$333K for Bitcoin, Should Current Market Conditions Prevail | Coinspeaker

$333K for Bitcoin, Should Current Market Conditions Prevail

UTC by Oluwapelumi Adejumo · 3 min read
$333K for Bitcoin, Should Current Market Conditions Prevail
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BTC has the potential to rise past the $300K mark if the Fed reduces the rate at which they keep hiking prices.

Prediction reports suggest that a change in market conditions, like a shift towards low market rates, would give Bitcoin a chance to hit as high as the $333K mark by May 2022. This, however, depends on whether the US Federal Reserve will enable this “ideal climate”.

Expert analysts attest to Bitcoin conformity to their predictions across 2021 and extrapolate this track record to the coming year, 2022, where BTC is expected to make sizable gains over the next 6 months. But it all hinges upon the Fed.

According to analyst reports, the Federal Reserve is expected to execute a two-series hike in interest rates in 2022 from current prices. Nonetheless, a sudden change of approach could have significant repercussions. This follows the fact that BTC has perfectly conformed to expert predictions in the past, particularly during 2021.

Per Fibonacci sequences analysis by Filbfilb, BTC has the potential to rise past the $300K mark if the Fed reduces the rate at which they keep hiking prices. The Decentrader co-founder reached this conclusion after going through the sequences in comparison to past price actions. Confirming to his followers on Twitter, Filbfilb said that BTC price was exactly as predicted tagging a supporting chart traced back to December 2018 to show the accuracy of price actions since then.

Speaking to Cointelegraph, Filbfilb said that “We would probably need a perfect storm of the Fed being unable to raise rates (that are probably priced in) and enhanced inflation that would lead BTC to a flight to safety”. This goes a long way in proving that such a turn of events may yet be very possible and already the market is budging with an increasing number of indicators lining up to call for a change of price orders.

Citing December 27, which was the first time over a 6-week span, BTC/USD rates closed a 4-hour candle above the 200-day moving average. This was indeed very encouraging because the last time the market displayed such an outcome was during late September marking the beginning of a rally that led to the prevailing $69,000 ATH.

On to matters macro movements, the stocks also have a chance of winning big although on a short term lease. This comes in light of the US dollar dropping in value. In his own words, the author of the investing newsletter, George Gammon suggests that this provides the US Federal Reserve an excuse to increase rates past the QE zero. This follows a situation where the market would have deciphered and understood that the economy has been reduced and thereafter witnesses the effect of increased rates.

A prediction by the author of Rebel Capitalist Pro also argues that the Stock Market will rise significantly high over the next two months as inspired by theories of the pandemic ending. Should such a scenario ensue, how BTC is affected depends on its relationship with stocks and its ability to bounce back from such a dip.

Bitcoin News, Cryptocurrency News, News
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