Tom Lee Predicts $3M BTC — Hopium or Real Talk?

[Macro Exchange]

Tom Lee from Fundstrat recently made headlines on CNBC, saying Bitcoin could one day hit $3,000,000 and called it “the best asset in human history.”

Sounds bullish, but the market right now tells a different story.
BTC is moving slow after the halving, ETH is stagnating, and overall sentiment feels cautious. There’s no strong catalyst pushing prices up yet, and macro uncertainty (like global trade tensions and weak risk appetite) still hangs over the market.

We’re also seeing how the classic “Sell in May and go away” pattern is partly playing out — trading activity is down, and some funds are clearly sitting on the sidelines.

Could this just be a cooldown before the next leg up? Or are the bulls too optimistic again?

[Oshosondy]

I think people should first predict $1 million price first before making the next prediction. Bitcoin will be moving towards $60 trillion marketcap before getting to $3 trillion in price. Bitcoin as of today as not achieve anything near such marketcap. The last time I check the marketcap of bitcoin, it is just a little above $2 trillion.

[mindrust]

$3m when? By tomorrow? Next year? Next decade? Next century? Next decade or next century doesn’t seem impossible to me but I don’t see it reaching $3m in the next 5 years at least.

People should learn it by now, there is no impossible for bitcoin. It only, takes time.

Why?

Constant demand and little total supply. It will keep going up forever. The moment you understand it, you’ll also realize the price isn’t important, how much you got isn’t that important. What really matters is if you got any and how long you held it.

The rest is noise.

[FortuneFollower]

I think people should first predict $1 million price first before making the next prediction. Bitcoin will be moving towards $60 trillion marketcap before getting to $3 trillion in price. Bitcoin as of today as not achieve anything near such marketcap. The last time I check the marketcap of bitcoin, it is just a little above $2 trillion.

It's all speculation for speculation.

1 million, two, three - we need to look at the targets near us rather than those decades ahead

[d5000]

Sounds bullish, but the market right now tells a different story.

"Long term" predictions are a completely other story than the market situation "right now". And we're currently very close to the ATH. 106k to 112k is almost nothing.

3 million of course seems very optimistic, even for decades ahead. If Bitcoin's market cap matched the value of all gold in the world it would still be below 1 million USD per BTC. Above all if we take into account that volatility has been decreasing since Bitcoin is traded on exchanges. That means that the next bull markets very likely won't be as strong as past bull markets.

My guess is that gold is within reach, but a "Bitcoin > Gold flippening" would also probably reduce gold's value.

Of course these predictions only make sense if you take into account purchasing power. Speculating that there may be a USD hyperinflation eventually doesn't really make Bitcoin that more attractive.

[john_egbert]

Sounds bullish, but the market right now tells a different story.

"Long term" predictions are a completely other story than the market situation "right now". And we're currently very close to the ATH. 106k to 112k is almost nothing.

3 million of course seems very optimistic, even for decades ahead. If Bitcoin's market cap matched the value of all gold in the world it would still be below 1 million USD per BTC. Above all if we take into account that volatility has been decreasing since Bitcoin is traded on exchanges. That means that the next bull markets very likely won't be as strong as past bull markets.

My guess is that gold is within reach, but a "Bitcoin > Gold flippening" would also probably reduce gold's value.

Of course these predictions only make sense if you take into account purchasing power. Speculating that there may be a USD hyperinflation eventually doesn't really make Bitcoin that more attractive.

I agree with the take that volatility will become less and less of a factor as time goes on - clearly, to move such a cap more and more power is needed, as you said, and printing more money helps to get said funds into the right track, however, it doesn't mean that it all goes for BTC, of course.

[avikz]

7-8 years back, people didn't believe that Bitcoin can even reach to 100k. They all laughed on such prediction. But see where it is now. So if you think this prediction is hilarious, we really don't know what the future holds. With many countries moving with a plan to create Bitcoin reserve, I don't see a reason why it can't happen. I am a believer of miracles.

It's ok for people to be ultra bullish as long as they are not trying to pull money from the market for their personal gain.

[aoluain]

Tom Lee from Fundstrat recently made headlines on CNBC, saying Bitcoin could one day hit $3,000,000 and called it “the best asset in human history.”

Sounds bullish, but the market right now tells a different story.
BTC is moving slow after the halving, ETH is stagnating, and overall sentiment feels cautious. There’s no strong catalyst pushing prices up yet, and macro uncertainty (like global trade tensions and weak risk appetite) still hangs over the market.

