Bitcoin And Ethereum New Price Predictions For 2022 | CryptoGazette
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There are some new predicitons out about the price of ETH and BTC for 2022. Check them out below.
The crypto market has been undergoing various price corrections lately, and it’s important to note the fact that this is not stopping bullish predicitons from popping up.
Bloomberg’s senior commodity strategist thinks both Bitcoin (BTC) and Ethereum (ETH) are primed to surge during this year.
In a new analysis, Mike McGlone explained that both BTC and ETH have solid bases to build on.
Bitcoin is in a consolidation market
He predicted that they would remain dominant among cryptos during this year. He also said that Bitcoin would be moving toward $100,000, and Ethereum will be breaching $5,000.
McGlone thinks Bitcoin is in a “consolidating bull market” and predicted that the US Federal Reserve’s new policies will actually be beneficial for BTC.
Federal Reserve officials have recently hinted at the fact that they plan to scale back asset purchases and raise interest rates next year in an effort to fight inflation.
The Bloomberg analyst said the following:
“Expectations for Federal Reserve rate hikes in 2022 may support a win-win scenario for Bitcoin vs. the stock market… A reason to take back liquidity is the fact that the S&P 500 is the most extended above its 60-month moving average in over two decades.”
He also made sure to explain that commodities and Bitcoin appear to be early reversion leaders.
“It’s a question of bull-market duration, and we see the benchmark crypto coming out ahead.”
Bullish BTC price prediciton
There are more bullish BTC price predicitons out there. A recent one, we addressed the other day.
He said that Bitcoin could hit $100,000 in 2022, and explained why the king coin could fall to a low of $37,500.
Bitcoin is trading at $41,450 at the time of writing and reaching the six-figure price would require a price increase of slightly over 135%.
He also said the bear market could start soon after Bitcoin has reached a price of over $100,000.
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