In a recent interview, Thomas Lee, Co-Founder, Managing Partner and the Head of Research at independent research boutique Fundstrat Global Advisors, explained why he remains very bullish on Bitcoin’s long-term prospects.
On December 24, trading education firm Market Rebellion had a roundtable event — featuring Lee as a special guest — that aimed at making some market predictions for 2022.
When Lee was asked to talk about what he thinks will happen to the price of Bitcoin next year, Lee had this to say:
“I think Bitcoin… I’m disappointed [that] it didn’t exit 2021 higher. I mean, I think it’s still got a chance to get to rally because the S&P is rallying and so Bitcoin should move contemperous with that.
“2022 should be a good year because the things that disrupted Bitcoin in 2021 — such as China essentially banning mining, trying to essentially ban Bitcoin — that would have been considered a crypto winter-like event and it didn’t kill Bitcoin.
“So unless the US government bans Bitcoin next year, Bitcoin has already had some of the negative catalysts play out. So I think Bitcoin could do really well. Now, in terms of percentage upside, again I’m kind of disappointed. It didn’t reach $100,000 this year, but I think next year, you know, easily getting to the $100,000, but let’s say that it should have been $100,000 this year.
“So maybe Bitcoin is, you know, in that $200,000 range. I mean, I think that’s achievable and I know it sounds fantastical, but it’s it’s very useful. And if you don’t think crypto is that useful, it’s hard for anyone who’s based in America to appreciate how quickly trust in government can change.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.