We’re also seeing how the classic “Sell in May and go away” pattern is partly playing out — trading activity is down, and some funds are clearly sitting on the sidelines.

Could this just be a cooldown before the next leg up? Or are the bulls too optimistic again?

You cannot associate what Tom Lee is predicting to todays market.

There are three very important words used in what he said, words which are
easily overlooked.

...could one day...

Could = might not happen
one day = a lot of us might not be alive to see it

Its just a prediction, comment, $1,000,000 has already been quoted so to be
different he went with 3. It doesnt do anything, the market isnt going to move
based on this.

[Synchronice]

$3m when? By tomorrow? Next year? Next decade? Next century? Next decade or next century doesn’t seem impossible to me but I don’t see it reaching $3m in the next 5 years at least.

People should learn it by now, there is no impossible for bitcoin. It only, takes time.

Why?

Constant demand and little total supply. It will keep going up forever. The moment you understand it, you’ll also realize the price isn’t important, how much you got isn’t that important. What really matters is if you got any and how long you held it.

The rest is noise.

People don't understand what the market cap is, they think that the price of the Bitcoin comes out of thin air. They don't look at numbers, they don't understand that the market cap of the Bitcoin is $2.11 trillion. Gold's market cap is $22.68 trillion. Bitcoin will be worth 1 million USD when the market cap reaches $22 trillion. In order for Bitcoin to reach $3 million price per coin, to roughly say, the market cap should be $60 trillion USD.
Gold has been the oldest and the most adopted currency and asset and its market cap is $22 trillion. There is no way for Bitcoin to reach 3 million price per coin in the near future, it will take few decades.

[NeuroticFish]

Could this just be a cooldown before the next leg up? Or are the bulls too optimistic again?

Neither. The guy wanted to be in the news, and a well known strategy over years is to boast some incredibly bullish number as the expected price.
Yes, Bitcoin price will reach even 3M... eventually.

Whether "sell in May and go away" works this year... you better ask the guys very strong in TA

[xzone]

Do you think that one day it will be 3 million dollars? I think it could be, maybe 10 years from now we will be at that level, maybe it will be even shorter. We will never know, but there is definitely a potential for that.

I think it's very normal for trading volumes to be down right now, we already know statistically that this is what happens in these months. and when you consider that it's a market that people don't trust very much and there's a lot of uncertainty, I'm starting to think that we're getting ready for the next price spike

[melinoe]

Could this just be a cooldown before the next leg up? Or are the bulls too optimistic again?

Neither. The guy wanted to be in the news, and a well known strategy over years is to boast some incredibly bullish number as the expected price.
Yes, Bitcoin price will reach even 3M... eventually.

Whether "sell in May and go away" works this year... you better ask the guys very strong in TA

He got what he wanted most - traction and a crowd that would discuss the matter further: in the socials, here, and anywhere else.

I agree with the take that this news isn't to be considered when thinking of what comes next in the short term and mid term..

[BABY SHOES]

When did Tom Lee mention bitcoin to $3M? I mean for when? Another decade? Maybe it would be better if you share the article.

If the current cycle then it doesn't make sense to increase sharply high, but if a few decades it might seem reasonable considering the history where bitcoin increases several times every cycle... but to touch $3B it takes a long time and anyway this will be new history later.

[coolcoinz]

When did Tom Lee mention bitcoin to $3B? I mean for when? Another decade? Maybe it would be better if you share the article.

If the current cycle then it doesn't make sense to increase sharply high, but if a few decades it might seem reasonable considering the history where bitcoin increases several times every cycle... but to touch $3B it takes a long time and anyway this will be new history later.

3M, not 3B. Just a single letter but a huge difference

I'll just say that Tom Lee is famous for his 2018 prediction when bitcoin was $20k. Lee claimed that we'd see $25k within weeks and instead bitcoin went to $12k and then a bear market begun.

If you're here because you think you can turn $100k into 1m with bitcoin, the reality is going to kick you in the ass.

[BABY SHOES]

When did Tom Lee mention bitcoin to $3M? I mean for when? Another decade? Maybe it would be better if you share the article.

If the current cycle then it doesn't make sense to increase sharply high, but if a few decades it might seem reasonable considering the history where bitcoin increases several times every cycle... but to touch $3B it takes a long time and anyway this will be new history later.

3M, not 3B. Just a single letter but a huge difference

I'll just say that Tom Lee is famous for his 2018 prediction when bitcoin was $20k. Lee claimed that we'd see $25k within weeks and instead bitcoin went to $12k and then a bear market begun.

