The post Bitcoin Price Prediction: Will BTC Price Claim $80k In 2022? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Bitcoin has been witnessing a growing correlation with the evolution of the internet since the 20th century. The market leader has also been following the footsteps of the equity markets and that of gold. In a recent feat, “the 90-day correlation between BTC and S&P 500 hit a 17-month high”. The growing correlation has been welcoming a host of new investors and adoptions.
Whilst the correlation does hint at the digital asset’s escalating sustainability. However, investors and traders hold scepticism around the plausible future prospects of Bitcoin. The scepticism in the business has been evident since the start of 2022. As the market has been ranging in a consolidation.
Successively, occurrences such as soaring inflation numbers, FED’s interest rate hikes, Russian Invasion, and Europe’s vote on PoW chains. Have collectively collared the price projection of BTC. Fasten your seatbelts until we decode the plausible price projections for 2022 and beyond.
|Market cap||$ 840,529,302,020.0000|
|Circulating Supply||$ 0.0000|
|Trading Volume||$ 0.0000|
|All time high||$ 69,045.0000 November 10, 2021|
|All time low||$ 67.8100 July 6, 2013|
What is Bitcoin ?
Bitcoin is a digital currency that aims to emerge as an alternative to FIAT across nations. And empower individuals with its decentralized nature and peer-to-peer technology for instant payments. Unlike the traditional financial system, Bitcoin is not controlled by any government or organization, or by individuals. The price of Bitcoin solely depends on its demand and supply.
Since its inception in the year 2008 by an anonymous creator or creators known to the world as Satoshi Nakamoto. Bitcoin has taken the digital age by a storm, it also enjoys the title of being the oldest and largest cryptocurrency. Bitcoin’s working relies on a completely decentralized system, making use of its open-source protocol. Which pushes it head-on against the flaws of FIAT.
Bitcoin’s whitepaper was first published on the 31st of October 2021 by Satoshi Nakamoto. The whitepaper elaborated on the implementation of digital currency through P2P. The maker had also made proposals to utilize a decentralized ledger of transactions lined up in batches.
It was after a halt of two months, on the 3rd of January 2009, when Satoshi Nakamoto initiated mining for the first time on the Bitcoin network. Over the years, developers and institutions in association with Satoshi Nakamoto have made contributions to enhance the crypto software. By correcting vulnerabilities and introducing new features.
Bitcoin’s source code repository on GitHub lists over 750+ contributors. Which includes Wladimir J. van der Laan, Marco Falke, Pieter Wuille, Gavin Andresen, Jonas Schnelli, amongst others. Conversely, Bitcoin’s lightning network acts as a network’s second layer added to Bitcoin’s network layer allowing transactions between two parties of the blockchain.
Successively, this network is regarded as a revolutionary concept in the Crypto space. It is basically designed to allow quick transactions and reduce the associated costs of BTC’s blockchain. The lightning network was developed by Thaddeus Dryja and Joseph Poon. On the other hand, the scalability upgrade “taproot” has been live on the network.
BTC Price Prediction 2022
The year 2022 initiated with continuity in the downward trend from the bygone year. BTC price on the first day of the year was recorded at $47,961.05. Which also remains the peak until press time, as the prolonging consolidation phase has restricted the span of BTC price. The consolidation phase has been a result of torrential news and updates.
Bullish Case: If bulls manage to trek northwards with a similar momentum, we can expect Q2 starting with a price tag of $45,000. That said, a continuity in momentum could close Q2 trade in the range from $51,000 to $52,000. The projection along the course could find a slow down to make way for an alt season.
Bearish Case: The price could face rejection once it breaches the resistance following its breakout of the channel. Which could drag the price back to its base at levels around $40,000. Losing out on breath from the psychological barrier would result in the arrival of $37,500.
Successively, the rest of the year could turn choppy, with interim upswings and downswings. A bullish close to Q2 could result in BTC reaching its new justifiable ATH around $76,000 to $81,250. On the flip side, BTC’s price could eye on from $60,056 to $64,000.
Also read: Theta Price Prediction, Will THETA Hit $50 By 2021?
BTC Price Prediction 2023
If the star crypto carries forward a bullish legacy from the peaks of the current year. We can expect BTC price inching towards its first six-digit price tag. On a bullish note, if favourable conditions prevail BTC price could make its way to levels around $132,048.
Successively, we will be able to see notable changes in scalability, with developments in the taproot. Moreover, the supply crunch would grow more evident, with the approaching halving event. Which collectively justify the bullish targets. In contrast, if the price carries forward from $64,000, BTC could achieve its ATH of ~$71,820.
Bitcoin Price Prediction 2025
If Bitcoin manages to diversify and empower its liquidity over the next three years. It holds the possibility to attract more investors, which would result in global recognition. That said, the chances of investments fueled by FOMO would be on the higher side. Prevailing which the price could skyrocket to $2,25,000 by the end of 2025.
