Bitcoin topped $43,000 the day before as the US stock market recovered. Indicators of business activity Nasdaq and S&P 500 added by the end of the session about half a percent.
FSInsight strategist Sean Farrell believes that the correlation between BTC and US stock indices, which increased in the fourth quarter of last year, will continue until at least mid-2022.
The January fall of the cryptocurrency was the result of the sale of shares of technology companies. The readiness of the Fed to raise the discount rate already in March fueled the interest of traders in the dollar.
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Now the capital has again begun testing risky assets. Farrell predicts that BTC has a good chance of reaching $200,000. Moreover, this milestone can be reached as early as the second half of 2022.
A study by FSInsight analysts, which Farrell also contributed to, points to the growing role of the NFT and DeFi markets.
Ethereum will retain its leading position among the platforms for launching decentralized services. The underlying asset of the network, the cryptocurrency ETH, will rise in price to $12,000 by the end of this year, FSInsight predicts.