Similarly, Ethereum (ETH) also saw significant bullish developments this year, with the implementation of the EIP-1559 update which for the first time introduced a token burning mechanism to reduce supply, arguably the most important. In addition to achieving a good advance in its price and proving more resistant to external shocks, unlike Bitcoin.
For analysts, 2022 will also be a good year for the cryptocurrency market, but opinions, unsurprisingly, vary between the most optimistic and the least optimistic.
Although this year has by no means been an easy road for Bitcoins holders, with strong rallies and deep corrections throughout the year, all commentators were optimistic about its price for next year.
“My prediction is that it will remain volatile, however the long-term trend will point upward and double in terms of total market capitalization per year on average.”said Kjetil Hove Pettersen, CEO of the Norwegian Bitcoin miner. Kryptovault said, adding: “I expect a strong increase in the short term, in 2022 we can see $ 140,000 or more.”
However, Pettersen also stressed that it is “impossible to predict precisely” where the price might go, and that technical analysis will not necessarily work when external factors come into play. “There are so many external factors and influences at play that it makes it difficult to apply traditional technical analysis or historical comparisons,” said the Bitcoin miner.
Meanwhile, Bernardo Schucman, senior vice president of the digital currency division of Bitcoin miner CleanSpark, was also bullish on the number one cryptocurrency over the next year. “I believe in $ 250,000 for BTC by the end of 2022 based on the large number of Bitcoin mining companies that were founded in the United States in 2021, “predicted Schucman.
He added that these new miners are not only increasing the hashrate or computational power of the Bitcoin network, but they are also “strong holders of the asset.” “The last, but very important, key factor in maximizing the BTC price surge will be greater adoption of the use of BTC wallets implemented on social media, such as Twitter,” Schucman said, noting that Bitcoin’s Lightning Network will offer “a huge push for mass adoption of BTC. “
Most optimistic among the pundits was Julian Liniger, CEO of Swiss-based bitcoin broker Relai, who said we could be about to see BTC adoption taken to a whole new level in 2022. “Individuals, businesses and now even countries are starting to adopt bitcoin more and more and fiat currency inflation is increasing, “Liniger told Cryptonews.com. He added that daily price changes in bitcoin “went from hundreds to thousands to tens of thousands, and will end in hundreds of thousands of dollars in 2022.”
Next year, Relai’s CEO will look extremely optimistic for the number one cryptocurrency: “I think 2022 will be the year that bitcoin hits $ 500k,” Liniger estimated.
As popular independent bitcoin chain and technical analyst Matthew Hyland predicted in early November, bitcoin could hit $ 250,000 by January 2022, although this would require a large and rapid rise from where the cryptocurrency is now.
Hyland justified his high price target by saying that we have yet to see euphoria like we saw in 2017 in the current market cycle, and explained that this should be seen in “the final part of a bubble.” “I predict that the euphoria will begin when bitcoin surpasses $ 100,000,” Hyland wrote on Twitter just before the market began to correct lower in late November.
The algorithm-based forecasting site Wallet Investor’s BTC price prediction predicts bitcoin to fall back above the $ 60,000 level in December to hit $ 62,410 by the end of 2021. Its bitcoin forecast for 2022 it projects that the price will trend higher throughout the year to reach $ 94,755.40 next December.
DigitalCoin is also bullish on its bitcoin forecast, predicting that the price will average $ 101,344.22 in 2022. It estimates that the cryptocurrency will surge to $ 113,772.30 in 2023 and average $ 171,941.64 in 2025, similar to Wallet Investor’s forecast that the price It will rise from $ 159,636 at the beginning of the year to $ 191,732 at the end of the year.
Price Prediction’s long-term forecast causes the price to rise from an average of $ 83,976.42 in 2022 and $ 125,609.26 in 2023 to $ 267,749.56 in 2025, rising to $ 1,588,455.53 by 2030.
As of September 2021, Standard Chartered set a target price for bitcoin in the range of $ 50,000 to $ 175,000 in the long term. The bank expected a peak of around $ 100,000 in late 2021 or early 2022.
It is important to note that analysts’ forecasts may be wrong. Analyst projections are based on conducting a fundamental and technical study of a crypto’s performance. Past performance is not a guarantee of future results.
Source From: Ambito
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