Bitcoin

Bitcoin hits New ATH! BTC Predicted to Surge 700% by 2022

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Bitcoin hit new highs Monday as investors flocked to the asset class due to rising interest in cryptocurrencies and concerns about inflation. 

Bitcoin’s price soared beyond $65k yesterday, settling slightly below the previous all-time high of October 20, 2021.

The principal cryptocurrency just took off, and as of writing, the BTC price has risen above $67.8K, according to the Bitstamp platform. BTC has now retraced back and I’d trading at $67,722 stil up by 3.3% in the last 24 hours.

This comes just days after the total cryptocurrency market cap surpassed $3 trillion for the first time, with Bitcoin accounting for 43.6 percent of that total.

Big targets for BTC ahead!

PlanB, a quantitative analyst, has updated his Bitcoin (BTC) price estimate for the first quarter of 2022, revealing when he believes the cryptocurrency would experience a parabolic spike, outperforming all other assets.

In an interview with Bitcoin bull Anthony Pompliano, the well-known crypto analyst claims that, based on his numerous models, Bitcoin might rise by as much as 700 percent by early next year. 

He believes the top is at least a couple of months away, perhaps six months. So that brings us to the end of Q1. 

I guess we will be above $100,000, above $135,000 at the end of the year, and then we’ll continue to grow maybe towards to stock-to-flow X (S2FX) model target [at] $288,000 or even above.

 I would not be surprised even to see in Q1 in Q2 next year prices of $300,000, $400,000 [or] $500,000.”

To arrive at a valuation for BTC, PlanB’s stock-to-flow cross-asset model (S2FX) examines Bitcoin’s phase transitions from proof of concept to financial asset.

In the long run, PlanB believes Bitcoin will see a parabolic increase between 2024 and 2032. 

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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