Fundstrat’s Tom Lee Unveils Downside Price Target for Bitcoin by End of March, Says BTC Not Immune to Turbulence

The co-founder and head of analysis at Fundstrat International Advisors is revealing his draw back worth goal for Bitcoin (BTC) for the tip of the month.

In a brand new interview on the RiskReversal Media YouTube channel, Fundstrat’s Tom Lee warns buyers that the highest crypto asset by market cap and different high altcoins gained’t be resistant to market turbulence.

In response to Lee, the flagship digital asset may lose about 34% of its worth by the tip of March. Whereas Lee is short-term bearish on BTC, he believes that the large image remains to be bullish for the crypto king.

“The work by our technical strategist Mark Newton [shows] Solana, Ethereum, and Bitcoin all have downsides. He has been bearish since mid-January so I believe it’s been right and his draw back goal for Bitcoin is $62,000 by the tip of March.

However to me, is $62,000 a cause to show bearish on Bitcoin? I imply in case you’re buying and selling it, yeah, however Bitcoin was $100 10 years in the past so $60,000 remains to be a improbable return and I believe Bitcoin’s usefulness remains to be enhancing. It’s nonetheless a threat on asset so I don’t anticipate it to do effectively if the market is being hit by tariffs.

It’s not resistant to that type of turbulence, however is the belief round Bitcoin going to develop over the subsequent 5 years? Sure, and is it going to be more and more considered as a retailer of worth like gold? Sure, I believe more and more.

After which is there room for lots extra folks to personal it? Sure.

I’m probably not bearish on it however I believe within the close to time period it’s onerous to say it ought to go up.”

Bitcoin is buying and selling for $93,287 at time of writing, a 9.4% enhance over the last 24 hours.

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