With the price of Bitcoin now below $20,000, many cryptocurrency enthusiasts are wondering how low the price could go before recovery and whether it will recover at all.
Some experts predict a bullish trend while others see the bearish trend continuing. With so many fluctuations in BTC’s price, coupled with the general instability of the crypto market and the recent crypto crash, it can be difficult to make accurate predictions.
Here’s our Bitcoin price prediction for 2022 and beyond which includes analysis from the best industry experts to help you understand more about the future of Bitcoin and whether you should invest or not.
A list of industry expert views has been combined to better understand which direction most crypto analysts are leaning in. This can be used to draw a more accurate conclusion about BTC’s price in the near future, as well as in the long run:
Pseudonym Analyst Capo
According to Capo, his half a million Twitter followers claim that King Crypto has now overcome a slanted resistance on the lower time frame, which suggests that Bitcoin is ready for a breakthrough surge.
Here’s his take on the matter:
“The main bearish trend line has been breached. The $20,700–$20,800 resistance level will be broken in a bullish signal for downward pressure. After that, we ought to see $22,500-$23,000. Breach of $19,500 and verification at $20,800 are null and void for the Short Squeeze Idea. A fresh start of $19,000 is expected to occur.”
As for Ethereum (ETH), Cap says that it offers good short-term rewards. However, it is important to do your own research before investing, as the prices of every cryptocurrency tend to change by the minute.
If you currently own crypto and need a safe place to store it, use the financial app Grapharex to gain access to a crypto wallet, debit card, and other features.
Cryptosaurus Analyst Daniel Warren
Over the last several weeks, it has been widely reported that it was selling for a discount between $20,000 and $22,000 per share. Despite this, strong selling pressure caused the king coin to drop below $20,000.
The difficulty of BTC maintaining a price above $20,000 indicates that upcoming price volatility is outpacing the existing demand. It has been discovered that part of this selling pressure was caused by outflows from crypto miners’ funds.
Between the first week of August and the first week of September, the reserves held by BTC miners have decreased by 7817 coins. This is equivalent to about $154 million at the current price.
Should You Invest in BTC Today?
As you can see, expert reviews may differ from one another entirely. However, here are solid facts that can help you make your decision on whether to purchase BTC or not:
Selling pressure has decreased as a result of a considerable decrease in whale and institutional outflows. Investors are still hesitant about fear of missing out (FOMO) returning, as evidenced by King Coin’s failure to fully recover from the fall.
The current Bitcoin market situation demonstrates that there is still a great deal of market uncertainty. Although there is a chance that Bitcoin will rise above its present levels, macroeconomic variables may favor a bearish trend.
Higher interest rates may put further strain on investors and result in further withdrawals. On the other side, investors may be more likely to buy at a lower price if Bitcoin prices continue to drop.