Bitcoin Price Predictions: Where Will BTC Go After The Crypto Crash?

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It has been a brutal weekend for Bitcoin (CCC: BTC-USD) with its price plunging as low as $ 42,000. This trend has continued until today with BTC still in the red.

Source: Momentum Photography / Shutterstock.com

The price of Bitcoin fluctuated wildly from Friday night to this morning amid continued volatility that has caused the entire cryptocurrency market to skyrocket. On Saturday, the price of the largest digital coin fell to a low below $ 43,000, from the $ 57,000 it traded on Friday, December 3.

Bitcoin’s sharp drop comes as the sell-off continues in the wider market. The last week of trading saw major indexes suffer amid concerns about the omicron variant. The weekend massive selloff also continues a downtrend for Bitcoin. The main crypto entered bear market territory on November 26 after falling to a low of around $ 54,000.

Other cryptocurrencies, including Ethereum (CCC: ETH-USD), also fell more than 15% over the weekend. ETH has since rebounded slightly, currently trading just above $ 4,000.

The extreme volatility has led a number of analysts and market watchers to quickly revise or reaffirm their Bitcoin price predictions. Here are some highlights of the price predictions for the digital coin.

Bitcoin Price Predictions: Many analysts stand by their predictions that the price of Bitcoin will eventually reach $ 100,000, although some now say the benchmark will not be reached until 2025 or later. Many analysts had previously predicted that BTC would trade at $ 100,000 by the end of 2022. A market watcher, Cointelegraph contributor Michaël van de Poppe, reaffirmed his prediction that the price of Bitcoin would eventually reach 400,000. $, stating that “nothing has changed”. like the price of BTC whipsaws. Technical analyst Matthew Hyland continues to believe that Bitcoin could hit $ 250,000 as early as next month (January 2022), but he clarifies his price prediction by stating that it depends on BTC first reaching $ 100,000 and as investor euphoria sets in. Several analysts note in today’s market pre-comment that, right now, Bitcoin is struggling to break $ 60,000 and even struggling to find support at $ 50,000 amid continued market gyrations. Some say it will be impressive if BTC ends this year at $ 50,000 or above.

At the date of publication, Joël Baglole had (directly or indirectly) no position on the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.

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