Outlook for the end of 2022, 2025 and 2030
Bitcoin Price Prediction: BTC adoption remains a dominant trend in Australia, with 61% of crypto owners holding BTC. This represents the largest share of global Bitcoin ownership. The exponential adoption of blockchain technology has led a panel of experts to believe that the BTC price could reach $79,000 by 2025.
Rome wasn’t built in a day. Instead, the workers laid bricks every hour, multiplied by years, even decades, of sweat and blood.
Now that I have your attention, let’s explore the crypto angle. You are reading this because of your enthusiasm for crypto (puncher the air). But using the Rome analogy here – global adoption of cryptocurrency will take a while.
Despite significant setbacks recently, a crypto adoption rate scenario may surprise you. So, here’s to keeping the “Crypto” Christmas spirit alive.
A comparison web portal, Finder’s Cryptocurrency Index, measured the growth of cryptocurrencies globally based on a survey of internet users in 26 countries.
Here, India led the charge with 28% ownership, followed by Nigeria with a global adoption rate of 26%. Australia ranked 5thth with a 20% share after Vietnam (23%) and Hong Kong (21%) respectively.
But is Australia in line to become a Bitcoin country? Here’s the what, why and how…
Down Under in Aussieland
Entities or individuals who buy or sell Bitcoin have weathered it all: from rain to sunshine. But have put their trust in countries that use crypto as a store of value. In this case, it appears to be Australia.
An October 2022 report from Finder puts Australia in the spotlight among 26 nations surveyed for crypto adoption. When it comes to crypto, Bitcoin (BTC) is the most preferred crypto, followed by Ethereum (ETH) and Dogecoin (DOGE).
According to the report, 61% of Australian crypto owners own Bitcoin. While the global average BTC owners stood at 36%. Ergo, Australia is way over and presumably secondary to the narrative of being called a Bitcoin country.
After Australia, Ghana took 2ndn.d spot with 58% share, followed by Nigeria with 48%. At the other end is Mexico, where 22% of crypto owners say they own Bitcoin.
Crypto Age Demographics and Trends
Among those surveyed in Australia, 60% were men, while 40% were women. There is a huge gap in crypto adoption between men and women. On average of crypto owners, the report added:
“(…) on average 36% are women, while 64% are men. Norway has the biggest gap, with 75% of people who own crypto being men. Vietnam is the closest between the sexes (crypt ownership is 54% men, compared to 46% women).”
Here is the table showing the age trends:
Bitcoin Price Prediction: Short-term and long-term route
Now comes the fun part for crypto enthusiasts out there. Finder’s October survey also shows BTC price predictions for the short and long term future.
Here, 55 industry specialists (fintech/crypto) were surveyed about how the Bitcoin price would perform over the next decade. Here are some exciting results, measured at an average rate:
“Our panel believes Bitcoin (BTC) will be worth $21,344 by the end of 2022 before rising to $79,193 by 2025.”
Meanwhile, the Bitcoin price could reach $270,722 in 2030, according to the graph below.
A Bitcoin price prediction around the $21,000 mark – certainly not the stuff dreams are made of, but given the intense bearish obstacles, one can easily pick it up.
But remember that the Bitcoin price may find another bottom in this bear market. Something that was wisely addressed in this survey. That is, at its peak, the panel sees BTC reaching $24,013 in 2022, but it also predicts a bottom to just $15,283 sometime this year.
Cryptocrash played a significant role in the speculative scenario(s).
One of the panelists and CEO of EXMO, Serhii Zhdanov, stated:
“Nothing fundamental has changed for Bitcoin, there is a global capital crisis and Bitcoin is affected in the short term but will recover; many other financial assets will not.”
Is BTC still considered a store of value?
Absolutely yes! A majority believe in BTC ability. 77% of panelists voted for BTC, while 19% said otherwise. The remaining 4% were unsure.
Additionally, 46% of experts agreed to buy Bitcoin, while 44% are HODLers. Meanwhile, 10% are sellers.
“The most common reason our panelists think it’s time to buy BTC is because the current weakness in the price is due to macroeconomic factors weighing it down, rather than a fundamental change in the cryptocurrency.”
That said, Bitcoin remains a topic of scrutiny both inside and outside of the crypto world. Especially in Australia, given the regulatory uncertainty in this region and high inflation rates.
In a statement led by the government led by Prime Minister Anthony Albanese added: “As it is now, the crypto sector is largely unregulated and we need to do some work to get the balance right so we can embrace new and innovative technologies.”
Given the crypto grip in Australia, the government took a serious approach to enacting a clear and transparent regulation. Until then, crypto regulation and crypto management remain a gray area.
This can actually be seen by a recent interaction between crypto providers here. As BeinCrypto reported, three crypto exchange-traded funds (ETFs) introduced in Australia earlier this year were delisted.
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