Bitcoin could hit $200K and Ethereum $12K by 2022, report shows
Bitcoin (BTC) and Ethereum (ETH) are still going to skyrocket in price in 2022, says market strategy and research firm FSInsight in a report entitled “Digital Assets in a Post-Cycle World”, published last week.
According to the analysis, it is stated that the correlation between Bitcoin and stocks increased in the last quarter of 2021 and the cryptocurrency fell with the expectation of monetary opening by the central bank of the United States.
For Sean Farrell, digital assets strategy leader, the correlation was accentuated and the greater convergence between BTC and cryptocurrencies with the shares of technology companies was due to the “inflow of traditional capital”.
However, according to him, the reign still belongs to Bitcoin, which could reach $200,000 in the second half of 2022, after starting the troubled year.
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FSInsight also said that decentralized finance (DeFi), non-fungible tokens (NFTs), and other Web 3 applications have brought tremendous growth to the Ethereum network. According to the report, regarding cloud platforms, Ethereum is undervalued and ETH could hit $12K this year.
For the company, there is optimism about the transition of the cryptocurrency to the proof-of-stake mechanism in 2022. The result of the change would be the inflow of capital decoupled from the performance of Bitcoin.
At the time of writing, Bitcoin was trading at $42,750 and Ethereum at $3,068.
Bitcoin could hit $200K and Ethereum $12K by 2022, report shows Bitcoin (BTC) and Ethereum (ETH) are still going to skyrocket in price in 2022, says market strategy and research firm FSInsight in a report entitled “Digital Assets in a Post-Cycle World”, published last week.
According to the analysis, it is stated that the correlation between Bitcoin and stocks increased in the last quarter of 2021 and the cryptocurrency fell with the expectation of monetary opening by the central bank of the United States.
For Sean Farrell, digital assets strategy leader, the correlation was accentuated and the greater convergence between BTC and cryptocurrencies with the shares of technology companies was due to the “inflow of traditional capital”. However, according to him, the reign still belongs to Bitcoin, which could reach $200,000 in the second half of 2022, after starting the troubled year.
Crypto Today: Top Crypto Market News FSInsight also said that decentralized finance (DeFi), non-fungible tokens (NFTs), and other Web 3 applications have brought tremendous growth to the Ethereum network. According to the report, regarding cloud platforms, Ethereum is undervalued and ETH could hit $12K this year.
For the company, there is optimism about the transition of the cryptocurrency to the proof-of-stake mechanism in 2022. The result of the change would be the inflow of capital decoupled from the performance of Bitcoin.
At the time of writing, Bitcoin was trading at $42,750 and Ethereum at $3,068.