As usual, there are many predictions regarding cryptocurrency prices for 2022.
Cryptocurrency price forecasts for 2022
Bitcoin
To begin with, there are those about the price of Bitcoin, as it is the reference price that can also affect all those of the other cryptocurrencies.
As far as BTC is concerned, there are at least two different forecasts that converge on the hypothesis that during 2022 its price could reach a range between $90,000 and $100,000.
One of them is the one made by Finder.com‘s panel of experts, whose average forecast indicates $93,717 as the maximum price, and $76,360 as the final price. Since it is the average of 33 different forecasts, it can be taken as a reference especially regarding expectations.
Another one is from Bloomberg, according to which the price of Bitcoin during 2022 could reach $100,000 since the recent corrections would have made the asset stronger. They believe that the current phase is probably a period of consolidation on the way to becoming a global digital security.
However, it should also be added that in the short term many analysts claim that the price could fall even further to below $30,000, although this hypothesis has been circulating for several days now and has not yet come true.
The crypto market according to XTB
With regard to the fact that crypto markets could perform well in 2022, it is worth mentioning the forecast of the XTB exchange. According to their prediction, 2022 could be a breakthrough year for the crypto sector, despite the uncertain start.
The key point is that the bullish trend of 2021 could continue in the current year, after the ongoing consolidation phase, thanks to the growth in cryptocurrency adoption.
This forecast does not give any indication on prices, but combined with the previous ones it seems to strengthen the hypothesis of growth during the current year.
Growth for Ethereum
Coinbase also published positive forecasts for 2022, specifically regarding Ethereum.
According to Coinbase’s Chief Product Officer (CPO), Surojit Chatterjee, the move to ETH 2.0 and the proliferation of second layers on Ethereum should allow further development to the network, which is already largely developed in 2021.
Given that ETH is the de facto utility token of the Ethereum network, it is not surprising that there are those who speculate that 2022 will see a rising price.
Cardano on the rise
There are also positive forecasts regarding ADA (Cardano). In fact, according to many experts, the possible further development of DeFi and NFTs could benefit the price of ADA, so much so that there are those who venture that it could regain the third position for market cap, undermining BNB.
It is worth adding, however, that the most widespread expectations of crypto markets are often disregarded. Therefore, if on the one hand the positive forecasts are currently proliferating, following the consolidation phase of the last two and a half months, on the other hand, a possible excess of optimism could instead produce ideal conditions for a reversal of the same expectations.
Even the least optimistic of analysts familiar with crypto markets claim that the price of Bitcoin is unlikely to fall below $29,000 or $28,000 at this stage, and this contributes to the spread of a certain optimism. Should this optimism not be followed by a real increase in prices in the coming weeks, an excess of pessimism could take over, which could possibly drive prices even further down.
Source: https://en.cryptonomist.ch/2022/02/05/5-cryptocurrency-price-forecasts-2022/