Experts Change Their 2022 Bitcoin Price Prediction, And No It’s Not Near $100,000

[ad_1]

After seeing a 50% price drop from its peak last year, Bitcoin is on the road to recovery. It has gained almost 4% in the last 24 hours and is hovering around $37,800 at the time of writing. Although it has yet to break above the crucial $40,000 support level, the Bitcoin Fear & Greed Index appears to have stabilized at 24 since January 28.

The bitcoin roller coaster

Bitcoin Fear and Greed Index is 24 – FearCurrent price: $37,697 pic.twitter.com/QviO6gLvX2

— Bitcoin Fear and Greed Index (@BitcoinFear) January 29, 2022

That said, 40% of BTC investors are not making a profit on current price levels. So, will the $100,000 price prediction come true soon?

$100,000 not so soon

According to estimates by industry specialists, a recent Finder report notes that Bitcoin may be worth $76,360 by the end of 2022. It stated,

“Bitcoin (BTC) is expected to peak at $93,717 this year before dropping to $76,360 by the end of 2022, according to Finder’s panel of 33 fintech experts. That’s about 60% higher than the bitcoin price in early 2022.”

Therefore, $100,000 is also not on the Finder charts. That said, the token may break above the level in the next few years. The report further notes,

“By the end of 2025, the panel predicts that BTC will be worth $192,800 and soar to $406,400 by the end of 2030.”

Furthermore, the report pointed out that the conservative forecasts are based on potential increases in interest rates. This was also believed to be one of the contributing factors to Bitcoin’s price weakness earlier this year. We can recall market chaos and low investor confidence following the Federal Reserve tapering announcement during this period.

Panxora Group CEO Gavin Smith, who had an end-2022 forecast of $70,000, said

“[The] The first half of 2022 will be dominated by concerns about rising interest rates, which will impact all risky assets, including Bitcoin. We wouldn’t be surprised to see Bitcoin drop another 30% from current levels. »

That said, JP Morgan also lowered its long-term price target of $150,000 for Bitcoin. Now, given the volatility of the asset and the size of the gold market, the bank has placed the new price prediction at $38,000. JP Morgan said,

“Our previous projection that the bitcoin-to-gold volatility ratio will fall to around 2x later this year seems unrealistic. Our fair value for bitcoin based on a bitcoin-to-gold volatility ratio of around 4x would be 1/4 of $150,000, or $38,000.

Meanwhile, University of East London Associate Professor of Law Dr. Iwa Salami sees growing interest from retailers and institutions in the crypto space. Therefore, it makes crypto a crucial asset class that “cannot be overlooked.”

That being said, Bitcoin has indeed broken the five-week streak in terms of investment outflows. Coinshares’ weekly fund flow report noted that Bitcoin saw inflows totaling $14 million in the week ending January 21.

[ad_2]