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 investor’s note, Fsinsight’s head of digital asset strategy, Sean Farrell, said the parabolic growth would be due to “legacy market capital entering the fold.”
Fsinsight: “Bitcoin will hit $200,000 in the second half of 2022, Ethereum will jump almost 400%”
While last year’s $100,000 predictions died down in the last month of 2021, bitcoin (BTC) price predictions are starting to appear again this year. According to Fundstrat company Fsinsight, BTC could rise almost 500% from the current price to around $200,000 per unit.
The BTC price prediction stems from Fsinsight and the firm’s head of digital asset strategy, Sean Farrell. Both Fsinsight and Fundstrat are bullish about the upside potential of crypto assets as Fundstrat Global Advisors’ head of research recently insisted bitcoin still has “exponential growth ahead” of it.
Fsinsight and Farrell’s investor note says times are different now that big business and “legacy market capital [is] enter the fold. “It’s very different from 2018 where tech stocks were still doing well, but bitcoin sold off along with the rest of the crypto market capitalization,” Farrell explained. Meanwhile, all eyes are on the Federal Reserve meeting in March as Fed Chairman Jerome Powell hinted at a hike in benchmark interest rates.
Fsinsight’s prediction notes that U.S. policymakers could bring some downside to the leading crypto asset’s price growth. “All assets can sell off and drop another 50% if the Fed hikes 4% tomorrow or next month,” Farrell remarked in the note. “But right now, as things stand, the upside to both bitcoin and [ethereum] is much larger than the downside.”
Meanwhile, digital currency values have surged over the past week, with bitcoin (BTC) surging more than 12% and ethereum (ETH) surging more than 13% in the past seven days. . Fsinsight’s prediction also notes that Ethereum has the potential to inflate the USD value in the last half of 2022. Fsinsight’s investor rating predicts that ETH could climb almost 400% to around 12,000 $ per unit.
