Will Bitcoin Hit $100,000 This Year? What Analysts Say
NDTV
After a hawkish turn by the Federal Reserve took some steam out of cryptocurrencies at year-end while largely sparing other risk assets, central bank policy is taking a key role in the debate about the outlook for tokens in 2022.
New Delhi: After a hawkish turn by the Federal Reserve took some steam out of cryptocurrencies at year-end while largely sparing other risk assets, central bank policy is taking a key role in the debate about the outlook for tokens in 2022.
To what extent will Jerome Powell's Fed tighten policy to stem inflation? The answer to that question will help determine whether Bitcoin follows its 60% gain in 2021 with another banner year, some analysts say.
Another school of thought holds that as companies from Meta Platforms Inc. (formerly Facebook) to Apple Inc. push deeper into the metaverse and consumers keep piling into non-fungible tokens, that will push crypto higher regardless of the macroeconomic forces at play. Just witness the sale last year of an NFT artwork for $69.3 million at Christie's, or the loosely organized group of crypto investors that battled billionaire Ken Griffin at an auction for a copy of the U.S. Constitution.
Bitcoin traded at around $46,100 on Tuesday as of 9:52 a.m. in Hong Kong, up about 0.2% on the day. Here, four market-watchers discuss their outlook for the token and wider crypto universe in 2022:
