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Brock Pierce and Tom Lee forecast BTC price of $ 200,000 for 2022

 


Although they were wrong in their prediction that Bitcoin ( BTC ) would rise to $ 100,000 in 2021, former Block One chief strategist Brock Pierce and Fundstrat Global Advisors co-founder Tom Lee predict that Bitcoin will rise in 2022 Could go up to $ 200,000.


This doubles their forecast for 2022, even though Bitcoin hit its last all-time high of $ 69,000 on November 10 and BTC is currently at $ 46,270.


Lee predicted a rate of $ 200,000 for BTC in a panel discussion on December 23. He explained:


"So, maybe Bitcoin is in the $ 200,000 range. I mean, I think this is doable, and I know it sounds awesome, but it's very useful."

Lee stuck to his BTC price forecast of $ 100,000 for 2021 in October after ProShares launched the first exchange-traded Bitcoin fund (ETF) in the United States.


At the time, he also predicted Bitcoin ETFs would attract at least $ 50 billion over the next 12 months. American Bitcoin ETFs currently hold approximately $ 1.5 billion in assets in the offerings of Valkyrie, VanEck and ProShares.


Pierce told Fox Business on Wednesday that it is "conceivable that the price climbs to over $ 200,000 for a short time and then falls back again."


In a Jan. 22 article , Pierce cited $ 100,000 as the high end of the range for 2021:


"There really aren't many levels at which I expect Bitcoin to resist. We could hit between $ 70,000 and $ 100,000 by the end of the year. But not without fluctuations, of course."

In fairness to Pierce, the lower end of the range was actually hit on November 10th.


The popular Bitcoin analyst PlanB has made a name for itself with its price predictions and its stock-to-flow model. On June 20, PlanB correctly predicted that BTC would hit $ 63,000 in October. However, he was wrong with his forecasts for November and December, which were $ 98,000 and $ 135,000, respectively.


PlanB has defended its predictions, claiming that its statistical models are accurate to within one standard deviation. Although he was wrong with his price predictions, he said in a tweet on Saturday:


"A standard deviation between $ 50,000 and $ 200,000 looks very broad. So some people think that this makes the S2F model invalid and not useful. But is it?"

Ballet Crypto founder and CEO Bobby Lee predicted on CNBC's Squawk Box March 22nd that BTC would soar to $ 300,000 this year. That was one of the most ambitious forecasts that did not materialize this year.



All of these unrealized forecasts from public figures show that one should do their own research when it comes to cryptocurrency investments and view price forecasts as a fun city rather than a safe forecast.

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