https://ift.tt/3sOcboD Pierce and Tom Lee believe Bitcoin could hit $200k in 2022.

Despite missing the mark with their $100,000 Bitcoin price predictions this year, Former Chief Strategy Officer at Block One Brock Pierce and co-founder of research firm Fundstrat Global Advisors Tom Lee are holding out that Bitcoin could hit $200,000 in 2022. Essentially they are doubling down on their ambitious projections for 2022, even though Bitcoin’s all-time high of $69,000 was set on Nov. 10 and, BTC is currently trading at $46,270.

Tom Lee predicts $200,000 for BTC in the Dec. 23.

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

Bitcoin exchange-traded funds (ETF) would attract at least $50 billion over the next 12 months.

Tom Lee 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 between Valkyrie, Van Eck, and ProShares’ offerings. Brook Pierce meanwhile said that it was “conceivable that it could break $200,000 for a moment and come falling back again.” In a Jan. 22 article at the start of the year, 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.”