The values of risky assets—like Bitcoin—tend to decline in the wake of the Federal Reserve making policy changes to become more fiscally conservative . More broadly, as Bitcoin matures and becomes more widely adopted, the price of Bitcoin is increasingly correlated with the prices of traditional assets like stocks.
Read moreIs Bitcoin predicted to hit 100k?
Jurrien Timmer, Fidelity Investments director of global macro, said bitcoin could reach $100,000 as early as 2023 , on the CNBC show “Squawk on the Street” in October.
Read moreWill Bitcoin go back up 2022?
With Bitcoin’s big fall since then, the prediction game is even trickier. The most extreme crypto skeptics say Bitcoin will tank to as low as $10,000 in 2022, but a middle ground might be to say the cryptocurrency can still climb to $100,000 like many experts predicted late last year — just on a slower timeline.
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