Veröffentlicht am

Brock Pierce says Bitcoin price could rally to $200K next year

The Bitcoin Foundation chairman suggests inflation and insatiable appetite by governments to print fiat money could help Bitcoin rally above the highly anticipated level of $100,000, gaining by 300% or more to breach the six-digit barrier in 2022.

Brock Pierce, billionaire entrepreneur and one of cryptocurrency’s pioneer adopters, is projecting a bullish outlook for Bitcoin next year.

The Block.One co-founder believes that despite Bitcoin’s current struggles, the next twelve months could be pivotal in seeing the benchmark cryptocurrency pack fresh upside momentum.

But he’s not just thinking of BTC hitting a new all-time high above $69,000. He thinks the market could witness a breakout beyond the $100k barrier, with mitigating external factors pushing the digital asset even higher along the six-digit rail.

The former US presidential candidate shared his prediction during an interview on Fox Business.

Inflation and financial uncertainty to add to volatility

Pierce believes that Bitcoin’s price could get some tailwinds from the never-ending urge to print more currencies. He looks at this factor as one of the primary drivers of Bitcoin price in the future, more than even growth within the broader crypto market.

The entrepreneur says Bitcoin’s volatility is another factor, noting that the cryptocurrency largely doesn’t act as a “hedge per se.” He notes that unlike gold or real estate, the digital asset is more risk-on, but does excite for the one reason that it does offer huge returns.

He explained that continued rising inflation and financial uncertainty could be just the driving factors that push Bitcoin prices higher.

“I would not be surprised if we saw a Bitcoin price next year over $100,000. It’s even conceivable that it can break $200,000 for a moment,” he noted.

In this regard, it’s probable Bitcoin could see a 300% or more rally before cooling off.

Pierce’s sentiment mirrors several others who see 2022 as a year in which cryptocurrencies could yet see more gains. His comments about the need for proper regulation in the crypto space is also a topic touched upon by various industry and market players, including FTX CEO Sam Bankman-Fried and Cardano founder Charles Hoskinson.

Bitcoin is trading just above $48,000 as of writing, up nearly 1.5% on the day but about 5% down over the past week. 

BTC/USD is also nearly 31% down from its peak of $69,044 reached in November. However, the digital asset has outperformed US equities with over 75% gains in 2021, compared to around 28% for the S&P 500 and 22% for Nasdaq.

The post Brock Pierce says Bitcoin price could rally to $200K next year appeared first on Coin Journal.

Veröffentlicht am

SushiSwap’s (SUSHI) 7-day bullish uptrend brings gains of over 35% – price analysis and prediction below

As 2021 comes to a close, SushiSwap (SUSHI) has been one of the top performers in the crypto market for the last week or so. The DeFi token is currently on a 7-day bullish run that has seen it gain nearly 35% in value over the same period. But can this momentum continue? Before we get to the price analysis, here are some highlights:

  • At the time of writing, SushiSwap (SUSHI) had crossed into double figures, trading at $10 and up 10% in 24 hours.

  • We expect the token to face major overhead resistance at around $10.88 over the coming days.

  • Despite the bull run, the Relative Strength Index at the time of writing suggests the token is overbought, creating significant downside risk if investors decide to cash in profits.

Data Source: Tradingview.com

SushiSwap (SUSHI) – Price analysis and prediction

It’s been a good week for SushiSwap (SUSHI), no doubt about that. The coin has crossed into double digits for the first time in a while. The next big challenge will be to overcome overhead resistance at $10.88. If indeed this happens, we could possibly see SUSHI test its next resistance of around$11.59 and consolidate around the price if a breakout doesn’t happen. 

But one key risk factor is the RSI reading. While most technical indicators look bullish, the RSI indicates SushiSwap (SUSHI) is overbought. If investors decide to lock in profits, then SushiSwap (SUSHI) may come under significant selling pressure, which could lead to a pullback towards $7.8 or thereabout.

Should you buy SushiSwap (SUSHI)

the answer is yes. For long-term investors, SUSHI is a decent DeFi token to have on your portfolio. But the short-term outlook suggests that we may see some volatility around SushiSwap (SUSHI) in the coming days. As such, for short-term bulls, this may not be the most ideal time to get in.

The post SushiSwap’s (SUSHI) 7-day bullish uptrend brings gains of over 35% – price analysis and prediction below appeared first on Coin Journal.