Can Bitcoin recover $ 30,000 by September 2022? Potential scenarios
As the price of Bitcoin (BTC) has fluctuated in and around the $ 20,000 zone in recent weeks, investors are curious to see if the flagship’s digital asset may continue to rise to previous highs in the coming months.
The cryptocurrency market will then enter the last summer month of September, and many investors are wondering if Bitcoin can reach $ 30,000, an important psychological level in the past, before heading towards the autumn. Bitcoin is now trading at $ 20,552, which is slightly less than $ 9,500 away from this price, according to CoinMarketCap data.
In addition, Bitcoin is also 5.02% in the last week, which means that it currently has a market value of 393 billion dollars.
One crypto-trading expert CryptoYurii thinking the hesitant price behavior of Bitcoin may be part of the Wyckoff setup, which may see BTC rise to $ 30,000 by September 2022. The setup is a technical indicator that hints at the possibility of a bullish reversal after significant downward movements.
A phase of “accumulation” comes first in the Bitcoin Wyckoff setup, which is then followed by an eruption. As soon as the outbreak hits a specific amount, which for BTC is about $ 30,000, the price movement will most likely begin to consolidate in the “distribution phase” and then subside.
Earlier this month, Finbold examined the cryptocurrency community’s price prediction to measure their potential price for the end of July. Interestingly, the community predicted a price of $ 36,668 by July 31, calculated as an average of the votes submitted by 28,319 users at the time.
According to the community’s forecast for August 31, 2022, they predict that Bitcoin will trade at $ 34,179, which is $ 13,563 more than the asset’s current price and an increase of 65.79%.
Industry experts are not so positive about Bitcoin
Meanwhile, the consensus of 53 cryptocurrency and Web3 industry 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.
Fintech experts are not as positive about Bitcoin’s price, not even at the end of the year. Seventy-seven percent of the panelists say that the market is officially in a “crypto winter”, and only 29 percent believe that this bear market will end in 2022.
Finally, Wall Street investors predicted that Bitcoin would weaken significantly in the near future, believing that the token is more likely to reach $ 10,000, which will reduce its value by almost half, than that it will climb back to $ 30,000.
The forecast is proof that investors have an unnecessarily negative perspective on the future. Uneasy lenders, collapsing currencies and an end to the simple monetary policy of the past that led to speculative insanity in the financial markets have all had a negative impact on the cryptocurrency sector, which as a result has been shaken.
Disclaimer: The content of this page should not be construed as investment advice. Investment is speculative. When you invest, your capital is at stake.