On the flip side, if the star crypto falls prey to the bears. Owing to criticism coming from the concerns of mining, energy consumption, regulation, amongst others. The possibility of BTC price ending the yearly trade at $1,25,000 cannot be ruled out. Howbeit, if investor sentiments resist deterring, the price could achieve the target of $1,63,000.
Also read: WINkLink Price Prediction, All About Prospective WIN prices for 2021 and beyond
Bitcoin Market Prediction
According to WalletInvestor’s algorithm-based forecast, the largest crypto asset could hit a maximum of $92,452. And the downside could flip the price to $78,937. The average buying and selling pressures could propel the price to trade at $85,652.
Successively, the firm agrees with the broader market, that Bitcoin can be a profitable investment for the long term. The firm cites that BTC would rise from a minimum of $164,209 and could pursue the rally to claim $201k-250k by 2025.
According to DigitalCoinPrice, BTC’s price will meet an uptrend in due course of time. Further citing that BTC could close 2025 trade at an average price of $79,852.19. The firm hints at the maximum price target of $87,503.66, and the minimum target at $73,933.47.
Trading Beasts predicts BTC price to start Q2 trade at an average price of $40,543.315. The firm expects the maximum price at $50,679.143 and the minimum price at $34,461.817. Trading Beasts forecasts 2025 to close at an average of $66,095.71
Gov. Capital expects Bitcoin price to enter Q2 trade at a regular price of $43,721.60. While the firm expects the lowest price to be at $37,163.36, the firm pins higher levels at $50,279.84. Gov. Capital predicts 2022 to an average of $55,091.96. And 2025 to end at a regular price of $176,019. While the lowest price is forecasted at $149.616.15, the maximum is at $202,421.85.
Our BTC Price Prediction
Bitcoin price has commenced the current year in a choppy trend, which is gaining momentum at a gradual pace. With continuity in bullish sentiments, BTC’s price could end the Q2 trade at levels well above $50,000. The growing correlation with financial markets and aggravating supply crunch will help BTC to claim $80,000 by year-end.
In contrast, if concerns around PoW chains and energy consumption worsen. We can expect the Bitcoin price to settle at levels around $60,000 to $62,000. The implications of energy consumption and polluting emissions could bring in regulatory tensity. The repercussions of which could lash the price to said levels.
|Year.||Potential High.||Potential Low.|
|Next 5 Years||$250k||$163,048|
Also read: SafeMoon Price Prediction, How High Will The Price Hit by 2021?
Historic Price Sentiments
As previously said, the proposal of introducing Bitcoin was implemented in 2008 by a pseudonymous person/group of persons called Satoshi Nakamoto. Bitcoin was launched on the 3rd of January 2009, when a block named genesis got mined. Later the transaction took place after a week.
In 2010 BTC was officially launched on the exchange Bitcoinmarket.com at a price of $0.003. The price of the coin rose to $0.08 as the cryptocurrency was mentioned in the popular news resource Slashdot. To increase the stability of Bitcoin, another exchange called Mt.Gox was launched further in July.
With certain variations, BTC managed to be in the range of $0.06 and $0.07 until October. Later, Bitcoin progressively hiked as it was trading at $0.35 on bitcoinmarket.com and $0.5 on Mt.Gox. and touched the $1 million mark by market capitalization.
In early 2011, Bitcoin was trading at around the $0.2 and $0.3 mark with a price deviation. Later the price was seen taking a hike dramatically to $1 by mid-February. As the coin grabbed the attention of the marketers with mentions in Hacker News and Twitter. The launch of the Darknet site Silkroad where Bitcoin was considered as the main payment system.
The price drastically surged to $32 by early June and further fell to $10. Surprisingly, BTC again gained its resistance level later. Shockingly, the prices of BTC crashed as Mt.Gox was hacked and a lack of files were stolen by the hackers. With certain variations, the price sank to $6 in the first week of August. The coin quickly recovered to reach $12 and further sank to $2.5 by the end of November.
With certain variations, BTC managed to trade around $5.27 and $12.57 throughout the year 2012.
The star coin was trading around $20 during February, the price rose exponentially to $220 in April. The financial crisis in Cyprus collapsed in the same month, which led the price to $76. However, huge demand helped the price recover the $160 tag. Later, in May, the coin fell to $101.97.
The price continued to remain stable with some variations for several months. Interestingly, the coin hit $1,124.71 by the end of November as the market rushed to invest in BTC. By the end of December 2013, BTC was trading at $755.16.
BTC entered 2014 with a price of around $818.76 but did encounter fluctuations further on. Bitcoin was seen trading between $321.05 and $839.01 throughout 2014.
