It’s always a good time to be alive when predicting the future of bitcoin. Panelists from various industries and fields have reviewed their predictions with us again, but still believe that this cryptocurrency will hit new highs by 2022. Cryptocurrencies are not for the faint of heart, but experts believe that all-time highs await us in 2022.
Bitcoin has seen a significant drop in value this week, with prices currently around 50% of their all-time high. However, it recovered slightly after hitting a low of $33K on Monday morning and is worth around $37K.
Related Post | Bitcoin recovers from the seven-month low of $33K
Analysts are divided on whether or when to buy, sell and hold cryptocurrencies. However, more than half believe this is a good time for buyers, and only 45% disagree.
It is interesting to see how different groups respond when presented with an investment opportunity. In this case, 29% of respondents said they should neither buy nor sell, while 10% think investors should sell.
Bitcoin Price Predictions
By the end of 2022, experts from the top 33 fintech predict that the price of bitcoin will reach an all-time high. The prediction is $93,717, more than $20,000 higher than its current all-time high in November.
Bitcoin price has managed to hold $37K. Source: Tradingview.com
The panel predicts that by the end of 2025, bitcoin will trade at $192,800 and rise to $406,400 by 2030. While these predictions may seem like lofty goals at first glance, they are significantly less than what experts predicted in July 2021 when their latest forecast said that the price of bitcoin could reach $265k and $706k, respectively.
Finder.com co-founder Fred Schebesta said;
“Cryptocurrencies are proving to be a staple competitor to the world’s traditional financial infrastructure, with many projects now well beyond the theoretical realm of potential value.”
Another statement from Dr. Iwa Salami, Associate Professor of Law at the University of East London, explains;
“The increased interest from retail and institutional investors cannot be overlooked, and yes, while large regulatory loopholes still exist, the potential of this emerging industry to transform business and finance and facilitate economic development should not be overlooked or undermined. financial inclusion”.
According to other respondents, the last bear market it may not be over yet, with looming economic uncertainty an additional threat to the industry.
Lee Smales, associate professor at the University of Western Australia, added;
“Bitcoin seems to be preparing for a big drop. We could be witnessing the end of one era and the beginning of another. A ‘double top’ appears to have formed, with prices giving up all of their gains from last year; however, I would not spend money on this until more useful/efficient alternatives are available because nothing lasts forever.”
Featured image from Pixabay, chart from TradingView.com
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