Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

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

CryptocurrencyDec 27, 2021 03:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Bitcoin Tests $51k, Tom Lee Believes it Could Reach $200,000 In 2022

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

Over the last 24 hours, Bitcoin topped up by 3%, reaching the price of $51,113. Bitcoin now trades around $50,830.

The five days price chart of Bitcoin (BTC). Source: Tradingview

Bitcoin to Hit $200k in 2022

As Bitcoin reclaims old highs, Tom Lee, a managing partner at Fundstrat Global Advisors, has predicted that Bitcoin could be valued as high as $200,000 in 2022, following a rather disappointing end to 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. While it did, the bulls could not sustain the momentum, leaving Bitcoin to peak at under his predicted $100k.

The CEO of Microstrategy (NASDAQ:MSTR), Michael Saylor, is also bullish about the future of Bitcoin. Michael Saylor believes that Bitcoin will replace gold in the future as it journeys to a $6 million valuation.

On The Flipside

  • According to Steve Hanke, a professor of applied economics at Johns Hopkins University, while we know the price of Bitcoin, its value is probably zero.

Why You Should 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.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

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

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email