Ask LEO: Is it possible for Bitcoin and Ethereum to hit $200k and $12k before the year ends?

in LeoFinance3 years ago (edited)

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FSInsight which is an independent financial research firm which gives insight on digital assets and blockchains, they have predicted that Bitcoin and Ethereum would mark an All-Time-High (ATH) of $200k and $12k respectively by the end of this year.

They FSInsight said despite the current situation of the coins, they have been making corrections getting their resurgence and due to some catalysts, it would be possible for the coins to hit the mark. Some factors/catalysts they predicted was further nation state adoption of Bitcoin and Ethereum, a rise in capital inflows due to negative real yields, and also every possibility of resuming the risk-on environment.

In terms of further nations adopting Bitcoin, El Salvador recently adopted Bitcoin to become a legal tender in the country, causing distress and worry to the financial institutions like the international Monetary Fund.

However, the FSInsight also continued saying that Bitcoin suffered a critical situation and still in bad shape but they argued that the inflows are what investors should have in mind when they are investing because it’s what moves and makes it the biggest crypto in the world not actually the bull and bear concept they think.

In analyzing Ethereum, they pointed out saying that Ethereum has every potential to hit a $12k mark in the near future and they also pointed that even though in 2021 Ethereum saw a fee growth in the network it’s still undervalued.

Currently according to coinmarketcap.com as at time of writing Bitcoin price is at $44,452 and Ethereum at $3,246 and the FSInsights concluded in saying before the year ends, they both will experience a five-time and four-time price increase and they are sure about it.

Well from their analysis I don’t know how true, because the market forecasts can’t be 100% correct or even 80% due to the market volatility.

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