Bitcoin Could Still See Massive Rally In 2022

Bitcoin could still see a massive rally in 2022. Check out the latest prediciton about the king coin.

At the moment of writing this article, BTC is trading in the red and the coin is priced at $29,597.

Macro analyst Lyn Alden says that Bitcoin (BTC) could rally higher over the coming months. But she also notes that this could happen if certain conditions are fulfilled.

When she was asked in a Coin Stories interview whether Bitcoin could revisit its all-time high this year, Alden said that the price of king crypto could surge if the Federal Reserve reverses its current hawkish monetary policy measures. These include rising interest rates and the unwinding of asset purchases.

“I mean if you had a total capitulation, like if you had a pivot in Fed policy and a re-liquefaction of markets, it’s a pretty high volatility asset [Bitcoin]. So you could have a pretty big swing up. You could retest some highs.”

Regarding the ways in which Bitcoin will likely perform in the short term, Alden said that BTC could still print new lows but highlights that the top crypto asset by market cap is now trading at price levels favorable for long-term holders.

“I don’t really have a high conviction if we’re going lower or not. It’s not like Bitcoin necessarily bottoms as soon as the economic indicators bottom. It’s not that correlated, right.”

She also said the following:

“So it could bottom ahead of time, it could not. I think we’re already in kind of a value range. But that doesn’t mean we can’t go lower.”

It’s been revealed that New York passes a Bitcoin mining ban. Accoridng to the latest reports, following an early morning vote in Albany on Friday, lawmakers in New York passed a bill to ban certain BTC mining operations that run on carbon-based power sources.