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This week in a note to investors, Fsinsight, a Fundstrat company, said bitcoin could reach $200,000 during the second half of the year. In the investorâs note, Fsinsightâs head of digital asset strategy, Sean Farrell, said the parabolic growth would be due to âlegacy market capital entering the fold.â
Fsinsight: âBitcoin to Tap $200K in H2 2022, Ethereum Will Jump Close to 400%â
While last yearâs $100K predictions went silent during the last month of 2021, bitcoin (BTC) price predictions are starting to appear again this year. According to the Fundstrat firm Fsinsight, BTC could increase by almost 500% from the current price point to around $200K per unit.
The BTC price prediction stems from Fsinsight and the firmâs head of digital asset strategy, Sean Farrell. Both Fsinsight and Fundstrat are bullish about the upside potential of crypto assets as Fundstrat Global Advisorsâ head of research recently insisted bitcoin still has âexponential growth aheadâ of it.
Fsinsightâs and Farrellâs investorâs note says times are different now that major businesses and âlegacy market capital [is] entering the fold.â âThis is much different from 2018 where tech stocks were still doing well but bitcoin sold off along with the rest of the crypto market cap,â Farrell explained. Meanwhile, all eyes are on the Federal Reserveâs meeting in March as Fed chair Jerome Powell has hinted at raising benchmark interest rates.
Fsinsightâs prediction notes that U.S. policymakers could bring some downside to the leading crypto assetâs price growth. âAll assets can sell off and drop another 50% if the Fed hikes 4% tomorrow or next month,â Farrell remarked in the note. âBut right now, as things stand, the upside to both bitcoin and [ethereum] is much larger than the downside.â
Meanwhile, digital currency values have increased during the last week as bitcoin (BTC) has climbed over 12% and ethereum (ETH) jumped more than 13% over the last seven days. Fsinsightâs prediction also notes that ethereum has the potential to swell in USD value during the last half of 2022. Fsinsightâs investorâs note predicts ETH could climb close to 400% to around $12K per unit.
What do you think about Fsinsightâs prediction about bitcoin and ethereum skyrocketing to new highs in H2 2022? Let us know what you think about this subject in the comments section below.
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