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A potential price of $200,000 could be attainable to Bitcoin by 2022 as per Tom Lee
In a live webinar hosted by the investment educational platform Market Rebellion, Tom Lee as the managing partner at Fundstrat Global Advisors, predicted that the Bitcoin price could be as high as $200,000 by 2022.
While the well-known market analyst believes that cryptocurrency’s gains were not as good in 2021, he anticipates the cryptocurrency king to perform better the next year.
The permabull also predicts cryptocurrency stocks to experience an amazing decade in 2022.
Bitcoin’s year was abysmal for the cryptocurrency.
Bitcoin has soared to an record high of $69,044 November. 10th, which then was followed by dramatic correction.
The cryptocurrency was not able to put together an impressive year-end rally most bulls expected. The cryptocurrency is currently trading at $51,067 following the paring of the losses of recent.
Despite beginning the year with a positive note, Bitcoin suffered a major drop during the third quarter. The reason for this was environmental concerns regarding the proof-ofwork consensus algorithm as well as China’s strict cryptocurrency ban.
Bulls have failed to sustain momentum in November put an end to the hopes of achieving Lee’s often-repeated $100,000 goal by the close of the year.
Permabull
Lee is frequently disregarded by his critics as a permabull due to his overly optimistic forecasts.
This critique isn’t true The Fundstrat stopped on attempting to predict the Bitcoin price in December 2018 , following several disastrous decisions made by Lee at the brink of the bear market’s brutality which became a source of ridicule in the investing community.
Lee was able to redeem himself last year after he accurately predicted an immediate recovery in the stock market after the pandemic that caused the crash.
The analyst is expecting that the S&P 500 index to finish the year higher than 5,100.
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