Bitcoin Still at an Attractive Price According to Tom Lee

Tom Lee, the chief investment officer of Fundstrat Capital, stated that Bitcoin will be profitable in the long term and indicated that the price level of $90,000 is a suitable entry point for investors.

Despite analyst warnings that Bitcoin could fall below $70,000, Tom Lee said that the $90,000 level is an attractive price for long-term investors. In his interview with CNBC on January 13, Lee said:

“Nobody who buys Bitcoin from here will lose in the long term. You might get lucky and wait for it to drop to $70,000, but this should be seen as an opportunity.”

Early Stages of the Bitcoin Halving Cycle

According to Lee, although Bitcoin is currently trading at much lower levels than its all-time high, this is a normal correction for a hyper-volatile asset.

Lee stated that while Bitcoin could potentially retreat to $70,000 levels, even if the price drops to lower levels, it will recover and start a new rally. He added that in a more pessimistic scenario, the price could drop to the $50,000 range.

Current Bitcoin Status

Bitcoin reached $96,000 levels again yesterday with a strong recovery movement and is currently trading at $96,800. All eyes are now on the next critical resistance level of $99,600.

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