Sharing their predictions about the leading crypto, 50 Fintech leaders predict that the price of Bitcoin (BTC) will see the bottom 13 thousand dollars. However, he expects to recover by December, reaching $25,000.
“We will see even lower Bitcoin prices”
cryptocoin.com As you follow, Bitcoin (BTC) has lost its support at the critical $20,000 level. Investors are wondering where the bottom will be for Bitcoin and at what price it will end the year. Specifically, according to the results of the Finder survey of 53 cryptocurrencies and Web3 industry experts, he predicts that the Bitcoin price will hit the yearly low of $13,676 in 2022 and recover before closing the year at $25,473.
Bitcoin price at the end of 2022 / Source: FinderMorpher CEO Martin Froehler predicts that the Bitcoin price will drop below $12,000 before jumping to $40,000 by the end of the year. In this context, Froehler says:
It is reasonable to expect larger projects to fail over the next few months. Individual sentiment is at historic lows due to global economic uncertainty and inflation. Highly leveraged miners forced to digest the Chinese output will capitulate. It will also further increase the downward pressure. We will see even lower Bitcoin prices.
70% of experts believe crypto has entered a bear market
Notably, 70% of respondents reflect the widespread feeling that the market as a whole is bearish. Hence, he believes the market has officially entered a ‘crypto winter’.
Meanwhile, according to 70% of panelists, the most important factor that led to the collapse of the cryptocurrency market is the rise in interest rates worldwide. This is followed by the collapse of Terra (LUNA) (68%). Central banks tightening their balance sheets (47%) and an increase in inflation (40%) follow.
Main reasons for Bitcoin’s price downtrend / Source: FinderHowever, there is also disagreement over how long the crypto winter will last. Only 29% say the market will recover this year. 46% of respondents believe it will continue until 2023. The remaining 24% say it will continue until 2024 or possibly beyond.
Paul Levy, a senior professor at the University of Brighton, predicts that the cryptocurrency winter will last until the second half of 2023. He also predicts that the Bitcoin price will reach $15,000 by the end of 2022. Paul Levy explains:
Bitcoin will likely return in 2023. This, in turn, may actually lead to inflated expectations and further instability. Much of course depends on world events such as the war in Ukraine and its own continuing impact on global confidence.
Average forecast down more than 60% since April
The panel’s average price expectations for Bitcoin have dropped significantly this year. In April, the panel predicted that the value of Bitcoin would reach $65,185 by the end of the year. But in just a few short months, the average estimate fell 61%. Also, price projections for 2025 and 2030 have dropped much less than in the past. But it’s still considerably higher than Bitcoin’s all-time high of just under $70,000.
In April of this year, the group predicted that Bitcoin would hit $179,280 by 2025 and $420,240 by 2030. According to his new predictions, the value of Bitcoin in 2025 will be $ 106,757 and in 2030 it will be $ 314,314. That means a 40% and 25% decrease, respectively. With positive long-term price predictions, 50% of Finder panelists say it’s time to buy BTC. This figure was 73% in April. On the other hand, 40% of respondents say it’s time to wait and 10% say it’s time to sell.
