Bitcoin Could Reach $200k; Here’s When

It has been revealed that Bitcoin could soon reach $200k. Check out the latest reports about this below.

According to Tom Lee, the head of research at Fundstrat, there is a positive outlook for Bitcoin, and it could potentially reach over $200,000 in the upcoming years.

He also commented on Cathie Wood’s optimistic stance on cryptocurrency, stating that her reasoning is not unfounded.

“I think her idea of network value for bitcoin and scarcity still argues that, if this isn’t an upcycle, her numbers are correct, you know, something in the $200,000-plus range,” he said.

The value of Bitcoin is heavily influenced by the recent regulatory crackdown on crypto markets, which has proven the resilience of the token.

The Securities and Exchange Commission has taken legal action against Coinbase and Binance, accusing them of operating illegally in the US and offering unregistered securities to customers.

This crackdown may negatively affect many tokens, but it has had little impact on the price of bitcoin, which has already hit a low of $25,000, according to experts.

At the same time, the uncertainty has opened the door for some bigger names on Wall Street to enter the market.

That includes the likes of BlackRock, the world’s biggest asset manager, which this month filed with the SEC for the creation of a bitcoin ETF.

“There’s been sort of a stage exit stage left for a lot of players, but then we’ve replaced them with, you know, some of the traditional players that have a lot of credibility,” Lee said. “Like the Blackrock and the Citadels coming into bitcoin.”

A well-known crypto analyst has suggested that Bitcoin (BTC) and stocks may have reached their peak. Justin Bennett, a financial expert, recently expressed his view to his 112,400 Twitter followers that stocks are nearing their highest point.

“The more charts I look at, the more convinced I am that the top is in (or very close) for stocks.

Combine the charts with solid US numbers (gross domestic product, jobs, consumer confidence, etc.) and a bullish-looking 10-year yield, and I’m betting the Fed hikes more than markets expect and keeps rates higher for longer.