Experts believe that the Bitcoin price could explode and reach $200,000 in 2022. Thomas Lee, a crypto analyst, doubled his prediction for the price of Bitcoin in 2022 from $100,000 to $200,000. Analysts evaluated the Bitcoin price trend and supported Lee’s prediction, charting a similar path for BTC. Crypto enthusiasts state that Bitcoin cycles have been broken; the shorter ones seem to have replaced the large multi-year cycles. Detail Cryptocoin. com
What did they say about the Bitcoin price?
Bitcoin price regained its former high above $51,000, fueling a bullish narrative among investors. Analysts evaluated the Bitcoin price trend and set a new target of over $200,000 for 2022. Bitcoin price continues its uptrend and analysts have set new price targets. Analysts are optimistic about the price of the asset as Bitcoin price climbs above $51,000. After five weeks of selling, Bitcoin’s price has bounced back and recaptured its recent high above $51,000.
Tom Lee, managing partner of Fundstrat Global Advisors, predicts that the Bitcoin price could rise above $200,000 in 2022. Nicholas Merten, a popular crypto analyst, supported Lee’s prediction and came to a similar conclusion in his Bitcoin price prediction. Lee believes that the ProShares Bitcoin ETF could be approved in 2022 and will take the Bitcoin price to new heights. Michael Saylor, CEO of MicroStrategy, shared his bullish outlook on Bitcoin and stated that the asset will replace gold in the future. Experts are arguing over the pressing issue of whether the Bitcoin halving cycle has been delayed, ended or broken. @davthewave, a cryptocurrency analyst, believes that the halving cycle has been broken and multi-year cycles are being replaced by shorter market cycles due to the increase in liquidity.
@rektcapital, a cryptocurrency analyst by the alias
, believes that Bitcoin must break the 21-day exponential moving average resistance at $51,700 to confirm an upside break and end the correction. FXStreet analysts predict that Bitcoin price is poised to retest $50,000.
BTC price action
According to crypto analyst Lark Davis, who argues that $ 50 thousand is a bit of a psychological support level, Bitcoin (BTC) may be ready for new gains by coming out of the last downtrend.
BTC regained $51,000 today after a slight drop to $49,670 over a normally quiet Christmas weekend. As of press time, Bitcoin was trading at $51,598 today. Today is the fourth day since December 23 that over $50,000 has been traded. The core of the $50,000 support was noted by on-chain analytics firm Santiment as follows:
With Bitcoin surging above $51,000, trader sentiment is back in the positive range. As expected, $50,000 has become a psychological support level where traders are optimistic when above this threshold and skeptical when below.
Investor hodling rate reaches 11-month high. According to on-chain analytics firm Glassnode, the amount of “HODLed or Lost Coins” of Bitcoin has reached an 11-month high of 7.25 million BTC. Lost or HODLed Bitcoins point to the movement of large and old stashes, indicating an increase in out-of-circulation tokens – they may have been held in cold wallets by their long-term holders or lost due to human error with a slight probability of recovery. The increase in this indicator shows that the one-year increase in Bitcoin price, as well as the expectation of further upward movement, may lead traders to hold BTC tokens instead of exchanging them for other assets.
In the absence of breaking news or influential tweets, Bitcoin bulls and bears continue to battle towards $52,000 with an overall unstable risk appetite that has investors scared. However, the possibility of a BTC rally beyond here and into the new year remains, as the chances of a local bearish dwindle. The bottom price’s pullback from December lows of $42,333 is stronger as investors watch intently. The BTC/USD pair is now higher after bouncing from intraday lows of $50,480 earlier in the day. Bitcoin’s price has increased by more than 3.5% in the last 24 hours, indicating that this rally may continue.