After rapid growth in the fall of 2021, the cryptocurrency market entered a period of correction. The first half of 2022 turned out to be too rich in all sorts of upheavals. Socio-political and humanitarian problems provoked a massive increase in inflation almost all over the world.
Experts believe that the volatility of the crypto market will persist and possibly even increase in the coming months. Since the recent LUNA crash, there have been numerous rumors about a possible ban on Bitcoin in countries where it has already been recognized in one form or another. In a falling market, many investors naturally preferred not to convert BTC to XRP, but went into more stable conservative assets.
Bitcoin was launched in early 2009. The creator of the virtual currency, known under the pseudonym Satoshi Nakamoto, aimed to overcome the shortcomings of the classical financial system, particularly the presence of central regulatory authorities and complex intermediary infrastructure. Bitcoin is now predominantly used as a store of value. BTC’s use as a payment means greatly hampered by its high price and volatility.
Bitcoin Price Review
In 2021, Bitcoin broke price records twice and hit an all-time high just above $69,000. According to very optimistic forecasts, in the long term, the price of BTC can overcome the seven-digit milestone, but this is unlikely to happen quickly. In 2021, the influx of investments became a record in the entire history of the crypto market. Cryptocurrencies have become more widely used to pay for services and goods.
Central banks and governments of many countries are trying to develop rules for investing in digital assets. China, South Korea, and El Salvador played a significant role in the market’s growth. However, in China, progressive decisions about cryptocurrencies were considered premature. The news about the ban on BTC in the Middle Kingdom provoked another price drop from 53 to 42 thousand dollars.
The fall continued throughout the spring and the first half of the summer. The opposite trend is observed in the current year: cryptocurrency No. 1 consistently updates multi-month local minima. At the time of writing, BTC is trading in another tight range between $19,000 and $21,000 per coin.
Many investors believe that in the short term, BTC would rather crash to $10,000 than bounce back to $30,000. Perhaps this is a good reason to partially exchange ETC to BTC to diversify the portfolio.
BTC Price Predictions for 2022-2030
The short-term forecast from Wallet Investor with the scenario of BTC falling below $2,000 by June was fully justified. Long-term forecasts are more optimistic, with the agency expecting Bitcoin to recover to $49,000 by 2023. in 5 years it is possible to overcome the mark of 120,000 dollars.
TradingBeasts predicts that in 2022 the maximum price of the coin will be around $36,000. 2023 could prove to be a challenging year for the king of the market. A loss of 15% in value is very likely, with a continuation of the downtrend in 2024 to reach a low of around $17,600.
By the end of 2024, the coin will rise in price to 31 thousand dollars. The 2025 trading range could be between $27,000 and $52,000.
AI-assisted technical analysis from PricePrediction looks more optimistic. Until the end of 2022, the price may return to the $40,000 mark. By 2024, the coin will peak just above $64,000.
According to the findings of AI, the bullish trend will continue further. In 2024, it is possible to reach an all-time high of over $91,000, and in 2025 a rise to $137 is possible. The PricePrediction team believes that BTC could grow by 3000% by 2030.