BTC was trading at $306.73 during the start of January. BTC has experienced various fluctuations in the year 2015 as many exchanges suffered major hacks and came under stronger regulations. The coin hovered between $229.75 and $416.82 for the rest of the year.
Bitcoin commenced its trade for 2016 with a price tag of $433.67, the crypto asset did undergo swings in due course. BTC’s price hit $753.35 by mid-June as the community announced the news about its second halving event.
Consequently, the price was seen rising to $693.47, following a pullback in July as part of the halving. Post which, the digital coin underwent another round of fluctuations. The price of Bitcoin managed to end the yearly trade on a bullish note at $951.01.
BTC continued to be in a bullish run during the start of January by trading at $998.34. The price consistently grew as it turned out to be the most needed currency around the world. Bitcoin hovered between $973.07 and $1,267.76 in the month of March and started to rise further. The price soared dramatically to $2,164.46 by the end of May and to $2,968.00 by Mid June.
The release of hard fork Bitcoin Cash (BCH) in early August by the community. Made way to a progressive price surge to $3,223.95. Countering certain price shifts, the digital coin continued to remain in a bullish run. BTC’s price recorded its ATH of $18,474.11 on the 18th of December.
Which was following the announcements made by major U.S exchanges regarding the launch of BTC futures. The price was seen further declining to $14,839.59 at the end of December 2017.
Bitcoin was seen commencing 2018 on a bearish note, with a price tag of $13,877.46. The proposal of Bitcoin’s ban by Korean authorities, led to a massive price crash to $8,270.10 by mid-February. However, fluctuations in prices did help BTC stay afloat between $4,014.86 and $11,454.06 until the end of November. That said, the yearly trade was closed at $3,851.18.
The eternal like control of bears led Bitcoin to commence January at $3,692.53. The steady recovery helped Bitcoin stabilize its projection until the end of the first quarter. Bitcoin had made its way to the second quarter with a price tag of $5,300.
The second quarter was fruitful for BTC, which ended the quarterly trade at $10,692.94. Further, the price touched the $11,300 mark by August and failed to remain stable thereafter. That led to a price plunge to $7,379.96 in December to end the year 2019.
Bitcoin had commenced its trade-in January with its price tag at around $7,526.04. The dramatic price action helped the price surge to $10,086.52 by mid of February. But the star crypto failed to remain stable for a long time, as the price took a plunge to $5,348.09 by mid-March.
The announcement of Bitcoin’s triple halving event was imperative in the price recovery. Which helped the price surge progressively to $8,900 by the end of May. By early June, Bitcoin’s price managed to breach the levels of $10,100.
It was by mid-August when the prices grew at an astounding rate to claim $12,283.75. Which was executed with intermediate variations. Interestingly, the price did not decline and rose further to hit $18,323.18 by the end of November. Surprisingly, the altcoin was trading at $21,352.13 by mid-December and managed to end the annual trade at $29,388.94.
Bitcoin had initiated 2021 on a positive note with its prices surpassing $30,000. In not over a month, the price of Bitcoin was seen claiming its $50,000 milestone. The price of the star crypto was seen trending within the same range until the end of February 2021. Pursuing its bullish trend, BTC price smashed a new All-Time High of $64,863 on the 14th of April, 2021.
However, the flight to the stratosphere was short-lived as the BTC price took a steep plunge from $64k to $29.8k. The rationales behind the price were FUDs coming in from Tesla halting BTC payments, owing to environmental concerns. And China’s prohibition on payment firms and financial institutions from enabling crypto services.
The 7th of September was a historic day for Bitcoin, as Bitcoin became the legal tender in El-Salvador. Wherefore, the BTC price climbed to $53k, but the flight was short-lived, as traders extracted profits. Which led to the price taking a plunge to $43,780 on the same day. However, despite the liquidations, the flagship asset gained 12.89% profits, taking the price to $66,930 on the 21st of October.
That said, following a brief period of consolidation at $62,000. The price of Bitcoin took another move to a New All-Time High of $69,045 on the 11th of November. However, the month of December was fairly bearish, with talks around FED’s interest rate hikes. However, the decision on the 15th of December had little to no impact on the price of Bitcoin.
Q: Will Bitcoin Price Achieve A New All-Time High In 2022?
A: Growing investor beliefs and volumes could call in the bulls for a run to a New All-Time High.
Q: Will Bitcoin follow the projections of gold to claim the title of digital gold?
A: Bitcoin’s price projections have been following up with that of gold from 1999-2011, BTC price could eventually claim the title.
Q: Is BTC Price Under $30,000 Inevitable?
A: The price of BTC is seen bouncing off the crucial support multiple times, which is well over $30,000. Moreover, big money holders could barge in at such levels.