What will be the price of BTC in December 2022? Ten leading analysts offer their insights
On November 10, 2021, bitcoin (BTC) reached a historic high of $ 68,789 per coin. Since then, we have witnessed a significant decline and the index of fear and greed has shown a high degree of doubt and uncertainty.
Since January 5, the price of bitcoin has been between $ 35,000 and $ 45,000, which is quite a modest range given the currency's volatility history. As a result of this behavior, voices are beginning to emerge that this may be the beginning of the long-awaited stabilization period for this flagship digital asset.
What will be the price of BTC at the end of 2022?
Given the current geopolitical climate, rising inflation, rising interest rates and rising energy prices, many industry experts are already speculating on where the price of bitcoin will be in December this year, as many people are looking for hedging against inflation and a secure asset. So what are the most interesting price predictions?
Bloomberg analysts - bull
A Bloomberg report (published February 6, 2022) suggests that bitcoin is ready for further price increases, although the year began with a massive correction.
“THE NEXT KEY BITCOIN BOUNDARY CAN BE $ 100,000. BITCOIN RATES THE FLOOR RANGE CEILING, WHICH MEANS THAT RANGE TRADERS WILL HAVE USED TO $ 30,000-60,000 MAY BE DISAPPEARED ”
According to the rules of the economy, a market with growing demand and dwindling supply will grow over time, suggesting that bitcoin may go up again when the bottom builds up around $ 30,000 and resistance to $ 60,000 weakens.
Invesco - bear
Investment giant Invesco, on the other hand, predicts that the bitcoin bubble will collapse in 2022 and trade below $ 30,000, citing reduced investor interest.
As we saw increased volatility in bitcoin last year, the investment giant linked the expected collapse of the bitcoin bubble to the collapse in 1929, while stating that the current mass marketing of this asset is losing momentum.
“THE TEMPLATE ALSO SUGGESTES THAT BUBBLES USUALLY CONTINUE DEFLATION FOR THE NEXT TWO YEARS. THAT'S WHY WE THINK THE BITCOIN IS NOT LIKE TO BE ATTRACTED TO BE LIKE THIS $ 30,000 (WITH A WARNING THAT WE HAVE WERE MADE EARLIER IN THAT, AND THAT APPROPRIATE THROUGH THE BUBLIN SERIES) "
OKCoin CEO Hong Fang - bull
Hong Fang, CEO of the cryptocurrency exchange OKCoin, said that the bitcoin price target of 100,000 USD is still in play, despite the fact that the price of cryptocurrency is very prone to market fluctuations
“I STILL BELIEVE THAT THE PRICE OF $ 100,000 IS REASONABLE, BUT TIMING IS JUST VERY HARD TO ESTIMATE BECAUSE WE HAVE BEEN RELATED TO THE MERCY AND NON-LOVE OF MARKET DYNAMICS… SO I THINK THAT IN A SHORT TIME THAT GETTING $ 100,000 OR EVEN ABOVE SHOULD NOT BE A PROBLEM ”
U.S. Global Investors, Frank Holmes - Bull
Frank Holmes, CEO of U.S. Investment Company Global Investors, predicted that although gold has the potential to rise in 2022, he personally assumes that bitcoin will outperform this precious metal, with millennial activity being the main driver of growth.
According to him, Bitcoin is in a strong position that allows it to reach the price of $ 100,000 and is convinced that bitcoin has already (at least in the case of millennials) beat gold as the preferred store of value.
Nexo founder Antoni Trenchev - bull
The founder of the cryptocurrency company Nexo, Antoni Trenchev, revealed that there are "two simple reasons" why he believes that the value of bitcoin will more than double by the current level by the middle of the year.
"BETWEEN BITCOIN, I AM RATIOUSLY OPTIMISTIC. I THINK THAT IT WILL REACH $ 100,000 THIS YEAR, PROBABLY BY HALF OF THE YEAR ”
He bases his bold statement mainly on the relentless interest of institutions that add bitcoin to their balance sheets, and also mentioned the broader topic of macroeconomic reality and cheap money.
Michaël van de Poppe, cryptocurrency analyst - bull
A prominent cryptocurrency analyst, Michaël van de Poppe, believes that bitcoin will repeat history in 2022 and will continue to grow in the second quarter of 2022. At the beginning of 2021, he predicted:
“THE BULG CYCLE'S FORECAST IS STILL VALID. WE EXPECT THAT THE YEAR WILL BE THE YEAR 2022/2023, NOT THIS YEAR. BITCOIN FOR $ 350,000-450,000. ”
Ian Balina, Token Metrics - Bull
According to Balina, the value of bitcoin could increase to $ 100,000-150,000 in the near future, but without a more precise specification of the time horizon. According to the analyst, the emergence of new cryptocurrencies and growing interest in metaversion will continue to increase the demand for cryptocurrencies, and bitcoin will bounce back from the bottom.
Matthew Hyland, Technical Analyst - Bull
Hyland believes that bitcoin could reach $ 100,000 in 2022, noting that the trend of bitcoin leaving major exchanges continues (probably to be safely stored in offline cryptocurrencies).
PlanB, technical analyst - bullish
In a recent tweet, PlanB said the world's digital currency flagship, bitcoin, is well on its way to reaching $ 100,000 by 2023.
Mike McGlone, Commodity Strategist - Bull
According to Mike McGlone, in 2022, inflation could be replaced by deflation, which would increase the price of bitcoin to around $ 100,000. He believes that 2022 will be profitable for both bitcoin and gold and that the main cryptocurrency will reach $ 100,000.
Conclusion
In fact, for me, a very positive review, where nine out of ten analysts expect a price of $ 100,000 or higher. Currently, the price of BTC is around $ 41,827, and as we know from the past, growing by tens of percent in a few days is nothing out of the ordinary.
Author: STA