FSInsight analyst forecasts Bitcoin to reach $200,000 in 2022

The price of the leading cryptocurrency could reach $200,000 in the second half of 2022, FSInsight analyst Sean Farrell said.

In our 2022 Digital Assets Outlook webinar with @SeanMFarrell , he explained our @fs_insight #BTC evidence-based, price target along with insights on #ETH, #NFTs, and MORE!

Join @fs_insight and get the full replay! https://t.co/oASSSdoKn9https://t.co/Ihn3MY50wP

— FSInsight (@fs_insight) February 7, 2022

In his view, Bitcoin’s correlation with equities intensified in the fourth quarter of last year. Digital gold slid in price as soon as a narrative of tighter monetary policy from the ФРС emerged. The rest of the crypto market now also tracks tech stocks more closely.

However, Farrell says Bitcoin’s dominance over altcoins remains unshaken. The BTC price, despite a ‘rocky start’ in early 2022, could ultimately reach $200,000.

In the FSInsight report, Ethereum is undervalued — the second-largest cryptocurrency could reach $12,000 this year.

The analyst remains upbeat about Ethereum’s transition to the Proof-of-Stake consensus. If the process goes smoothly, capital inflows to the ecosystem would strengthen, ‘regardless of Bitcoin’s performance’.

Earlier, JPMorgan analysts cut the fair value of the leading cryptocurrency from $150,000 to $38,000.

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