Tom Lee, Who Predicted the Previous Bull in Bitcoin, Speaks After Yesterdays Drop! He Answered the Question Is It an Opportunity?

Tom Lee, co-founder of Fundstrat Global Advisors, known for his bold predictions for Bitcoin (BTC), spoke after yesterdays decline.

Speaking on CNBC, Tom Lee called the market sell-off an overreaction and a buying opportunity.

Tom Lee called the Bitcoin and market sell-off on January 27, including NVIDIAs 17% drop, an overreaction and a significant buying opportunity.

The decline was short-lived, with Nasdaq futures up 1% and NVIDIA up 5% premarket following the decline.

Bitcoin also regained strength, rising above $103,000.

Lee also highlighted Bitcoins strong performance since the beginning of the year, stating that Bitcoin has outperformed small-cap companies and financial companies since the beginning of the year.

Finally, touching on the anticipated Fed interest rate decision, Tom Lee said that there was some uncertainty going into the meeting because the markets were currently very hawkish and there was a lot of talk of a possible rate hike in 2025.

Tom Lee also reiterated his 2025 price prediction for Bitcoin, saying he expects the price to reach $250,000.

In his previous statements, Tom Lee shared his expectations for the markets in 2025 and stated that he expected Bitcoin to reach approximately $250,000 in 2025.

Lee also stated that he expects Ethereum (ETH) to show a strong performance and reach $5,000 to $6,000.

*This is not investment advice.