Recent market volatility has even the most ardent fans wondering what will happen to the flagship crypto in 2022. It’s vital to remember that cryptocurrency markets are notoriously hard to forecast. One reason for this is because most of what occurs are based on conjecture.
However, one thing that’s sure is Bitcoin is here to stay. So let’s take a look at what’s in store in the next year and even a decade down the lane.
BTC Price by January 2022
Advocates of Bitcoin, such as Michael Saylor, emphasized the coin’s long-term value and suggested consumers HODL it, but many others disagree. According to a recent CNBC poll, 44 percent of respondents estimate bitcoin will be worth less than $30,000 by the end of the year.
Looking at the recent volatility, many weak hands have given up, but some people still believe Bitcoin will never go downhill completely. Analyst Willy Woo recently suggested that the arrival of ‘Rick Astley’ holders could push the price of BTC higher. On April 13, after Bitcoin had soared beyond $63K, the same thing happened.
In addition, Bloomberg’s April Crypto Index research forecasted that Bitcoin’s price will reach $400,000 by 2022. However, given the market’s multiple bear cycles, the agency’s June 2021 forecast projected whether its price would move up or down. The research from June made more reasonable estimates, suggesting that BTC price may reach $100,000 by next year.
“Bitcoin is more likely to resume appreciating toward $100,000 resistance rather than sustaining below $20,000.”
Furthermore, believers of Bitcoin, such as Max Keiser, have maintained their bullish forecast of a $220,000 BTC price by 2022. Keiser compares this with buying Apple stock in the late 1990s when the price had plunged.
Also Read : Where is Bitcoin Price Heading Next? Will it Rise Above $40k This Week?
While Keiser may sound super positive about the situation, several trading websites forecast the BTC price to plummet. Bitcoin’s price is expected to reach $32,805.601 by the beginning of December 2021 and 33,095.754 by the beginning of January 2022, according to Trading Beasts, which is lower than the current price.
As a result, it’s worth noting that the recent bear market has created a dilemma in terms of BTC price projections. Also, it is obviously difficult to set a perfect price range for the flagship crypto in the market.
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Source: https://coinpedia.org/bitcoin/bitcoin-price-hit-by-january-2022/
