Last month, Bitcoin (available on Coinbase) enthusiasts breathed a sigh of relief when they were informed that the Tom Lee Bitcoin (available on Coinbase) price target was $25K by the end of 2018.

But a month later, now in the second half of the year, Tom Lee has changed his mind. He now expects that Bitcoin (available on Coinbase) will trade a little over $20,000 by year-end.

Tom Lee Bitcoin (available on Coinbase) Price Target: 20% Less Than Original

As the Bitcoin (available on Coinbase) bulls and bears continue to fight, the Fundstrat co-founder has sided with both in certain instances. He admitted that Bitcoin (available on Coinbase)’s trading volume has dropped. He cut his Bitcoin (available on Coinbase) price target. Yet Mr. Lee made it evident Thursday that this is not somETHing investors should fret over.

The New Tom Lee Bitcoin (available on Coinbase) Price Target: July 5th, 2018

On Thursday, in an interview with CNBC, Lee said that he had cut his price target and expects to see Bitcoin (available on Coinbase) at $22,000 per unit by the end of 2018. That’s 20% less than his previous $25K year-end projection.

According to Tom Lee, this is OK. He said any return nearing his $20K forecast for the coin by the end of the year would be an increase of roughly 200%.

Tom Lee Bitcoin (available on Coinbase) Thoughts: Early Stages

In May, Bitcoin (available on Coinbase) reached its most recent high, which was around the $9,800 price mark. Since then, BTC has lost roughly 30%.

Despite this, Tom Lee believes that Bitcoin (available on Coinbase), as well as blockchain technology, are only in the “early stages” of their transformation. He even called them a “multidecade story.”

Are Bitcoin (available on Coinbase) Investors Worried?

Tom Lee appears to be undeterred. However, the new Tom Lee Bitcoin (available on Coinbase) price target may have shocked a few people. Why? Because Lee has stuck by his $25K prediction through thick and thin – even when the Bitcoin (available on Coinbase) price dropped during the 2018 Consensus conference.

Takeaway

Are you worried about the slash to the Tom Lee Bitcoin (available on Coinbase) price target? Or, do you share his view that Bitcoin (available on Coinbase) is in the early stages of transformation, and a few thousand is nothing to quibble over?