Fundstrat Global Advisors’ managing accomplice Tom Lee is disillusioned with the end-year efficiency of Bitcoin (BTC) in 2021 however nonetheless thinks the main crypto asset may soar to new heights in 2022.
In an interview with buying and selling training platform MarketRebellion, Lee says that with Bitcoin surviving a number of hardships in 2021, BTC could solely have clear skies forward for subsequent 12 months.
“I feel Bitcoin… You know, I’m disillusioned it didn’t exit 2021 larger…
I feel it’s nonetheless acquired an opportunity to rally as a result of the S&P is rallying, so Bitcoin ought to transfer contemporaneously with that. 2022 needs to be an excellent 12 months.
Because the issues that disrupted Bitcoin in 2021, akin to China primarily banning mining, attempting to primarily ban Bitcoin, would have been thought of a crypto winter-type occasion, and it didn’t kill Bitcoin.
So, until the US authorities bans Bitcoin subsequent 12 months, Bitcoin has already had a number of the unfavourable catalysts already play out… so I feel Bitcoin may do actually, very well.”
When pressed for a Bitcoin price prediction, Lee states that the price of BTC may explode as much as 4 instances from present ranges by the top of subsequent 12 months.
“Now, when it comes to share upside, once more I’m sort of disillusioned it didn’t attain $100,000 this 12 months, however I feel subsequent 12 months [it will] simply get to the $100,000, however…
Let’s say that it ought to have been $100,000 this 12 months, so perhaps Bitcoin is in that $200,000 vary [next year].”
Bitcoin is buying and selling at $48,642 at time of writing, down over 6% on the day.
Check Price Action
Don’t Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl usually are not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal danger, and any loses you could incur are your accountability. The Daily Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please be aware that The Daily Hodl participates in internet online affiliate marketing.
Featured Image: Shutterstock/Relight Motion/Webuz
