Brock Pierce and Tom Lee tip $200K BTC in 2022, despite missing the mark in 2021

Despite
missing
the
mark
with
their
$100,000
Bitcoin
(BTC)
price
predictions
in
2021, Block
One
former
chief
strategy
officer
Brock
Pierce
and
Fundstrat
Global
Advisors
co-founder
Tom
Lee
are
both
tipping
Bitcoin
could
hit
$200,000
in
2022.

Essentially,
they
are
doubling
down
on
their
ambitious
projections
for
2022,
even
though
Bitcoin’s
high
water
mark
of
$69,000
was
set
on
Nov.
10,
and
BTC
is
currently
trading
at
$46,270.

Lee predicted $200,000
for
BTC
in
the
Dec.
23
Market
Rebellion
Roundtable
discussion.
He
said:

“So,
maybe
Bitcoin
is
in
that
$200,000
range.
I
mean,
I
think
that’s
achievable,
and
I
know
it
sounds
fantastical,
but
it’s
very
useful.”

Lee
previously
maintained
his

2021
BTC
price
prediction

of
$100,000
as
late
as
October
in
light
of
ProShares
launching
the
first
Bitcoin
exchange-traded
fund
(ETF)
in
the
United
States.

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

Pierce,
meanwhile,
told
Fox
Business
on
Wednesday
that
it
was
“conceivable
that
it
could
break
$200,000
for
a
moment
and
come
falling
back
again.”

In
a

Jan.
22
article
,
Pierce
had
cited
$100,000
at
the
top
of
the
range
for
2021:

“There
really
are
not
many
levels
where
I
(anticipate)
Bitcoin
seeing
resistance.
We
could
get
anywhere
from
$70,000
to
$100,000
by
the
end
of
the
year,
but
it
will
not
be
without
volatility.”

In
fairness
to
Pierce,
the
lower
end
of
the
range
was
indeed
hit
on
Nov.
10.

Popular
anonymous
Bitcoin
price
analyst
PlanB
has
made
his
name
with
his
price
predictions
and
stock-to-flow
model.
On
June
20,
PlanB
correctly
predicted
that
BTC
would
hit
$63,000
in
October,
but
he
missed
his
$98,000
and
$135,000
marks
for
November
and
December,
respectively,
as
his
“worst-case
scenario.”

PlanB
has
defended
his
predictions
by
claiming
the
accuracy
of
his
statistical
models
to
within
one
standard
deviation.
Although
his
price
predictions
were
off,
he
said
in
a
Saturday tweet:

“$50K–$200K
1
standard
deviation
band
feels
wide.
Some
people
think
this
makes
S2F
model
invalid
and
not
useful,
but
is
it??”



Related:




Bitcoin
dips
below
$47K,
but
one
trader
is
eyeing
‘solid
risk/reward’
for
longing
BTC
now

Bobby
Lee,
founder
and
CEO
of
Ballet
Crypto, predicted that
BTC
would
hit
$300,000
this
year
back
on
Mar.
22
on
CNBC’s
Squawk
Box.
This
was
one
of
the
most
ambitious
predictions
to
miss
the
mark
this
year.

Each
public
figure’s
wrong
predictions
go
to
highlight
the
need
to
do
your
own
research
in
cryptocurrency
investing
and
to
take
price
predictions
as
a
bit
of
fun,
rather
than
a
serious
guide
to
the
future.

read original article here