The Bitcoin price prediction for this year 2022, was released by the Finder’s panel. The panel conducted the survey with more than 55 fintech entities on how Bitcoin will perform in the upcoming years. On the basis of the reports, it is shown that the price of Bitcoin will show a growth rate compared to the current price.
“BTC is heavily correlated to the overall current economic climate and is in the spotlight of worldwide regulators.” If Bitcoin decouples from the main economic indicators, it will become a hedging opportunity once more.”
According to the developers, under present conditions, it is much better to buy bitcoin. Currently, bitcoin is facing external macro economic conditions that cause its prices to fall. If the regulatory system gets better, there is a chance that the price of bitcoin will again rise. The panel expected 11% growth in the price of bitcoin by the end of this year and that the price of bitcoin would be $21,344 (USD) by the end of 2022.
The panel predicted that the price of bitcoin would rise to $73,360 (USD)in January 2022, in April 2022 it went to $65,185 (USD) and $25,473 (USD) in July. The end of 2022 prediction was reached at $21,344 (USD). The panel not only calculated short-term growth, but also made a report that estimated $79,193 (USD) with a 313% increase in its growth rate by the end of 2025.
- The continuous fall of cryptocurrency prices.
- China banned mining activities.
- And the Ethereum transition to Proof of Stake (PoS).
Some of the panelists believe that Ethereum has the chance to replace bitcoin due to the merge. As per Natalia Zakharava from FXOpen, “The market cap of Ethereum will likely surpass Bitcoin.”
“Bitcoin is still the largest cryptocurrency, with the largest market cap and price. Therefore, even if it most likely will lose dominance versus other cryptos, it will still outperform most non-crypto assets. Having the least volatility of all the cryptos could perhaps prove a reason for new players to buy into Bitcoin.”
Source: https://www.thecoinrepublic.com/2022/10/22/is-bitcoin-able-to-reach-the-growth-level-of-11-by-the-end-of-the-year/