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:

“I don’t think anyone is going to lose money buying here at $90,000. If they’re trying to time this, maybe they get lucky, and it goes to $70,000.”

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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