Bitcoin

Tom Lee’s Fundstrat: Could Hit $ 200,000 Bitcoin By 2022

In a webinar hosted by investment education platform Current market Rise up, Tom Lee, Managing Partner at Fundstrat International Advisors predicted that Bitcoin price could reach $ 200,000 by 2022. BTC changes hands. at $ 51,206.

BTC / USD 4-hour chart | Source: TradingView

Bitcoin price could reach $ 200,000 in 2022

While Lee believes crypto returns will be disappointing in 2021, he predicts that the flagship cryptocurrency will do better next year. Not just crypto, he also expects crypto stocks to have a great year in 2022.

Bitcoin rebounded to its current all-time high of $ 69,044 on November 10, followed by a sharp correction. It is currently changing hands at $ 51,067 after eliminating some of its recent losses. BTC failed to produce the solid year-end rally that many bulls were expecting.

Despite the high for the year, Bitcoin experienced a major crash in the second quarter. The triggers were environmental concerns surrounding the proof-of-work consensus algorithm and China’s draconian crypto ban.

The bulls’ failure to maintain momentum in November put an end to Lee’s hopes of hitting his repeated $ 100,000 target by the end of the year. Lee’s critics often despise Lee for overly optimistic predictions.

This criticism is not unfounded: Fundstrat gave up predicting Bitcoin’s price development in December 2018 after Lee, head of the market, made some bitter appeals.

Lee redeemed himself last year after correctly predicting the rapid recovery of the stock market from the pandemic-induced crash.

Coincu

Recent Posts

Best Coins to Buy Now: Qubetics Sells 200M Tokens to Raise Over $2.7M as Cardano and Avalanche Look to Strengthen Bullish Trend

Best Coins to Buy Now: Qubetics presale raises $2.7M with 200M tokens sold as Cardano…

37 minutes ago

Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025

London, united kingdom, 22nd November 2024, Chainwire

3 hours ago

Robinhood Exec Dan Gallagher Declines SEC Leadership Role

Robinhood Exec Dan Gallagher declined consideration to lead the SEC, affirming his commitment to Robinhood…

3 hours ago

Best Cryptos to Buy in November 2024: What Sets Qubetics Apart from Fantom and Immutable X?

Discover why Qubetics, Fantom, and Immutable X are the best cryptos to buy in November…

4 hours ago

Franklin Templeton Digital Assets and Sui Now Join Hands to Strengthen DeFi Strategy

Sui Foundation partners with Franklin Templeton Digital Assets to enhance DeFi solutions on the blockchain.

4 hours ago

Get Insights on BlockDAG’s $136M Presale Success Revealed in Recent AMA—BTC Soars to $99K, Avalanche Trading Volume Surges

See how Bitcoin confronts $99K resistance, Avalanche enjoys a 23% rise, & BDAG achieves a…

4 hours ago

This website uses cookies.