- In a memo to investors, FSInsight predicted that Bitcoin will surpass $200,000 in the second half of 2022. That’s a 462% increase over the price of the cryptocurrency on Monday morning
- To reach the $200,000 mark, Bitcoin would have to draw a new wave of investors, as it achieved last year, which Farrell believes has a reasonable chance
- Venture investors poured $30 billion in tokens and blockchain startups last year, according to the crypto industry. Major corporations also greatly increased their stakes
FSInsight is a market-leading, non-profit research organization. They’re specialists in U.S. macro market strategy, and they’ll use those foundational insights to become industry leaders in digital asset and blockchain research. We work with a diverse collection of clients all over the world, including multibillion-dollar asset managers, hedge funds, and private banks, representing around 80% of worldwide managed equity assets. Cryptocurrencies have had such a particularly tumultuous month, but a respected market research firm predicts massive gains in the months ahead.
Bitcoin Would Surpass $200,000 With In Second Half Of 2022, According To FSIsinsight
In a memo to investors,Bitcoin would surpass $200,000 with in second half of 2022, according to FSIsinsight. That’s a 462% increase over the price of the cryptocurrency on Monday morning. According to FSInsight, Ethereum is also due for massive gains this year, with a price projection of $12,000, a 385 percent premium to whatever is currently trading. According to the analysis, cryptocurrencies are becoming increasingly linked to technology equities. This is due to legacy market capital entering the fold, according to Sean Farrell, head of virtual asset strategy.
Venture investors poured $30 billion in tokens and blockchain startups last year, according to the crypto industry. Major corporations also greatly increased their stakes. This is a lot different than last year when tech companies were still performing well but Bitcoin and the rest of the crypto market cap dropped off, Farrell explained.
To reach the $200,000 mark, Bitcoin would have to draw a new wave of investors, as it achieved last year, which Farrell believes has a reasonable chance. It would also require a second-half comeback, but prices are already far higher than the bottom of January 24. (though well short of its all-time high)
Ethereum Network Seen Tremendous Growth
Meanwhile, the Ethereum network has seen tremendous growth because of the proliferation of NFTs, Web3 applications, and decentralized finance (DeFi) applications, making it remarkably undervalued, according to Farrell. Of course, bullish forecasts on Bitcoin have been made before, and most optimistic have rarely been correct, but FSInsight and Farrell claim they are still among the believers, as long as the government stays out of it. If the Fed rises 4 percent tomorrow or next month, all assets might sell-off and plummet another 50%, he predicted. However, right now, the upside of both Bitcoin and Ethereum well outweighs the downside.