Tom Lee: 'Bitcoin Can Reach $25,000 by End of Year'

Still in a prevailing bear market, cryptocurrency volatility has investors wondering whether a trend reversal is imminent.

Bitcoin bull and former and former Chief Equity Strategist at J.P. Morgan, Lee appeared on CNBC's Fast Money to reassure Wall Street of his $25,000 Bitcoin price forecast.

"Bitcoin has historically traded at 2.5 times its mining costs. The reason bitcoin looks really good here is the cost of mining around $7,000 fully loaded. And the difficulty is rising. So by the end of the year, it's going to be $9,000."

With mining difficulty expected to rise as Bitcoin gets closer to its finite supply of 21 million, Lee estimates that the leading cryptocurrency's value will follow and exceed the $20,000 mark by end-of-year.

We still think bitcoin can reach $25,000 by the end of the year or something like that.

With prices climbing back towards December highs near $20,000, Bitcoin still has a long way to go before trending in a bullish manner.

The world's largest cryptocurrency by market cap is currently trading 30% down from its 3-month highs at $9,800 in May.Still A Long Way to Go for Crypto Mass Adoption.

Despite a positive price forecast, Lee remains grounded in his outlook for cryptocurrency adoption on a large-scale.

As former Chief Equity Strategist at J.P. Morgan from 2007-2014, Lee predicts that the growth of blockchain integration will follow a similar track to that of mobile and internet convergence, which took about two decades before becoming prolific.

Lee told CNBC that blockchain is a "Multidecade story" still in its "Early stages" of development.