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According to experts, the price of Bitcoin might skyrocket, reaching $200,000 by 2022.
Thomas Lee, a cryptocurrency expert, has increased his price projection for Bitcoin from $100,000 to $200,000 in 2022.
Analysts examined the Bitcoin price movement and agreed with Lee’s projection, predicting a similar future for BTC.
According to proponents, Bitcoin cycles have been fractured, with shorter ones replacing big multi-year cycles with great liquidity.
Bitcoin price recovered its historic high above $51,000, fueling an investor positive narrative. Analysts have assessed the Bitcoin price trend and established a new target price of more than $200,000 for 2022.
The price of bitcoin continues to rise, as analysts set new price estimates.
Analysts are optimistic about the asset’s price as it rises beyond $51,000. Following a five-week sell-off, the price of Bitcoin has recovered and restored its previous high above $51,000.
Tom Lee, a managing partner at Fundstrat Global Advisors, predicts that Bitcoin will reach a high of more than $200,000 in 2022. Nicholas Merten, a well-known cryptocurrency expert, agreed with Lee’s projection and came to a similar result in his Bitcoin price prediction.
