A new report from FSInsight says Bitcoin's supply dynamics are like a “powder keg” and that the price is ready to explode: “The question remains who lights the match?”
Financial research firm FSInsight predicts in a new report that Bitcoin could reach $222,000, and Ether could reach $12,000, by the end of 2022.
At current prices of BTC and ETH , that would mean a nearly five-time and four-time increase in price for each coin respectively.explained several factors that are likely to combine to drive prices to those heights by the end of the year. Compared to other cycles, it would appear that BTC has not achieved what the report calls “overly frothy valuations.” This could be attributed to better efficiency in the market, or a transition from a payment solution to a store-of-value.
The halving is when the mining reward issued per block is reduced by half, reducing the new supply coming onto the market. The 2020 halving saw block rewards go down to 6.25 BTC per block.are also seen as a bullish signal by FSInsight. Illiquid supply of BTC — Bitcoin which has found a long term home in storage — comprises about 75% of the circulating supply. The report states:
“The current supply dynamics can best be described as a powder keg. The question remains who lights the match.”Youtube channel. Host James Mullarney said that due to the current lack of sellers, a “buy between 100,000 and 200,000 Bitcoin within the space of one or two weeks” could send the price up 3X. of BTC is at the lowest level since April 2020, when price was still below $10,000. From that point, BTC price climbed steadily up over the next year to a high of about $57,000 in May 2021.
Ultimately, the report forecasts BTC price to reach a range of $138,000 to $222,000 by the end of 2022.
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