Bitcoin Will Reach $200K in Second Half of 2022, FSInsight Says

Bitcoin Will Reach $200K in Second Half of 2022, FSInsight Says

Bitcoin has became increasingly correlated with equities toward the end of the 4Q of last year, and fell when faced with the prospect of central bank tightening, FSInsight said in a note entitled “Digital Assets in a Post-Cycle World.”

The correlation has become more pronounced with bitcoin and the wider crypto market now being strongly correlated with technology stocks due to “legacy market capital entering the fold,” Sean Farrell, head of digital asset strategy, wrote in the note on Friday.

However, bitcoin is still king, Farrell wrote, adding that the crypto could reach $200,000 in the second half of the year, following a choppy start to 2022.