BTC Price Predictions: Will Bitcoin (BTC) recover this year? That’s a hard yes, according to an expert panel who are forecasting the cryptocurrency to hit US$90,000 in 2022.
According to Finder.com’s latest Bitcoin Price Predictions Report, the panel predicted the peak in 2022 will hit $93,717.
The panel in question was made up of fintech, cryptocurrency and NFT specialists. They also think BTC will end the year down at $76,360.
David Klinger, founder of Coteries Corporation, gave a forecast in line with the panel average. He expects BTC to peak at $100,000 in 2022 before ending the year at $70,000. Says Klinger, “As Bitcoin becomes more accessible through more established financial institutions and products like ETFs, it will continue to rally in the short-to-medium term.”
Vanessa Harris, Chief Product Officer at Permission, said that Bitcoin is best positioned to be the store of value many investors will seek to weather higher inflation. Her prediction is hitting the high notes – hitting $220,000 this year.
Daniel Polotsky, the CoinFlip founder thinks BTC will peak at a much lower price of $60,000. But it will still prove to be a popular hedge against inflation. “The global economy is looking somewhat shaky, with inflation reaching 7% in the US. It is possible that the asset bubble the Fed created by keeping interest rates near 0% for over a decade may spill over into Bitcoin.”
BTC price predictions: Other stats
One in five panellists say increasing interest rates will drive BTC’s price down. However, 50% say it won’t. And, 31% say they’re unsure.
Gavin Smith, the Panxora Group CEO thinks interest rate hikes will negatively impact BTC’s price. But any drop will be temporary. “First half of 2022 will be dominated by concerns over higher interest rates which will impact all risk assets including Bitcoin, we wouldn’t be surprised to see Bitcoin decline a further 30% from current levels. As inflation continues to rise we expect Bitcoin to decouple from other risk assets in the second half of 2022 leading to a rally to new highs towards the end of the year.”
BTC Price Predictions: 2025
The panel, on average, expects BTC to jump to $192,800 by the end of 2025. Then, it will skyrocket to over $406,400 by 2030.
Bilal Hammoud, the NDAX CEO, expects a short-term drop. This is due to interest rate hikes. But he thinks BTC will rise to $250,000 by the end of 2025. And, to $500,000 by the end of 2030. “Inflation is out of control, Bitcoin might temporarily drop as interest rates go up. In my own opinion the drop will be temporary.”
John Hawkins, a Senior lecturer at the University of Canberra thinks BTC’s price will drop. This is following rate hikes. They will remain subdued for some time. “Bitcoin is a speculative bubble and higher interest rates leading to a revised attitude towards speculative investments generally may be what bursts it.”
The majority of panellists don’t think there is a bubble. Jonathan Zeppettini, the Decred International operations lead, says if there were a prolonged bear market, Bitcoin would be the coin to watch. “In any protracted bear market one would expect blue chips such as Bitcoin to perform the best, as money flows out from more speculative assets to what is widely regarded as a safe haven to wait out the storm.”
The overall sentiment according to 61% of panellists seems be that it’s the time to buy Bitcoin. 29% say HoDL. 10% say sell.
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