Bitcoin Price Prediction 2022: Panel Revises Its Predictions

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A panel of crypto market experts and academics have revised their bitcoin price predictions in the wake of the recent price crash, while still predicting all-time highs for the cryptocurrency in 2022.

A week-long downtrend has seen bitcoin drop to its lowest price in six months, it is currently trading around 50% off the all-time high it saw in November. After hitting $33,000 earlier this week, BTC has rallied slightly and is now worth around $37,000.

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When asked if the drop meant it was a good time to buy, sell or hold the cryptocurrency, more than half of analysts surveyed by price comparison site Finder.com said they thought it was a good buying opportunity.

In contrast, only 10% said they thought investors should sell, while 29% said people should neither buy nor sell.

The average price peak predicted in 2022 by the 33 fintechs is $93,717 – more than $20,000 higher than the record high of $68,000 – before falling back to $76,360 by the end of the year. ‘year.

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. Although high, both of these predictions are considerably lower than the average predictions made in July 202, when a similar panel of experts predicted a price of $265,000 and $706,321 respectively.

“Cryptocurrencies are proving to be a core competitor to the world’s traditional financial infrastructure, and many projects are now well beyond the theoretical realm of potential value,” said Finder co-founder Fred Schebesta.

Dr Iwa Salami, Associate Professor of Law at the University of East London, added: “The increased interest from retail and institutional investors cannot be overlooked, and yes, although there are still huge regulatory gaps , it is important that the potential of this emerging industry to transform business and finance and to facilitate financial inclusion is not overlooked or undermined.

Other survey respondents warned that the recent bear market may not be over yet, with the threat of interest rate hikes and broader economic uncertainty.

“Bitcoin appears to be gearing up for a major drop,” said Lee Smales, associate professor at the University of Western Australia.

“A ‘double top’ appears to have formed and the price could easily give up all the gains of 2021. Ultimately, I wouldn’t be surprised if the price goes below $1,000 in the long run, especially that there are more useful/effective alternatives available.

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