Research Firm: Bitcoin will hit $200K in the second half of 2022 while Ethereum hit $12K

Research Firm: Bitcoin will hit $200K in the second half of 2022 while Ethereum hit $12K
Bitcoin and Ethereum/ courtesy

Fsinsight, a Fundstrat firm, stated this week in a note to investors that bitcoin may reach $200,000 in the second part of the year. Sean Farrell, Fsinsight’s head of digital asset strategy, claimed the parabolic increase will be due to “legacy market capital entering the fold” in the investor’s note.


‘Bitcoin to Reach $200K in Second half of 2022, Ethereum to Jump Nearly 400%,’ according to Fsinsight.

 

While the $100K predictions from last year vanished in the final month of 2021, bitcoin (BTC) price predictions are beginning to resurface this year. BTC might climb by about 500 percent from its present price point to around $200K per unit, according to the Fundstrat business Fsinsight.

 

Fsinsight and Sean Farrell, the firm’s head of digital asset strategy, came up with the BTC price prediction. Fsinsight and Fundstrat are both bullish on crypto assets’ upside potential, with Fundstrat Global Advisors’ head of research recently claiming bitcoin still has “exponential growth ahead of it.”

 

According to Fsinsight and Farrell’s investor letter, times have changed now that significant corporations and “legacy market capital” have entered the fold. “This is really different from last year, when tech companies were still performing well but bitcoin and the rest of the crypto market cap dropped off,” noted Farrell. Meanwhile, all eyes will be on the Federal Reserve’s March meeting, as Fed Chair Jerome Powell has hinted at rising interest rates.

 

According to Fsinsight, regulators in the United States may stifle the price growth of the biggest crypto asset. “If the Fed rises 4 percent tomorrow or next month, all assets might sell off and collapse another 50%,” Farrell wrote in the note. “However, the upside to both bitcoin and [ethereum] is considerably higher than the risk right now.”

 

Meanwhile, the value of digital currencies has risen in the recent week, with bitcoin (BTC) increasing by more than 12% and ethereum (ETH) increasing by more than 13%. According to Fsinsight, ethereum’s USD value has the potential to increase in the second half of 2022. According to Fsinsight’s investor’s letter, ETH might rise about 400% to around $12K per unit.

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