• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Bitcoin

Why Fundstrat Still Sees Bitcoin Hitting $200,000, Despite Panic Caused By FTX Meltdown

Christian Encila
by Christian Encila
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin has already lost more than 76% of its November 10, 2021 all-time high value (ATH) of $69,044 when its overall market capitalization reached $1 trillion.

The digital asset is enduring quite a challenging year, first having to deal with the ongoing crypto winter and the losing all gains it had when the market rallied towards the end of October due to the sudden collapse of the FTX exchange platform.

After managing to reclaim the $21K territory, BTC was once again in a downward trend and is now struggling to hit even just the $17,000 region.

At the time of this writing, according to tracking from Coingecko, Bitcoin is trading at $16,473 and although it has posted an increase of 4.1% over the last seven days, it is still down by almost 21% for the past 30 days and by 71% on a year-to-date (YTD) basis.

The maiden crypto is not in a good spot right now and some of its bullish investors, such as Fundstrat, are aware of it.

Related Reading: Bitcoin Is Not The Problem – FTX Is – R. Kiyosaki Says, Following Crypto Exchange’s Collapse

Equity Research Firm Believes Crypto, Bitcoin Not Yet Dead

Earlier this year, Fundstrat captured the attention of the crypto space when it said that Bitcoin will likely hit $200,000 this year.

Unfortunately, such a bullish forecast failed to become a reality as BTC moved in the opposite side of that idea, losing most of the value it achieved last year.

Image: Bitcoin Association

When asked last week whether or not he believes crypto is already dead, Fundstrat head of research and managing partner Tom Lee was adamant that this is not the case.

“It’s an important moment for the industry. I think it is cleaning a lot of and cleansing a lot of bad players. But do I think crypto is dead? No. I think there’s a lot of people throwing gasoline in a crowded theatre and yelling ‘fire,’” said Lee.

The research head, though, admitted that 2022 is a horrific and bad year because no one in the industry made money. He, however, insisted that this is not unlike the May crypto winter that paved way for the development of some of the best projects in the space.

Tom Lee Weighs In On FTX Implosion 

When asked about his take on the collapse of the FTX that left the crypto market in a beaten state, Lee said what happened to the company leans more towards lack of internal regulation and wasn’t caused by a flawed business model.

The Fundstrat managing partner said:

“If you look at an industry like crypto that’s self-regulated, it is important to create, essentially, some sort of functioning central-bank-like activity that can conduct operations when there is stress… FTX itself was not capable of playing that role.”

Meanwhile, as to what awaits the crypto space and Bitcoin in 2023, Lee said next year might be a terrible one again if there is more fraud although he also thinks that from the ashes of this crashing year, the industry might rise stronger and become better.

Related Reading: Bitcoin Price Could Plunge Below $16,000 Due To China’s Civil Uproar

BTC total market cap at $316 billion on the daily chart | Featured image from Scott Mlyn | CNBC. Chart: TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Crypto

Crypto ATM Scams In Arizona Face Incoming Crackdown – Details

5 hours ago
Best Altcoins to Buy as Options & Derivatives Push Bitcoin Toward $10T Market Cap

Best Altcoins to Buy as Options & Derivatives Push Bitcoin Toward $10T Market Cap

10 hours ago
Breakout signaal op XRP charts - Gemini en Chatgpt voorspellen Augustus pump

Gemini AI voorspelt: XRP, Shiba Inu en Solana koers pump in oktober

11 hours ago
Solana Staking ETFs Could Be Approved in 2 Weeks – Why $SNORT Could Be the Biggest Beneficiary

Solana Staking ETFs Could Be Approved in 2 Weeks – Why $SNORT Could Be the Biggest Beneficiary

11 hours ago
Bitcoin’s Global Adoption Will Explode Soon, With Bitcoin Hyper’s $18.6M Making Massive Gains

Bitcoin’s Global Adoption Will Explode Soon, With Bitcoin Hyper’s $18.6M Making Massive Gains

9 hours ago
Bitcoin

Bitcoin, Ethereum, And Dogecoin Suffer Beatdown, But These Factors Say Get Ready For A Bounce

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    3 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    5 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    6 days ago
  • Snorter надхвърли $4 милиона след...

    7 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.