Bitcoin reached an all-time record of $68, 000 in late November 2021. The current bitcoin price of $20, 300 is a dramatic drop. It is quite common in the crypto markets for the bitcoin price to fall that low after hitting an all-time high, only to then Glücksspielnachrichten bounce back and surpass the previous high. This compares to the fall in December 2017 when bitcoin hit its all-time high of $19000 before crashing and crypto winter began. It is normal for crypto markets to have strong bull markets followed by a long bear market.
Current Bitcoin forecast
Bitcoin is currently the hottest topic on investors’ minds. The main cryptocurrency has suffered badly lately. After hitting an all-time high in November, it has lost up to 45 percent of its value.
Bitcoin stabilized earlier in the year. But after the Luna crash and Three Arrow Capitel’s (and BlockFi’s) liquidity squeezes, it tumbled below $22, 000 in places. The Fed’s interest rate policy is shaking the world market every day.
The Bitcoin price development is therefore difficult to predict. Experts and market participants could have very different forecasts.
In our Bitcoin forecast, we show you how Bitcoin will develop in the future.
Recent bitcoin price developments and market dynamics
The entire second quarter of 2022 was characterized by constant ups and downs on the crypto market. Some investors hoped that crypto markets would benefit from the Federal Reserve (FED) raising interest rates to their highest levels since 1990.
Unfortunately the opposite is the case. Virtually all global asset classes felt the impact of the rally and suffered price losses. This is largely due to the current Ukraine crisis.
The crypto scene has seen some negative headlines, in addition to political movements. 3AC had to be liquidated. BlockFi is ready to sell to FTX for a paltry $25 million. All of these factors had a negative impact on BTC prices.
Just looking at the BTC price, it looks like the third quarter of 2022 was a bit better than the previous one. Despite record inflation in the us of 9. 1% and the possibility of a rate hike by the FED, the crypto market has performed positively.
There is still debate over whether the US will approve the first Bitcoin exchange-traded fund. The ProShares Bitcoin Exchange-Traded Strategy Fund (ETF) has already been approved by the U. S. Securities and Exchange Commission.
After breaking the $40, 000 resistance in February, bitcoin price failed to sustain its positive trend. Bitcoin price had made another correction of several thousand dollars in April and started trading below the $40, 000 level.
Bitcoin (BTC) price can be influenced by both internal and external factors.
BTC value fluctuates based on market conditions including announcements of updates, halving or network security.
These external changes relate to regulations and prohibitions. China recently imposed strict restrictions on cryptocurrencies.
Public acceptance and sentiment, in turn, affect the relationship between supply and demand. Bitcoin’s value is greater when more people and businesses believe in it.
An important factor in our BTC prediction is the increasing competitive pressure on the oldest and most popular cryptocurrency. The investment rate in altcoins is also influenced by the fact that other cryptocurrencies such as Solana, Polkadot and Ethereum can open up new areas of application.
Bitcoin price prediction for the end of 2022
We will use data from various services to offer you a range of possible bitcoin prices up to 2022.
Walletinvestor: The average price of bitcoin is expected to be $27121 by the end of 2022.
CoinPriceForecast. Estimates are that Bitcoin price will end up hovering around $31, 782.
Gov. Capital estimates that the cost of electricity in 2022 will be $28, 114.
The consensus appears to be that bitcoin will hit $30, 000 before the end of this year. This is based on prediction algorithms ranging from $27000-32000.