Bitcoin not immune to 50% crashes despite Wall Street love: BitMine’s Lee

BitMine chair Tom Lee cautioned that Bitcoin remains susceptible to significant volatility, predicting potential 50% drawdowns even with growing institutional adoption via spot ETFs. Lee argues that Bitcoin often amplifies movements in the stock market, suggesting that if the S&P 500 drops 20%, Bitcoin could fall 40%. Furthermore, he believes Bitcoin is breaking from its traditional four-year cycle, indicating a "longer cycle" is developing. Despite this caution, Lee previously forecasted Bitcoin reaching $200,000 to $250,000 by year-end, meaning a 50% correction would still place the price near $125,000. This bearish outlook aligns with sentiments from other analysts like Peter Brandt, though some advocates, like Michael Saylor, remain confident that severe downturns are unlikely to return.

(Source：Cointelegraph)