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Bitcoin has been around since 2009, and it's had a wild ride. Some think that its price will continue to rise, while others believe that its bubble is about to burst. In this article, we'll go over Bitcoin price prediction as stated by experts and give you our thoughts on the matter. However, this is only an estimate, meaning things could change drastically over the next few years. That being said, let's take a closer look at Bitcoin's future!
It's been a rocky start to the year for Bitcoin, but experts still say it will hit US$100,000 and that it's more a matter of when not if. Bitcoin's price continued to hover near US$30,000 over the weekend and Monday, as both traditional financial markets and cryptocurrencies struggle to regain upward momentum. Investors are wrestling with concerns over rising inflation, geopolitical tensions, and the possibility of tighter monetary policy by the U.S. Federal Reserve. The crypto market has increasingly tracked the stock market in recent months, which makes it even more intertwined with global economic factors. Expert says Bitcoin will rally from the latest cryptocurrency crash to hit a new record high of US$75,000 by the end of this year.
As it stands, Bitcoin is seen as a risk asset, alongside equities, yet this could all change as the largest crypto's characteristics haven't altered.
With red-hot inflation set to continue within the coming months, the BTC price will be bolstered as investors seek to safeguard their purchasing power by moving away from cash and into the store of value investments.
To expert mind, there are three principal reasons why Bitcoin is regarded as a credible hedge against inflation. First, its limited supply. With just 21 million available, higher demand will drive prices up. Second, accessibility – it has value as an asset and is accepted by the market. And third, durability. Bitcoin will keep drawing more demand in the future.
It is also seen crypto's other intrinsic values laid bare during the geopolitical issues over the last few weeks, such as being a viable decentralized, tamper-proof, unconfiscatable monetary system. As such, it is believed the case is now even stronger for Bitcoin and crypto. This is why it is expected Bitcoin to recover from the current crash to hit a new all-time high of US$75,000 by the end of 2022. Consequently, so-called 'whales' who hold 1,000 or more BTC will be rebuffing the concerns about the price dips and using them as buying opportunities.
As per research analysis, BTC could be along its way to hitting bottom and seeking assistance. Furthermore, BTC is close to the crucial Fibonacci level of 0.382, when Bitcoin dropped out throughout the 2014 and 2018 bearish cycles.
It was easy to predict a US$100,000 Bitcoin price late last year, coming off its latest all-time high in November. 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 US$10,000 in 2022, but a middle ground might be to say the cryptocurrency can still climb to US$100,000 like many experts predicted late last year just on a slower timeline.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
