Projections that Bitcoin would hit $200,000 flop

A year ago, crypto analysts, riding high from the successes of 2021, had big hopes for Bitcoin, with some of them seeing the token hitting $100,000 or more in 2022.

That's a far reach from where the coin is actually ending this annus horribilis: $16,500.

Bitcoin, weighed down by an uber-hawkish Federal Reserve and a string of scandals and implosions of…