Experts – There has been speculations about the possible dimension of the flagship crypto, BTC in 2022. Popular experts, however, said its price shift may hit an all-time high of $200k in 2022.
Having reached a new high in 2021, BTC is recovering from its worst month since May 2021, significantly crypto trading has dropped 16% in the last month while many apportioned blame on the new variant of Covid-19.
Co-founders of Fundstrat Global Advisors, Brock Pierce and Tom Lee in their predictions believe that Bitcoin will hit $200,000 in 2022.
Over the past month in an interview, Pierce talked about BTC’s performance in the past month.
“People like to speculate, claiming they have answers, but in truth, BTC market is volatile.
He stated that the BTC is a risk asset,
“BTC is a store of value but not an inflation hedge like gold and real estate.”
However, it has more interesting return profile than the aforementioned duo.
Sharing what he believes will drive the flagship crypto beyond $100,000, Pierce said, financial uncertainty in the broader financial system.
“I would not be surprised if BTC goes beyond $100,000. It’s conceivable for it to break $200,000 for a moment and come back again.
Pierce predicts that BTC could briefly hit the said price mark before retracing the lower end.
Bitcon’s price performance in 2022 will depend on “external factors” pointing to massive money printing that’s ravaging the world.
Ton Lee in the other end predicted $200,000 for BTC in December 23 Market Rebellion Roundtable discussion.
In his words,
“So, may be Bitcoin is in that $200,000 range. I think that’s achievable, and I know it sounds fantastical, but it’s very useful.”
Lee previously maintained his 2021 BTC price prediction of $100,000 late October in light of ProShares launching the first Bitcoin exchange-trade fund in the United States.
On Bitcoin downward price trend lately
Aside the popular believe that Omicron variant of Covide-19 drove the current bear market, Pierce adopted and pinpointed a more technical approach, noting, “BTC price is down given there are more sellers than buyers in the market.”
One of the reasons for BTC bad performance is that some investors are putting their money into other crypto assets.