Cryptocurrencies , despite their volatility, remain generally bullish assets and it’s no wonder they’re making all-time highs this year. In the case of some of the most popular cryptocurrencies, such as Ethereum and Bitcoin , experts not only foresee new highs in the coming months, but dizzying figures that would multiply several times their current value in the second half of 2022.
Bitcoin and Ethereum, up to 462% more than today
The highly bullish analysis for both cryptocurrencies is signed by Sean Farrell, head of digital asset strategy at FSInsight , in a note to investors. According to his estimates, Bitcoin could reach $200,000 (175,000 euros) in the second half of 2022, while Ethereum (ETH) would reach $12,000 (10,500 euros) in the same period. This would represent an approximate increase of 462% and 385% respectively compared to their current values.
“Right now, as things stand, the upside to both Bitcoin and Ethereum is much greater than the downside,” the financial analyst says.
Bitcoin
To reach the $200,000 target, Bitcoin would need to attract another wave of investors, as it did last year, something Farrell says he sees a “reasonable chance” of happening. It would also require the market to recover in the second half.
As for Ethereum, the growth in NFTs , Web 3 applications, and decentralized finance (DeFi) apps has resulted in significant growth for the Ethereum network, making it “remarkably undervalued” according to Farrell. This would cause this gradual rise in the coming months until reaching the aforementioned figure in the second half of the year. One of the reasons for this bullish projection is due to the fact that Ethereum transitions to proof-of-stake in 2022, which, if it happens, will likely result in capital inflows regardless of how Bitcoin performs.
Other financial analysts, such as those at Bloomberg, recently published sizable, if not as optimistic, estimates, placing the next big ceiling for the reigning cryptocurrency in the middle of those at FSInsight: “Bitcoin’s next key threshold is $100,000, as the electronic currency is rather forming a bottom than a top» .
Maximum and current values of Bitcoin and Ethereum
Looking back, these forecasts would surpass any all-time highs that Bitcoin and Ethereum have had in the past. As for the first, it reached a value of more than 60,000 dollars (52,500 euros) in October last year, surpassing the previous one of about 58,000 dollars (50,750 euros) in March of the same 2021. It is precisely this milestone that analysts believe which will become the new minimum for the coming months, which would raise the figure of the maximum ceiling above six figures.
As for Ethereum, at the beginning of November 2021 its Ether token was above 4,600 dollars (4,000 euros), being its main highlight to date.
cryptocurrencies
As a reference, the values of both cryptocurrencies at the date of publication of this news are established at 44,000 dollars (38,500 euros) for Bitcoin, recovering from the recent falls in January that have taken the queen of cryptocurrencies to almost 30,000 dollars (26,250 euros). Ethereum right now stands at a value of 3,000 dollars (2,625 euros), according to data from Investing.com.