- Tom Lee changes his bullish tune, signs bearish future.
- The financial expert once expected the price of BTC to hit $250,000 this year.
- Now, he predicts the price of ETH to hit $55,000 by the end of the year..
The crypto market continues to face a sharp switch to bearish expectations as more and more analysts are changing their tone from bullish predictions to bearish expectations. So far, only one analyst remained adamant about BTC crashing to lower targets, now, more analysts are turning to bearish expectations. Most recently, Tom Lee changed his bullish tune, saying Bitcoin will crash to $55,000 this year.
Tom Lee Changes His Bullish Tune
The crypto community was bullish when Q4 began, with analysts expecting the price of BTC to hit one final new ATH price before relinquishing dominance to altcoins and triggering altseason start. In detail, this new BTC ATH price range was set to take the price of Bitcoin between $130,000 and $150,000 prices and reputed financial experts like Tom Lee were adamant that BTC could hit $250,000 this bull cycle.
In contrast, one analyst has been bearish since August, claiming that a brutal price dip would take the price of BTC to the $90,000 price range. This prediction did not play out exactly, instead, the crypto market faced a $20 billion liquidation that wiped out all leverages and long positions, especially for altcoins. So brutal was this crash that even $3 billion in short positions were wiped out.
Following the reset, the crypto market expected to see all assets soar to new highs, instead, crypto prices are slowly hitting lower prices, with sentiments leaning towards the start of the bear market to have already begun. Since then, analysts have been repeatedly arguing bear vs bull scenarios and debating what outcome to expect. Despite the bearish expectations, treasuries continued to buy ETH and BTC expecting higher prices.
As we can see from the post above, Tom Lee, a crypto and finance expert who expected the price of BTC and ETH to go on to hit new ATH prices of up to $250,000 for BTC and $60,000 for ETH by the end of his year, suddenly began to change is tune, calling for BTC to hit $55,000 instead. This led to several bear analysts celebrate in victory, as they say this as a sign to validate their bearish expectations.
Bitcoin Expected to Crash to $55,000 This Year
The post above is one such scenario, where the popular crypto trader James Wynn, is pleased to see that Tom Lee is turning to bearish expectations, and goes on to celebrate how his bearish positions and trade strategies will likely play out as he expected. More bear traders prepare to make adamant gains in the coming weeks ahead.
