Bitcoin (BTC) is primed for boilerplate gains of almost 200% over the next six months, i of its best-known supporters has told mainstream media.

Speaking to Yahoo! Finance on Feb. 4, Tom Lee, co-founder at Fundstrat Global Advisors, said 1 bullish technical factor, in particular, fabricated him "actually optimistic" about Bitcoin'southward short-term potential.

Lee: 200MA triggers 197% returns

"Notably in January — January is usually a calendar week calendar month, it was a cracking month for Bitcoin, up 26% — but it also recovered its 200-day moving boilerplate," Lee explained.

"That'due south a large deal as you know, as anyone who's a tendency follower knows — when y'all're dorsum above your 200-mean solar day, yous're dorsum in a balderdash market. Whenever Bitcoin breaks back into its 200-24-hour interval, its average six-month gain is 197%."

Equally Cointelegraph reported, the 200-twenty-four hours moving average has traditionally represented a major area of resistance for markets.

Bitcoin price; 200-day moving average

Bitcoin price; 200-day moving average. Source: TradingView

BTC 2022 growth tin can beat 2022

Bitcoin, in fact, gained closer to 30% in January before continuing its growth to hit recent highs around $9,450.

For some analysts, the cryptocurrency's almost successful January since 2022 is a sign that its next long-term bull cycle is already beginning.

Lee too considered 2022 to have larger returns in shop for BTC investors than last year, despite 2022 delivering gains which at 1 point crossed 300%.

Like many, he highlighted May's block advantage halving as a "catalyst" for Bitcoin price expansion. Non but will the effect reduce the new Bitcoin supply past 50%, it will also have its aggrandizement charge per unit below that of both gold and the 2% inflation target of the United states of america Federal Reserve.

A historically accurate price forecasting model, Stock-to-Menses, predicts the halving volition trigger a balderdash run to around $100,000 by the end of 2022.

Last month, Lee said the halving outcome was still not "priced in." At the fourth dimension, before the moving average crossover, he said that he envisaged Bitcoin'due south 2022 gains topping out at 100%.