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Bitcoin Tests $51k, Tom Lee Believes it Could Reach $200,000 In 2022 -Breaking

by Mike Robinson

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Bitcoin At $51k; Tom Lee Thinks It Could Hit $200,000 By 2022

After enduring five weeks of sell-off, , the world’s largest cryptocurrency, has embarked on a bull run, reclaiming previous highs above $51k.

Bitcoin has risen by 3% in the past 24 hours to $51,113. Bitcoin trades at $50,830.

This is the five-day price chart for Bitcoin (BTC). Source: Tradingview

Bitcoin Hits $200k In 2022

Tom Lee, Fundstrat Global Advisors managing partner, predicts Bitcoin’s resurgence to its former highs. This prediction comes after a somewhat disappointing year in 2021.

Popular crypto analyst – Nicholas Merten – in plotting a potential price path for Bitcoin, reached the same conclusion as Tom Lee – Bitcoin could quadruple in price at some point in 2022, leading to a $200k valuation.

Prior to Bitcoin’s November 10 all-time high at $68.8k, Tom Lee has predicted that the approval of the Proshares Bitcoin ETF would drive the price of BTC to new highs. The bulls failed to sustain momentum and Bitcoin topped at below his prediction of $100k.

Microstrategy’s CEO, Michael Saylor (NASDAQ:), is also optimistic about Bitcoin’s future. Michael Saylor thinks that Bitcoin could replace gold, as the cryptocurrency reaches $6million in value.

To The Flipside

  • Steve Hanke from Johns Hopkins University is an applied economist who claims that although we do know the Bitcoin price, their value is likely zero.

What are the reasons to care?

As an asset, Bitcoin has matured in 2021, showing increased usability and resilience to bearish pressure – factors that could help its course of dominance.

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