RE: Tom Lee - "Bitcoin will hit $25k by... 2022"
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| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|---|---|---|
| $100 | $200 | $400 | $800 | $1600 | $3200 | $6400 | $12800 | $25600 | $51200 |
I don't understand why anyone is still listening to this guy.
He's wrong every single time.
The base value of Bitcoin at the end of 2022 is going to be $51k.
The base value at the beginning of 2021 is $25.6k.
There's going to be a bubble somewhere along the lines that pushes the price to x10+ the baseline, so Bitcoin should be 100k+ sometime within the next 2 years.
If this impending economic crisis is as bad if I think it's going to be, and if that's as bullish for Bitcoin as I think it is, that x10 above the baseline might be more like x100... honestly I hope that doesn't happen because the crash back down to the baseline would absolutely destroy everyone who didn't get in early. We'd probably be in a bear market for a full 2 years at least (and that would be during the worst recession the world has ever seen).
:(
Bitcoin could easily hit $25k next month. I like this guy's bullishness, but his predictions are just completely useless.
His track record with stocks is actually extremely good. Him and his team have been better than just about anyone else over the past decade. Regarding btc, everyone talks about his misses, but if you go back to 2016 when he first came on the scene he nailed a couple of his first price predictions as well. He has missed a few as of late but I like the fact that they at least base their predictions off of data as opposed to just pulling numbers out of the air, like many of the crypto prognosticators tend to do.
He basically has two predictions.
One is based on network activity and one is based off of past cycles/trends. Not sure which one is more likely to be right. Just because bitcoin has doubled every year previously doesn't guarantee that model will continue to play out. Though we will likely have to wait till about 2021 to really put it to the test.