BTC to $200K in 2022, Pierce and Lee Say

ZFX – Tipping everyone that the famed first cryptocurrency will skyrocket in price throughout 2022, Brock Pierce (former Block One chief strategy officer) and Tom Lee (co-founder of Fundstrat Global Advisors) are firm in their stand for Bitcoin, even though it did not even reach the $100K mark predicted this year.

Bitcoin’s initial aim to settle at $69K on Nov. 10 is reflected in its failure to even break through its current position at $46,270.

In the Dec. 23 Market Rebellion Roundtable discussion, Lee put up the prediction of BTC reaching $200K by saying, “So maybe Bitcoin is in that $200,000 range. I mean, I think that’s achievable, and I know it sounds fantastical, but it’s very useful”.

As ProShares launched the very first Bitcoin exchange-traded fund (ETF), Lee also stood his ground about the 2021 prediction of BTC reaching $100K. Consecutively, he also maintained that Bitcoin ETFs are going to attract more than $50 billion over the next year. To that, American Bitcoin ETFs are holding close to $1.5 billion in assets among offerings from VanEck, Valkyrie, and Proshares.

Last Wednesday, Pierce told Fox Business that it was, “conceivable that it could break $200K for a moment and come falling back again.” He also maintained that, “there really are not many levels where I (anticipate) Bitcoin seeing resistance. We could get anywhere from $70K to $100K by the end of the year, but it will bot be without volatility”. To his delight, BTC did hit the lower end of the range on Nov. 10.

So what does this mean? We should take every public figure’s wrong predictions as a precursor to the need of doing our own research. Predictions should not be taken to be always serious but as a bit of fun.

—

Disclaimer: Trading ideas by this website are provided as general market information for educational purposes. There is a risk of losing money in trading. Past performance is not necessarily indicative of future results.