For the full copy of this report in PDF format, click this link.

Crypto investors received a late Christmas present with the price of Bitcoin reaching new all-time highs early this morning briefly touching $28,580. Bitcoin has risen by 75% since our last upward price target revision and now sits at ~$28,000 or 12% above our most recent $25,000 target. Despite the rise in prices and valuations, we believe the conditions remain in place for a continued rally in Bitcoin and crypto more broadly over the next 6-12 months. Institutional & corporate buying, regulatory de risking and retail stimulus demand are factors that have led to an increase in positive momentum, which we believe can continue. As such, we’re revising our valuation model estimates higher and raising our price forecast to $40k representing ~50% upside from current levels.

New Buyers, Regulatory De-Risking & Stimulus: Institutional investors and corporations are entering crypto and are acting as a new source of demand. We view recent FINCEN & SEC proposed regulation and enforcement actions as long term positive de-risking events that highlight the growing regulatory clarity and U.S. government stance on Bitcoin, albeit not all crypto assets, which should lower the risk premium and bolster capital f...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Want to receive Regular Market Updates to your Inbox?

I am your default error :)