Analyst Predicts Bitcoin Hits $55,000 USD by 2022
In the latest bullish prediction on bitcoin by a Wall Street analyst, Tom Lee of Fundstrat has predicted bitcoin to hit $55,000 per single coin by 2022.
Speaking to CNBC, Lee based his estimates on bitcoin’s limited supply and a hoped-for market stabilization. Lee sees bitcoin as similar to precious metals, a store of value and safe harbor in somewhat turbulent times.
Lee conceded that bitcoin is volatile – putting the annualized volatility at 74 percent – but said that the wild swings would eventually settle down, much as gold did from its wild flux in the 970s.
