It managed to get rid of the selling pressure that lasted for five weeks. Bitcoin (BTC)made a ‘bull run’ which finally managed to reach $51,000, one of the previous highs.
In the past 24 hours, Bitcoin has risen 3% to reach $51,113. Bitcoin is currently trading around $50,830 at the time of writing.
Bitcoin Will Reach $200,000 in 2022!
Managing partner of Fundstrat Global Advisors Tom LeeHe predicts that Bitcoin could reach a high of $200,000 in 2022, even though 2021 ends with a rather disappointing end as Bitcoin regains its previous highs.
Popular crypto analyst Nicholas Merten bitcoin He came to the same conclusion as Tom Lee, claiming that Bitcoin could quadruple in price at some point in 2022, thus leading to a valuation of $200,000.
Prior to Bitcoin’s all-time high of $68.8k on November 10, Tom Lee predicted that the ProShares Bitcoin ETF approval would push the BTC price to new highs. While this actually happened, the bulls failed to sustain the bullish momentum and finished Bitcoin significantly below its estimated $100,000 valuation.
Microstrategy CEO Michael Saylor remains optimistic about the future of Bitcoin, believing that it will replace gold in the future as Bitcoin moves towards a valuation of $6 million.
On the other hand, even though we know the price of Bitcoin, its value is probably zero, according to Steve Hanke, professor of applied economics at Johns Hopkins University.
But why should you care about these explanations?
Bitcoin as an asset matured in 2021, showing increased availability and resilience to bearish pressure. These are all factors that can help you on your way to domination.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.