London, UK — Bitcoins price fluctuation along with other cryptocurrencies has managed to keep investors on the edge of their seats. These surprises in the fall and rise of Bitcoin are nothing short of a roller coaster ride. First, there was the bull run of 2017 then the massive crypto crash of 2020 followed by the latest price drawdown. It will not be an overstatement to say that the cryptocurrency market has largely been unpredictable and driven by notorious volatility. Yet, experts are generally optimistic regarding the future of crypto, particularly Bitcoin.
Bitcoin was launched back in 2009 when the financial ecosystem was not ready for such a dynamic and substantial change that the cryptocurrencies will bring along with the global economy. According to an expert broker, Vincent Demario at Gatebits – “After 13 years of journey, the cryptocurrency market has transformed the financial topography on a global level. The acceptance of cryptocurrency has proved that the inception of a decentralized model could be the future of investment and trading. This very point shows that no matter how low crypto prices fall they will rise again because cryptocurrency is the future.”
When Bitcoin came it paved the way for digital assets and raised abundant interest among financial investors globally. Unfortunately, the rise in the volatility of cryptocurrency and the speculative nature of this digital asset has made many investors reluctant about the asset class and price prediction.
Yet, cryptocurrency has not lost its hype, and enthusiasts continue to invest in Bitcoin. Analysts are taking more and more interest in predicting crypto price predictions. Investors still rely on the long-term effects of Bitcoin investments. Moreover, the price prediction models in the crypto space have become more streamlined and transparent.
Based on these prediction models, experts have indicated an optimistic future for Bitcoin.
Fall in Bitcoin’s Price
Bitcoin started the year trading in the $46,000 zone. By the start of June 2022, Bitcoin was trading at $31,657, noting 3.90% daily and 9.27% weekly gains. However, due to sell-offs by the larger financial market in January, the price had a major drawdown to $33,184. The price started making an upward climb during the first half of February, unfortunately, the coin rapidly lost again by the end of the month because of the Russian invasion of Ukraine leading to a marketwide sell-off. During this period Bitcoin price dropped from above $40,000 to below $34,400. At that time, Bitcoin was down by over 30% year-to-date.
A brighter future ahead
Gatebits asked Vincent Demario for some insight on the situation. According to him,
“Various analytics are giving a diverse range of results for Bitcoin price predictions. While they all have put a big disclaimer that nothing is certain in the crypto-verse. There is yet another similarity, all the predictions have a general sense of optimism about them. You will notice that most analytic websites are predicting that Bitcoin will end the year at $49,065. You can notice a year-to-year change of +5%.”
Coin forecast, another analytic website, predicted that in the first half of 2023, Bitcoin will rise to a solid $53,164 in value and keep rising till the end of the year to $65,126. For 2024 and 2025 they predicted that Bitcoin will reach $100,457 and $126,127, respectively.
Another coin market has predicted that the price of Bitcoin will go up to $249,578 by 2025. Vincent Demario commented on this report and said, “It is not like this is the end for Bitcoin. Most experts, including me, believe Bitcoin will make a huge comeback. However, given the current circumstance, the growth might be a little slower than it was expected earlier in 2021.”
The recent drop in value and then the rise in Bitcoin over the weekend has obliged many analysts to redo their year-end predictions. According to Finder’s panel of fintech specialists, Bitcoin value will jump up to $65,185 by the end of 2022. As for 2025, the Bitcoin value is predicted to be at $179,280.
Vincent Demario says, “The given predictions are a little lower than the ones predicted in the first quarter of 2022. But investors need to remain patient. The next two years will be the make it or break it for Bitcoin. We are expecting a turn of events that will again escalate the value of Bitcoin.”
Short-Term Predictions for Bitcoin
Talking about the near future of Bitcoin, the CoinMarketCap crypto community believes that Bitcoin will soar to 30.06% from the current price to trade at $41,175 by 30th June,2022. Vincent says, “We have seen some optimistic predictions, however the number will surely increase as we move to the third quarter of the year. It is simply a matter of time. After all, Crypto trading is all about patience and making smart moves.”
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your own research before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise.