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Experts predict a turbulent 2022 for Bitcoin, which might be able to achieve US$100,000 by the end of June.
Following El Salvador President Nayib Bukele’s famous tweet on Bitcoin price touching $100,000 in 2022, it is now time to weigh in other estimates and predict whether Bitcoin might actually continue its meteoric rise in the world of crypto.
While the vicious move by the Federal Reserve slowing down the massive increase in BTC prices, the central bank policy is getting deeply involved in the discussion of the future of digital assets in the year 2022. The influence of regulatory policies in the crypto space is yet to be determined, however, there are already several predictions in the market that might steer the rise or fall of Bitcoin.
Bitcoin, which was trading at the US $47,250 in New York, on Monday, witnessed a gradual drop by 2.57% to $46,575 per coin. Unlike the current stats, President Bukele of Salvador believes that the world is converging towards a crypto-run regime. His unabashed support for Bitcoin has led to many crypto-related schemes for the country of El Salvador. He is not only the immediate facilitator of Bitcoin City but has also steered the country into adopting Bitcoin as a legal tender.
Let us draw some insights from the biggest market-watchers of the game.
Bullish Bitcoin Price Signs for 2022
As the name suggests, this group of market watchers believes in a significant rise in the BTC price in the long term. Katie Stockton, founder, and managing partner of Fairlead Strategies LLC stated that the company has predicted a bullish Bitcoin long term, owing to the trend-following gauges. She goes on to report an impressive rise of BTC price to US$ 90,000.
On the other hand, Wallet Investor comes out as a less bullish predictor, with the platform estimating a price around $78,481.50.
According to Antoni Trenchev, managing partner of crypto lender Nexo, the central policy is most likely to be the major influencer in the crypto space. Having said that, Trenchev also predicts a turbulent 2022 for Bitcoin, which might be able to achieve US$100,000 by the end of June.
Talking about newer currencies like Solana and Avalanche, Trenchev predicts that the coins will not be able to reflect as meteoric a rise as they did in 2021. Additionally, they might even suffer significant scaling troubles just like older networks.
According to Jeffrey Halley, senior market analyst at Oanda Asia Pacific, the crypto world, like any other hyped technological discovery, will face massive hurdles in 2022. Since the Federal Reserve might levy interest-rate normalization, the essence of using crypto as an alternative currency will diminish.
Calling cryptocurrencies the largest case of financial-market group-think stupidity in history, Halley furnishes the audiences with strong views on the crypto space as a whole. Not only sticking to the crypto universe is a major hazard, but the upcoming regulations will also easily diminish the purpose of these digital tokens.
On the other hand, Coin Price Forecast also reveals more constraints when it comes to predicting the future of Bitcoin. It estimates a maximum of $50,000 six months into 2022 and will reach $69,729 in the end. However, Coin Price Forecast denies seeing Bitcoin reach the $100,000 mark by the end of 2024.