Bitcoin (BTC) could target a massive $333,000 by May 2022 if the U.S. Federal Reserve provides a “perfect storm” of low rates, a new prediction argues.
Updating an uncannily accurate price forecast on Dec. 27, filbfilb, co-founder of trading platform Decentrader, drew dizzying conclusions about BTC price action next year.
Analyst: “You don’t have enough crypto” for 2022 bull run
After acting almost to the letter throughout 2021, BTC/USD stands to make huge gains in the coming six months if conditions remain the same.
The Fed is poised to make two interest rate hikes next year, and these are likely priced in, pundits say — but a surprise change of tact could have far-reaching consequences.
For Filbfilb, analyzing Fibonacci sequences alongside historical price action in previous halving cycles, Bitcoin could surge past $300,000 as a result of Fed officials toning down rate hikes.
“To get there parabolically, we would probably need a perfect storm of the Fed being unable to raise rates (which are probably priced in) and heightened inflation, leading to a flight to safety in BTC,” he told Cointelegraph.