Tom Lee, managing partner of Fundstrat Global Advisors, predicted in a webinar that the price of Bitcoin will reach $200,000 in 2022.
Tom Lee reiterates his prediction for Bitcoin price
Well-known market researcher and BTC’s history, Tom Lee, who has come to the fore with his predictions, thinks that the returns of the cryptocurrency will be disappointing in 2021, while the crypto king believes that Bitcoin will beat the market next year. Additionally, the Bitcoin bull predicts a blockbuster year for BTC-focused stocks in 2022.
The failure of cryptocurrency bulls to keep pace in November thwarted Lee’s often-repeated desire to reach his $100,000 goal before the end of the year. Lee is referred to by critics as a persistent/always a bull (permabull) for his overly optimistic forecasts. In fact, Fundstrat abandoned attempts to predict Bitcoin’s price action in December 2018, after many poor predictions made by Lee on the eve of the harsh bear market. Lee gained some relief last year when he accurately predicted a rapid rebound in the stock market after the pandemic-related decline.
BTC enters the end of the week above $50,000
Bitcoin (BTC) price broke above $51,000 on Friday, December 24. Thus, the cryptocurrency has surpassed this critical level for the first time in about three weeks. Since the beginning of December, the cryptocurrency has been trading in the $45,000 and $50,000 price range after falling from its all-time high of $69,000 in November. It is currently changing hands at $51,367, up 5.9 percent on the day and 7.9 percent in 7 weeks.