Last year’s $100K price predictions were silent for the last month in 2021. However, Bitcoin (BTC), price forecasts are beginning to emerge again this year. The Fsinsight Fundstrat firm claims that BTC could rise by nearly 500% to $200K per unit from its current price point.
Fsinsight’s head for digital asset strategy, Sean Farrell, has provided the BTC prediction. Fundstrat and Fsinsight are both bullish on crypto assets’ upside potential. Fundstrat Global Advisors head of research has recently stated that bitcoin still has “exponential growth ahead” of it.
Farrell and Fsinsight’s investor’s notes state that times have changed now that major businesses and “legacy capital” are entering the fold. Farrell explained that this is a marked change from 2018, when tech stocks did well, but bitcoin was sold off with the rest. All eyes will be on the Federal Reserve meeting in March, where Fed chair Jerome Powell hinted at raising benchmark rates.
Fsinsight’s prediction reveals that U.S. policymakers may have some negative effects on the crypto asset’s price rise. Farrell noted in the note that all assets could be sold off and dropped another 50% if there is a Fed hike of 4% tomorrow or next week. “But at the moment, both bitcoin and [ethereum] have more upside than downside.”
The digital currency value has risen over the past week. bitcoin has climbed more than 12%, and Ethereum has jumped more that 13% in the last seven days. Fsinsight also predicts that ethereum could see a rise in USD value over the second half of 2022. Fsinsight’s investor note predicts Ethereum could rise close to 400% to $12K per unit.