Experts believe that Bitcoin price could explode, hitting $200,000 in 2022
- Thomas Lee, a crypto analyst, has doubled his prediction for Bitcoin price, from $100,000 to $200,000 in 2022.
- Analysts have evaluated the Bitcoin price trend and supported Lee's prediction, plotting a similar path for BTC.
- Proponents state that Bitcoin cycles have been broken; shorter ones replace grand multi-year cycles with high liquidity.
Bitcoin price reclaimed its old high above $51,000 and fueled a bullish narrative among investors. Analysts have evaluated the Bitcoin price trend and set a new target above $200,000 for 2022.
Bitcoin price continues its uptrend, and analysts set new price targets
As Bitcoin price makes a comeback above $51,000, analysts are bullish on the asset's price. Following a five-week sell-off, Bitcoin's price has made a comeback and reclaimed its recent high above $51,000.
Tom Lee, a managing partner at Fundstrat Global Advisors, has predicted that Bitcoin price could hit a high above $200,000 in 2022. Nicholas Merten, a popular crypto analyst, supported Lee's prediction and reached a similar conclusion in his Bitcoin price prediction.
Lee believes that ProShares Bitcoin ETF could be approved in 2022, driving Bitcoin price to new highs. Michael Saylor, the CEO of MicroStrategy, has shared his bullish outlook on Bitcoin and stated that the asset would replace gold in the future.
Experts are debating on a pressing issue, whether the Bitcoin halving cycle is delayed, over or broken. @davthewave, a cryptocurrency analyst, believes that the halving cycle is broken, and multi-year cycles are being replaced by shorter market cycles due to a spike in liquidity.
Broken.
— dave the wave (@davthewave) December 27, 2021
Grand multi-year cycles being replaced by shorter market boom/ busts due to increasing liquidity. Everything diminishing... including so-called 'bear markets'.
@rektcapital, a pseudonymous cryptocurrency analyst, believes that Bitcoin needs to flip the 21-day exponential moving average resistance at $51,700 to confirm a breakout to the upside and end the correction.
For #BTC, the green 21 EMA resistance represents the price of ~$51700$BTC needs to flip the green EMA into support to confirm a breakout to the upside & confirm the end the correction
— Rekt Capital (@rektcapital) December 27, 2021
This was the same confirmation that ended the May-July consolidation period#Crypto #Bitcoin pic.twitter.com/5ZwvFuSBrJ
FXStreet analysts have predicted that Bitcoin price is ready to retest $50,000.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