If you're here because you think you can turn $100k into 1m with bitcoin, the reality is going to kick you in the ass.

Haha... I made a typo...

Actually, I don't know Tom Lee... how accurate he is in predicting bitcoin, but people like him will make wild predictions, but that's okay.

I don't really believe in exaggerated statements because it's not realistic to talk about now or in the next few years.

[EFS]

Since he said "one day", it's quite a possible figure. If he had said within 1-3-5 or whatever years, then it could be debated but he left it open-ended. Bitcoin could be worth $3 million 50 years from now. However, by then due to inflation that $3 million would have much less purchasing power than it does today.
Making this prediction while Bitcoin is above $100k is easy. A 30x increase would bring it to 3 million. If he had said this back when Bitcoin was trading under $100, before it proved itself, it would've been newsworthy. But now it's just an ordinary prediction.

[Moreno233]

If he predicts $3M per Bitcoin without given a timeframe for that to happen, then such prediction have legitimacy because I also believe that Bitcoin will even surpass that price and could get to $10M per Bitcoin in the future. However, if Tom's prediction is expected in this market cycle, that, I can say is impossible because Bitcoin have not even reach half a million, hence the first milestone for Bitcoin should be $1M. We will likely get there in one or two more halving base on my estimate.

[LogitechMouse]

Tom Lee from Fundstrat recently made headlines on CNBC, saying Bitcoin could one day hit $3,000,000 and called it “the best asset in human history.”
---
We’re also seeing how the classic “Sell in May and go away” pattern is partly playing out — trading activity is down, and some funds are clearly sitting on the sidelines.

Could this just be a cooldown before the next leg up? Or are the bulls too optimistic again?

Like what I always say, anybody can make their own prediction whether it's exaggerated or not. It's just that, these popular persons are the ones that are being posted on news media because... they're popular. That's all. We can also predict that Bitcoin can reach $10,000,000, but who cares? Cointelegraph or other online news media out there don't give a crap about our predictions.

Anyway, $3,000,000 can be reached or not, but it's good that he didn't say any specific year that it will happen or else, he will be criticized yet again. As for the trading activity in May, I'm not looking at the trading volume unfortunately, but what I just saw is that May had been a good month for cryptocurrency in general. The sentiment around is bullish, and if it continues, a leg towards a potential upside might continue.

Look at the 1D timeframe, and it's forming a potential cup and handle pattern already. That pattern is a bullish continuation pattern.

[Smack That Ace]

7-8 years back, people didn't believe that Bitcoin can even reach to 100k. They all laughed on such prediction. But see where it is now. So if you think this prediction is hilarious, we really don't know what the future holds. With many countries moving with a plan to create Bitcoin reserve, I don't see a reason why it can't happen. I am a believer of miracles.

It's ok for people to be ultra bullish as long as they are not trying to pull money from the market for their personal gain.

This is not funny but also not realistic, and this is not the right time to think about it. Bitcoin can reach 3 million dollars but it is still too far away to think about.

I don't know who doubted and didn't believe that Bitcoin would hit $100k years ago, but I believed it because Bitcoin's market cap was only $2 trillion back then and that was pretty realistic. But bitcoin's market capitalization reaching $60 trillion while global GDP is just over $130 trillion is unrealistic and somewhat overly optimistic.

Please, before making predictions about bitcoin, we should look at the market capitalization compared to the world economy, don't just look at the bitcoin price and make predictions randomly.

[Dave1]

Tom Lee from Fundstrat recently made headlines on CNBC, saying Bitcoin could one day hit $3,000,000 and called it “the best asset in human history.”

Sounds bullish, but the market right now tells a different story.
BTC is moving slow after the halving, ETH is stagnating, and overall sentiment feels cautious. There’s no strong catalyst pushing prices up yet, and macro uncertainty (like global trade tensions and weak risk appetite) still hangs over the market.

We’re also seeing how the classic “Sell in May and go away” pattern is partly playing out — trading activity is down, and some funds are clearly sitting on the sidelines.

Could this just be a cooldown before the next leg up? Or are the bulls too optimistic again?

He is known to be super bullish on Bitcoin as far as I can remember so I'm not surprised with this kind of prediction of him. I'm not sure though what you mean by Bitcoin moving slowly, as we have reach new all time high already even before the halving itself.

But I do agree that at some point there will be a cool down and I will say that it's just about normal though.

So let this cool down or sideway patterns another opportunity for us to grow, buy and continue to do DCA. As far as prediction goes, we have seen in the past that the price is going to increased every 4 years so I do believed that somewhere in the future, we might see this price.