Tom Lee: The bitcoin can rise to 20,000 by 2022

The boom of the crypto-currencies and its record-high appreciation is largely at the expense of gold, said Tom Lee, managing director of Fundstrat Global Advisors.
The strong appreciation, from 172% in the bitcoin and over 3200% in the ethereum, is largely at the expense of gold, according to the expert.
For the last time, the bitcoin is traded at just over $2,600, and the ethereum at $266. The first cryptocurrency recorded historical records at levels of about $3,000 in June, and the second at a level of nearly $400.
Lee added that the number of new added bitcoins slowed down significantly in the past year, to 4.4% of the total, compared with 9.3% a year earlier. There is a further delay in the supply of the bitcoin, which may trigger an even greater increase in the future.
On the other hand, Lee adds that the supply of gold has grown "seriously" since 2009. At present it is at a record 3,100 metric tons.
Lee has a very optimistic forecast for investors in bitcoin. According to the analyst's baseline scenario, it is possible that the value of the bitcoinship will rise to $20,000 by 2022. In the most optimistic scenario, however, the bitcoin can rise to $55,000.
A potential factor that could lead to an outburst in the value of cryptocurrencies may be potential purchases of cryptocurrencies by central banks. The total capitalization of bitcoin is currently about $42 billion. And if it rises to $500 billion, it's entirely possible central banks to include in the game, Lee said.