FSInsight, a leading independent research firm in its field, noted in a note titled ‘Digital Assets in a Post-Cycle World’ that leading crypto Bitcoin (BTC) is increasingly linearly correlated with equities towards the end of the fourth quarter of last year, and He says it started to decline when faced with the possibility of tightening central banks in the face of rising inflation. We have prepared the Bitcoin evaluations and predictions of the research company for Kriptokoin.com readers.
Predictions from FSInsight that delight Bitcoin and Ethereum investors
Sean Farrell, head of digital asset strategy at FSInsight, said in a Friday note that the correlation between Bitcoin and the capital markets is becoming more pronounced, and as institutional companies and funds enter the crypto market, Bitcoin is now strongly associated with tech stocks. However, Sean Farrell adds that Bitcoin is still the leader, and after a volatile start to 2022, the coin could reach $200,000 in the second half of the year.
FSInsight also highlights that decentralized finance (DeFi), Non Fungible Tokens (NFTs) and other Web 3 applications are driving the massive growth of the Ethereum network. The report states that the leading altcoin Ethereum is undervalued compared to cloud platforms, and the network’s native token, ETH, is estimated to reach $12,000 by 2022.
In the note prepared by FSInsight, it is also stated that there is optimism about Ethereum’s transition to Proof of Stake (PoS) consensus in 2022, and if this development occurs, it will likely result in capital inflows regardless of Bitcoin performance.
From the last weeks when crypto winter was talked about, the situation of the crypto market does not look bad at all. Led by the leading crypto, the market started to show signs of life, and Bitcoin saw the $ 40,000 levels again from the $30,000 levels it had been circulating for a while. Following him, the leading altcoin Ethereum also managed to rise above $ 3,000. According to CoinMarketCap data, at the time of writing, BTC is trading at $44,228 with a gain of 6.34% in the last 24 hours, while ETH is changing hands at $3,172 with an increase of 6.04%.
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