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

Bitcoin Trading Volume Skyrockets to $145 Billion as Retail Investors Return

Bitcoin trading volume has surged to an all-time high of $145 billion in the last…

32 minutes ago

Italy Considers Reducing Proposed Italy Crypto Tax to 28%

Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…

4 hours ago

Bitcoin Spot ETF Inflows Reach $818M Amid 5-Day Positive Streak

Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…

4 hours ago

Elon Musk Invests $200M in Trump, Treats Government Like X (Twitter)

Elon Musk applies his X (Twitter) management style to politics. His political strategies, including voter…

5 hours ago

PayPal Stablecoin PYUSD Now Available for Cross-Chain Trading via LayerZero

PayPal stablecoin PYUSD can now transfer seamlessly between Ethereum and Solana via LayerZero.

6 hours ago

New Department of Government Efficiency Will Be Led by Musk

President-elect Trump plans to establish the Department of Government Efficiency, led by Elon Musk and…

7 hours ago

This website uses cookies.