50 fintech executives see Bitcoin trading at $ 25k by December and $ 13k at the bottom
With Bitcoin (BTC) losing support at the crucial $ 20,000 level, investors are curious to know where the bottom will be for the flagship digital asset and at what price it will end the year.
In particular, the consensus of 53 cryptocurrency and Web3 experts predicts that the price of Bitcoin will reach an annual low of $ 13,676 in 2022, before returning to end the year at $ 25,473, according to the results of a Finds poll shared with Finbold July 12th.
Martin Froehler, CEO of Morpher, predicts that the price of bitcoin will fall below $ 12,000 before returning to $ 40,000 by the end of the year.
“It is reasonable to expect several major projects to fail over the next few months. Retail sentiment is at an all-time low due to global economic uncertainty and inflation. High-yield miners, who only had to digest the China exodus, will capitulate and increase the downward pressure even more. We will see even lower Bitcoin prices. “
70% of the experts believe that crypto has entered the bear market
In particular, 70% of respondents believe that the market has officially entered a “crypto winter”, reflecting the widespread feeling that the market as a whole has been bearish.
Meanwhile, 70% of panelists, the main factor leading to the collapse of the cryptocurrency market, was a rise in interest rates worldwide. This is followed by the collapse of Terra (LUNA) (68%), a tightening of central bank balances (47%), and an increase in inflation (40%).
However, there is also disagreement about how long the crypto winter will last. Only 29% believe that the market will pick up again this year, while 46% believe it will continue until 2023, and 24% believe it will continue until 2024 or possibly later.
Paul Levy, a senior professor at the University of Brighton, expects that the cryptocurrency winter will last until the second half of 2023 and that the price of bitcoin will reach $ 15,000 by the end of 2022.
“Bitcoin is likely to bounce back in 2023, which may in fact lead to inflated expectations and further instability. Much depends, of course, on world events such as the war in Ukraine and its own ongoing impact on global confidence,” he said.
The average estimate is down by over 60% since April
The decline in the panel’s average price expectations for Bitcoin this year has been significant. In April, the panel predicted that Bitcoin’s value would reach $ 65,185 by the end of the year; but in just a few short months, the average forecast has fallen by 61%.
The price forecasts for 2025 and 2030 have fallen far less than they did before, but they are still significantly higher than bitcoin’s all-time high of just under $ 70,000.
In April this year, the group predicted that the value of one bitcoin will increase to $ 179,280 by 2025 and $ 420,240 by 2030. According to their estimates, the value of a Bitcoin in 2025 will be $ 106,757, and in 2030 it will be $ 314,314, which is a decrease of 40 respectively. % and 25%.
With positive long-term price estimates, 50% of Finder’s panelists now believe it’s time to buy BTC (this figure is down from 73% in April), while 40% say it’s time to hold, and 10% say it’s on time to sell.
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