Tom Lee: Bitcoin Price Drop a Buying Opportunity, Predicts $150K Target
Fundstrat co-founder Tom Lee remains bullish on Bitcoin, stating that the recent price drop is not indicative of a peak.
Speaking on “Speak Up” with investor Anthony Scaramucci, Lee labeled the recent dip as a bear trap, presenting a potential buying opportunity.
Despite April’s market turmoil, Lee believes Bitcoin’s value will continue to rise.
Bitcoin’s price has rebounded by 2% in the last 24 hours, reclaiming the $64,000 mark after briefly dropping to $56,000 on May 1.
Lee previously predicted Bitcoin could reach $150,000 by 2024, even though it’s currently down 16.2% from its all-time high of $73,737.
Lee asserts that Bitcoin’s intrinsic value lies in its technology and security, dubbing it “the purest form of trust.”
READ MORE: Bitcoin Bottomed Out, Gradual Recovery Expected – Arthur Hayes
Despite limited everyday use, Lee argues its utility and robustness as an asset class make it resilient.
Bitcoin’s 15-year history further supports its legitimacy, with Lee noting the absence of trillion-dollar markets disappearing within such a timeframe.
He believes the sheer size of the Bitcoin market makes its collapse unlikely, highlighting increasing institutional support, including from firms like BlackRock offering spot Bitcoin ETFs.
These factors, according to Lee, contribute to Bitcoin’s potential to maintain its value over the long term.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
