- 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Celebrity meme coins controversy continues amid Pump.fun revenue dominance
Pump.fun outperformed the Ethereum blockchain on Tuesday after raking in $1.99 million. Following this achievement, a meme coin based on actress Sydney Sweeney was the subject of controversy after its developers dumped their bags on investors.
PEPE's on-chain metrics indicate potential rally after weeks of silence
PEPE has struggled to see any significant price move after reaching an all-time high in May. Increased adoption rate and low MVRV ratio indicate a bullish run may be on the horizon. A single PEPE outflow from Binance worth $14.7 million gives credence to signs of bullish expectation.
Ethereum has failed to overcome key resistance despite bullish sentiment surrounding ETH ETF
Ethereum (ETH) is down more than 1.4% on Tuesday following another ETH sale from the Ethereum Foundation. Meanwhile, crypto exchange Gemini's recent report reveals that ETH ETF could see about $5 billion in net inflows within six months of launch.
Crypto community blasts Polkadot following report of treasury spending
Polkadot reports $87 million of treasury spending during H1. Crypto community members expressed harsh feelings toward the DOT team's high spending. DOT is up more than 2% in the past 24 hours but risks correction following the report.
Bitcoin: BTC price correction could end in July, according to seasonal data
Bitcoin (BTC) price appears poised for a decline this week, influenced by slight outflows in US spot ETFs, selling activity among BTC miners, and a combined transfer of 4,690.28 BTC to centralized exchanges by the US and German governments.