for Bitcoin by the end of 2025.

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