Bitcoin Predicted to Hit $200K in Second Half of 2022, ETH to Reach $12K – 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.
While the $100K predictions from last year vanished in the final month of 2021, bitcoin (BTC) price predictions are beginning to resurface this year. According to the Fundstrat business Fsinsight, BTC might rise by 500 percent from its current price point to over $200K per unit.
Fsinsight and Sean Farrell, the firm’s head of digital asset strategy, came up with the BTC price prediction. Fsinsight and Fundstrat are both enthusiastic on the upside potential of crypto assets, with the head of research at Fundstrat Global Advisors recently suggesting 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 quite different from last year, when tech businesses were still doing well while bitcoin and the rest of the crypto market cap plummeted,” Farrell pointed out. 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.