Research estimates show that over 100 million people globally use Bitcoin exchanges. Bitcoin is undoubtedly the most trusted digital currency and its growth in popularity doesn’t look like slowing down any time soon. If you are a Bitcoin enthusiast, the chances are that you regularly keep a tab on its price movements. You also probably think about whether its price will rise or fall in the next few months.
The price of Bitcoin has been unpredictable ever since its inception in 2009. Your investments in this cryptocurrency have probably made some money and also lost some. This post explores Bitcoin price predictions. If you read it carefully, you will know what to expect in the future.
So, Which way is the Price of Bitcoin Headed?
Bitcoin has had a slow start this year, but the experts say it could hit $100,000. The question is not whether this is possible. Instead, it is “When will this happen?”. President Biden recently asked federal agencies to develop policies to regulate digital assets. The move seems like an acknowledgment that Bitcoin is the future. It also gives Bitcoin more stability.
Due to current world affairs and particularly the war between Ukraine and Russia, the price of Bitcoin has been tremendously volatile. In December 2021, Bitcoin had maintained its price at $34,000. That changed in November when its price suddenly hit the $68,000 mark. In recent months it has been in decline. However, it is still worth more than a few years ago.
Experts seem to be divided about their predictions for Bitcoin. But the one thing that they agree on is that it will certainly go over $100,000 at some point. Deutsche Bank conducted research that showed most crypto traders believe that the price of Bitcoin will reach the $110,000 mark. A lot of investors are banking on this development. You can click to investigate the various ideas that try to explain Bitcoin price prediction.
Nonetheless, do not forget that the price of Bitcoin has always been hard to predict. But what kind of guesses are the experts making?
Bitcoin Price Prediction
Some skeptical crypto experts say that the price of bitcoin will drop to $10,000 in 2022. Others who are more optimistic concur that its price, having hit over $60,000, has the potential to get to $ 100,000. However, there is a caveat. They think that its rise to such a price point will be gradual. It will not be as quick as investors might hope.
What is the Bottomline?
The bottom line is that Bitcoin is likely to do well in 2022. If you are interested in putting your money into it, you should take these predictions with a pinch of salt. This is because there are other developments in the digital currency landscape. Altcoins are upcoming, and massive brands like Nike are interested in monetizing some of their products in the digital currency space. Consequently, Bitcoin could soon have a worthy competitor.
On the flipside, cryptocurrencies could get into mainstream trading. If this is a possibility, Bitcoin will be the leading candidate to be regulated and this could change its prospects for good.