FSInsight Forecast Predicts BTC and ETH to Skyrocket by the end of 2022

Late last year, and in early 2022, there have been multiple predictions on the crypto market from the largest players in the industry like FTX’s Sam Bankman-Fried, Nexo’s Antoni Trenchev, etc.

With that being said, the recent FSInsight’s predictions were a lot more extreme compared to earlier forecasts. According to the company’s downloadable report posted on February 3rd, Bitcoin may even hit $222K, with ETH going up to $12K by the end of the year.

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Such a price increase in a single year may be plausible due to several reasons. The main one is that BTC is much more widely used and accepted across the industry, and authoritative figures recognize it as a valuable asset, backed by next-gen technologies.

"Bitcoin’s transparent and immutable architecture coupled with its finite and fungible supply allows it to serve as a superior store of value for investors. For this reason, many have dubbed Bitcoin as digital gold." - FSInsight

Likewise, the report suggests that the high demand and low supply for assets such as BTC could ramp up the prices quite heavily. That is partially linked to miners receiving fewer rewards per block due to halving, which will reduce the amount of Bitcoin coming into the market.

Halving is basically an automated algorithm to regulate the supply of Bitcoin, i.e., miners get a reduced reward for solving a block. Halvings get introduced every 4 years, and, currently, miners are awarded 6.25 BTC per block. The goal market cap of Bitcoin is 21M.

FSInsight highlights Bitcoin’s market value to realized value (or MVRV) which shows if the digital asset is undervalued or overvalued. Based on the report, Bitcoin is now at its lowest MVRV since April of 2020. 

Likewise, the report predicts that ETH has the potential of going up tremendously due to its annual growth rate of 1,564% since 2020.

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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