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Bitcoin Price Prediction for 2022

Bitcoin Price Prediction

January 20, 2022 | 

4040 Views | 

Jesus Guzman | 

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Bitcoin is the leading cryptocurrency in the market in terms of capitalization, popularity, and user base. With the help of Bitcoin prediction charts, many investors take advantage of its price fluctuation to profit.

New and professional investors must invest in this cryptocurrency every year as it has shown great potential in the market.

Leech says that any viral social media trend about Bitcoin made by investors like Elon Musk or Wall Street Bets causes the cryptocurrency to increase by 10%. These are a few things many other investors watch out for to know if Bitcoin will drop or increase in value.

While such tweets remain important to investors, Bitcoin Price predictions also source some of the most crucial information from analysts and insiders to help investors know the way forward. This post should help you know the future of Bitcoin and if it is worth investing in this cryptocurrency this year.

A Brief History of the Bitcoin Cryptocurrency

The Bitcoin cryptocurrency was founded in 2008 by an anonymous individual or a group known as the Satoshi Nakamoto. Bitcoin was officially launched on January 3rd, 2009, and implemented as open-source software. The maximum supply of Bitcoin is 21 million, which is all that will ever be.

When Bitcoin was released, there were rules for selling, buying, and adding the coin to the market. Since Bitcoin is a scarce resource and has a fixed ceiling point, no one in the Satoshi group nor the government can alter the cryptocurrency, especially now that it has been released.

Over the years, Bitcoin has also proven to be easily storable, and it can be moved with little to no cost, unlike resources such as gold. The only downside to this coin is that it can be stolen. According to CNBC, crypto-related crimes rose to 79% from 2020. But with good security, holding Bitcoin is not something risky.

An Overview of Bitcoin’s Price History

Bitcoin Price Between 2009 to 2019

When Bitcoin was introduced in the market, it gained massive traction from the mainstream and attracted many online traders’ attention. In 2009, its price started at zero dollars, and after a few months, its price rose to $0.09. That was on July 17th, 2010.

By February 2011, Bitcoin price had reached $1, and for the first time, BTC gained equality with the U.S dollar. Following the years ahead, Bitcoin price rose but experienced a lot of fluctuations between the years 2012 and 2019.

Bitcoin Recent Market Price

When Covid-19 was announced in 2020, Bitcoin started trading at $6,965.72, and by December that year, its price increased to $29,000. It only took a few weeks for the coin to continue witnessing more strong gains as it surpassed its 2020 price record by hitting $40,000 by 2021 January 7th.

Still, in 2021, the cryptocurrency achieved its all-time price of $69,000 by November. Unfortunately, its price dropped by 30%, and the Bitcoin price prediction today sits at $41,330. This price brings us to Bitcoin price prediction for 2022.

Bitcoin Price Prediction for 2022

Analysts’ Bitcoin Price Predictions

Now that the current Bitcoin price is $41,330, it is quite difficult to know which direction the crypto will take, especially since it is notorious for its fluctuations. Several analysts have come up with several Bitcoin price projections for 2022.

While some believe that the coin will rise to about $100,000, some advise investors to get out of Bitcoin as it might hit rock bottom of $10,000 from its all-time highest price. Alexander, a finance professor at Sussex University, believes that history repeats itself. Bitcoin tanked down to $3,000 in 2018 after it had climbed to about $20,000.

Even though Bitcoin has had its historical bubbles and bust, supporters say that it will be different this time. Katie Stockton, the founder of Fairlead strategies LLS, also supported this narrative in an email by saying that Bitcoin’s long-term uptrend prices will maintain itself, and new price breakouts of up to $90,000 might be projected.

Bitcoin Price Changes Forecast

Unlike Ethereum price prediction, which is expected to rise in the upcoming days, Bitcoin price prediction this week shows that it might slightly go down. According to The Bitcoin price prediction Walletinvestor forecast, the BTC price will be $41,330 on January 20th, 2022, and its price will sink to about $37,758 by February 2nd, 2022.

However, Bitcoin’s long-term price on Walletinvestor shows that the price will increase. That is from this year to next year, 2023. It also shows that by the end of this year, Bitcoin’s price will reach $80,000. But it is still not clear what will happen to Bitcoin price in the coming few years considering its high volatility in the market.

Future Bitcoin Prediction: 2022 to 2030

As much as it is not clear what will happen to Bitcoin, several financial analysts have come up with many explanations about Bitcoin prediction. For example, Jeremy Liew, a partner at Lightspeed Venture, says that Bitcoin price might hit $500,000 by 2030. On the other hand, Andy Edstrom, a wealth manager at California-based investment, says that Bitcoin will reach a market cap of $8 trillion.

Other sources like Prime XBT show that Bitcoin will increase in value. Its Bitcoin price prediction 2023 may reach $100,000, and its lowest price in the same year is expected to be $63,000. Bitcoin prediction 2025 is also projected to be at approximately $275,000 to $500,000.

Libertex.com is also another source that shows a very positive trend in Bitcoin prediction. It suggests that by 2030 the price of this cryptocurrency will be at an average price of $1,687,109.22.

What Affects Bitcoin Prices

If you are an investor, it is crucial to know what usually affects the value of Bitcoin. This will not only help you understand Bitcoin prediction for the coming years. It will also help you invest wisely depending on the current market events.

Bitcoin analysts must follow news cycles to make reasonable cryptocurrency price predictions. Here are a few factors that mainly influence the price of Bitcoin;

  • Scarcity
  • Regulation
  • Mainstream Adoption
  • Mining cycles

Should I Invest In Bitcoin This Year

Bitcoin prediction for 2022 is not very clear, but at least there are projections from many different sources that could help determine whether it’s worth investing in Bitcoin or not. While some Bitcoin experts say the price of Bitcoin might drop this year, many others believe that the cryptocurrency will continue to rise.

As much as that is the case, it is wise to look at several Bitcoin charts, analysts’ or experts’ predictions, and attend the Bitcoin 2022 conference to understand how Bitcoin will perform this year and the upcoming years.

Investing in Bitcoin may not be such a bad idea, but first, doing your research and understanding its historical price movements might help greatly ensure you invest your money in the right cryptocurrencies in 2022.

What’s next for Bitcoin Users?

Unlike Ethereum predictions 2022, which seems to be a bit clear, Bitcoin price prediction for this year shows that prices might either rise or fail. Many investors are on the lookout to determine whether they should buy or sell the cryptocurrency.

But since the Bitcoin cryptocurrency is in demand and the supply is limited, investors hope that the coin will keep rising in the future.

The only sure way to find out the coin’s value is to regularly follow Bitcoin price predictions for upcoming years. As an investor, you should also check out Interactivecrypto to know other cryptos you can invest in.

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