While the beginning of 2022 has been pessimistic for major projects in the crypto market, by the end of the year, a significant wave of appreciation could hit bitcoin and ethereum.
According to a new report released by FSInsight, the price of bitcoin (BTC) could reach US$ 200 thousand as early as the second half of 2022. Meanwhile, the price of ether (ETH) is expected to exceed US$ 12 thousand in the same period.
Should these projections come true, the price of ETH will face a 300% appreciation in the coming months, considering the current market price of ETH currently at US$ 3 thousand.
Bitcoin should follow the same path to reach US$ 200 thousand. In the case of BTC price, the forecast points out that it will take a 400% appreciation for the cryptoasset to reach this price.
The explanation behind the bitcoin price forecast suggests that the digital currency is increasing its correlation with the stock market, especially those that are part of technology companies.
Thus, a major recovery in the stock market could reverberate in a significant appreciation of the bitcoin price in the coming months, which could reach US$ 200 thousand.
On the other hand, the report shows that the current market price of the ether does not correspond to the reality of digital currency. With the Ethereum network gaining prominent space in the decentralized finance market and major upgrades expected by 2022, ETH could reach US$ 12 thousand, according to the FSInsight report.