Bitcoin price has been trading in and around the $20,000 region for the past few weeks. Investors are wondering if the leading crypto asset will continue to rise to highs in the coming months. Will Bitcoin be $30,000? What are the Bitcoin target and bullish probabilities until September 2022?
The cryptocurrency market will enter the last month of summer in September. Many investors are wondering if Bitcoin can reach $30,000, which has been an important psychological level in the past, before it plummets. According to the data, BTC is currently trading at $20,500, which is $9,500 less than that price.
Bitcoin currently has a market cap of around $395 billion and market dominance is at 43.57%.
Crypto trader CryptoYurii speculates that Bitcoin’s hesitant price behavior could be part of the Wyckoff pattern, which shows it could rise to $30,000 by September 2022. The pattern is a technical indicator that hints at the possibility of an uptrend after a significant drop.
Bitcoin Wyckoff AccumulationIn the Bitcoin Wyckoff setup comes an “accumulation” phase first followed by a breakout. The break marks around $30,000 for BTC. Price action will most likely start consolidating in the “distribution” phase and then decline. With the breakout and retest above the red-marked region, the probability of 30 thousand dollars is shown.
Bitcoin Price Prediction of the Crypto Community
Below is the price prediction for Bitcoin made by the CoinMarketCap community. Approximately 13 thousand participants estimate the price of BTC to be $ 33 thousand 510 on 30.09.2022. For this prediction, the price needs to increase by approximately $12,880 of Bitcoin. An increase of 62.43% is required.
Industry Experts Are Not Optimistic About Bitcoin
Meanwhile, the consensus of 53 cryptocurrencies and Web3 industry experts predicts that the Bitcoin price will hit its yearly low of $13,676 in 2022 and recover before closing the year at $25.473.
Fintech experts are not that optimistic about the Bitcoin dollar price even until the end of the year. Seventy-seven percent of panelists say the market is officially in a “crypto winter.” And only 29 percent think this bear market will end in 2022.
Finally, investors on Wall Street believed that the asset was more likely to hit $10,000 and predicted that Bitcoin would depreciate significantly in the near future, which would almost halve its value rather than return to $30,000.
Recent price movements have brought indecision. The yearly low of $17,622 has returned to the bullish view but the volatility remains.
