If you are thinking of buying Bitcoin in the near future then read this article till the end. Have you also got excited by seeing the recent bounce of Bitcoin therefore planning to buy it? Well, you may be in luck after buying bitcoin according to this report. According to a new forecast from financial research firm FSInsight, Bitcoin might reach $222,000 by the end of 2022, while Ether could reach $12,000.
At current BTC ($43,350) and ETH ($3,080) prices, that would be a nearly five-fold and four-fold increase in price for each coin.
Several variables, according to the report “Digital Assets In A Post-Cycle World”, are likely to combine to bring values to such levels by the end of the year. In comparison to prior cycles, it appears that BTC has not hit “overly exuberant valuations,” according to the analysis. This could be due to increased market efficiency or a shift from a payment solution to a store of value.
The lack of bubble-like prices is demonstrated by the fact that the BTC market cap has only increased by 3.7x since the May 2020 Bitcoin halving. This is the smallest growth since the halving in 2016, when the market cap increased by 4.2x.
The market value to realised value (MVRV) of BTC has been at its lowest level since April 2020, when the price was still around $10,000, according to the FSInsight research. BTC’s price rose substantially throughout the next year, reaching a high of almost $57,000 in May 2021.
Well, these types (5 times) of returns seem to be in La La Land. Do you agree with this report? Comment below.
