As the year 2022 is just around the corner, people have started making bullish predictions about Bitcoin.
Bitcoin to Reach $200k in 2022
Remember as we were heading towards the year 2021, almost 12 months ago, similar cheers were echoing all over the space. While most medests said the Premier cryptocurrency will indeed reach $100k by the end of the year, many bullish enthusiasts predicted the coin to surpass $200k. Sadly it has not really come true as at the moment we are standing at an all time high of $68k with the current price of 46k.
Recently, Co-founder of the blockchain firm block.one and one of US presidential candidates in the 2020 elections, Brock Pierce has predicted that the BTC will surpass $100k the year 2022. He stated the kind of economic situation the world is in, increasing inflation and continued printing of fiat, it is highly likely for Bitcoin to surpass 6-figures in the coming year. Remaining bullish he further added that it is also conceivable that the Bitcoin might even touch $200k. Pierce stated:
“I will not be surprised if we see a bitcoin price of over $100,000. It’s even conceivable that it could break $200,000 for a moment.”
It is to be remembered here that Pierce had made predictions back in 2020.
Bitcoin, and Traditional Financial Assets
He stated that the investors get attracted to Bitcoin because of the possibility of higher returns; however, he did admit, citing Bitcoin’s volatility, that the coin is not a hedge against more traditional assets.
Further Pierce noted that the regulations could prove good for the crypto if it incorporates the relevant research. He also commented on Elizabeth Warren’s critique of Bitcoin, as he advised her to take time and do some research before doing anything in that regard. Although, Pierce did concede that most of the Bitcoin wealth is in the hands of Small group of investors and more steps should be taken to make Bitcoin more decentralized.