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Tom Lee: Bitcoin at or above $25,000 on Dec 31, 2018

Tom Lee's prediction that Bitcoin would be at or above $25,000 on December 31, 2018 did not come true. The close on the deadline decided this call: Bitcoin closed at $3,692 on December 31, 2018, the deadline, 85% below the target. Tom Lee made the call on CNBC on February 28, 2018, when Bitcoin was at $10,567. The target needed a 137% rise in ten months.

Updated

What was said

Photo of Tom Lee
Tom Lee

Head of Research, Fundstrat Global Advisors; Chairman, Bitmine Immersion Technologies

CNBC, Feb 28, 2018SourceArchive

8 predictions · 2 hit · 4 missed · 2 open

Photo: Xuthoria, CC BY-SA 4.0

On Wednesday, Lee maintained his midyear bitcoin price target of $20,000 — roughly double Wednesday's prices — and a year-end target of $25,000.

In his Wednesday report, Lee described the sell-off in bitcoin at the start of 2018 as an overshoot to the downside and cited announcements such as Rakuten's planned coin as positive developments. He also noted that bitcoin's low for the year had occurred in the first two months of the calendar year in six of the last seven years. He pointed to major companies, including Rakuten, Line and Starbucks, moving toward cryptocurrencies.

How we checked this

MissedDeadline

Price when said
$10,567 closeprice data
Target
$25,000+137%
Close on the deadline
$3,692price data

The close of the last trading day on or before Dec 31, 2018 decides: the prediction comes true if that close is at or above $25,000. Prices are daily closes in UTC, not intraday highs.

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