Crypto has had a tumultuous year, to say the least. And even its bullish investors are admitting it.
Fundstrat is a prominent one. Earlier this year, the equity research firm set Bitcoin’s price target at $200,000 in the coming years. That was before the Crypto Winter of May when several cryptocurrencies and lenders failed, and that turned out to just be a prelude to last month’s shocking collapse of FTX, one of the largest crypto exchanges in the world, in a matter of just 48 hours. Now Bitcoin is trading at $16,000, down from a peak of $70,000.
