Bitcoin (BTC) Price Prediction: Is The $70K Price Tag Still Possible This 2022?

The star crypto Bitcoin has been witnessing a growing correlation with the evolution of the internet from the 20th century. The market leader has also been following the footsteps of the equity markets and of gold. In recent times, “the 90-day correlation between BTC and S&P 500 hit a 17-month high”. The growing correlation has been welcoming a host of new investors and adoptions, alongside dumps.  

With the recent rise in liquidations, coming in light of longs and the equity market’s turmoils. Investors and traders hold scepticism around the plausible future prospects of Bitcoin. The scepticism in the business has been evident since the start of 2022. As the market has been ranging in consolidation.

Successively, occurrences such as soaring inflation numbers, FED’s interest rate hikes, Russian Invasion, and Europe’s vote on PoW chains. Have collectively collared the price projection of BTC. Fasten your seatbelts until we decode the plausible price projections for 2022 and beyond.

Overview

Cryptocurrency	Bitcoin
Token	BTC
Price	$ 29,720.9400
Market cap	$ 566,522,087,650.0000
Circulating Supply	19,049,137.0000
Trading Volume	$ 23,702,427,972.0000
All time high	$ 69,045.0000 Nov 10, 2021
All time low	$ 67.8100 Jul 6, 2013

BTC Price Projection For June Of 2022

As seen in the daily chart, the star crypto has lost $9,000 from its price tag, since the start of the month. Moreover, a bearish flag is evident on the market chart of BTC. Going south, the price could find a rebound from its support at $26,239.17, to $29,101. But could soon take a dip to its support levels at $23,800. 

Successively, failing to rebound from which could leave BTC range bound between $23,800 to $22,900. Losing the threshold at $22,900 could pave the way to levels around $20,000 by the end of the month. Which has been the scenario historically in the case of a bearish flag. 

Bitcoin (BTC) Price Prediction For 2022

Potential Low	Average Price	Potential High
$36,699.28	$45,578.95	$55,436.17

BTC price had initiated the year with continuity in its downtrend from the bygone year. With a price tag of $46,165.73, which spiked to $47,889.75 on the same day. But had a fall over the days to hit its bottom of $39,875.14, on the 10th of January. Whilst it did get interim relief with a spike to $44,543.13 on the 13th of January.

Bitcoin price slipped to its quarterly bottom of $33,116 on the 24th of January. Whilst the star crypto did pose a gradual rise to $45,760.08 on February 10th. Torrential torments in the business took the price to another fall at $34,401.85.

After a series of oscillations, the star crypto traded at $39,771.4. Following a leg up to $45,311.6, BTC took a dip to $38,946.15 by the 5th of March. Thereafter, a steady uptrend took the price to $47,499.73 by the 31st of March. Bitcoin has had a rough sail in the second quarter. BTC’s price is now down 37.5% since the start of the quarter.

BTC’s Forecast For Q3

 If the star crypto initiates the third quarter with a bullish surge following the second quarter. The price of the star crypto could brush the levels of $34,768.83. Which could follow after oscillations at crucial levels. On the downside, picking up pace from the lows of Q2 could leave the price at its crucial level of $23,655. That said, an equilibrium in buying and selling pressures could land the price at $26,239.17

BTC’s Projection For Q4

Continuity in the bullish momentum from the third quarter could help BTC’s price rise towards the level of $40,338.6. Furthermore, A leg-up from $47,698.65, could land the price at its annual closing target of $55,436.17. On the flip side, if bears weigh heavier than the bulls, the price could settle at $36,699.28. That said, usual buying and selling pressures could settle the price at $45,578.95.

Price Forecast Of BTC For 2023

If the star crypto carries forward a bullish legacy from the peaks of the current year. We can expect the BTC price to inch towards its first six-digit price tag. On a bullish note, if favourable conditions prevail BTC price could make its way to levels around $76,750.57. In contrast, the price of the star crypto could sink to the lows of $53,665.23.

BTC Prediction For 2024

We will be able to see notable changes in scalability, with developments in the taproot. Moreover, the supply crunch would grow more evident, with the approaching halving event. Wherefore, the price could surge to a maximum of $111,405.33 by the end of 2024. In contrast, factors like a prolonged bear run could knock the price down to $72,349.96. 

Price Trajectory For 2025

If Bitcoin manages to diversify and empower its liquidity over the next three years. It holds the possibility to attract more investors, which would result in global recognition. That said, the chances of investments fueled by FOMO would be on the higher side. Prevailing which the price could skyrocket to $144,731.62 by the end of 2025.

On the flip side, if the star crypto falls prey to the bears. Owing to criticism coming from the concerns of mining, energy consumption, and regulation, amongst others. The possibility of the BTC price ending the yearly trade at $101,213.75 cannot be ruled out..

Year	Potential High	Potential Low
2023	$53,665.23	$76,750.57
2024	$72,349.96	$111,405.33
2025	$101,213.75	$144,731.62

What Does The Market Say?

Wallet Investor:

According to Wallet Investor’s algorithm-based forecast, the largest crypto asset could hit a maximum of $53,547.3 by 2022. And the downside could flip the price to $36,242.  The average buying and selling pressures could propel the price to trade at $44,692.5.

Successively, the firm agrees with the broader market, that Bitcoin can be a profitable investment for the long term. The firm cites that BTC would rise from a minimum of $102,549 and could pursue the rally to claim $114,935 by 2025.

Digital Coin Price:

According to Digital Coin Price, BTC’s price will meet an uptrend in due course of time. Further citing that BTC could close 2025 trade at an average price of $58,752.82. The firm hints at a maximum price target of $68,496.56, and a minimum target of $51,883.61.

Trading Beasts:

Trading Beasts predicts that the BTC price might close the trade for 2022 at a maximum of $36,810.33. Whilst a reversal in trend could drag the price down to $25,031.026. A balance in trade activities could land the price at $29,448.26. 

Gov. Capital:

Gov. Capital expects Bitcoin price to hit a maximum of $51,319.969 by the end of 2022. The analysts from the firm have pinned the minimum and average targets at $37,932.15 and $44,626.06. The firm also hosts predictions for the long term. Accordingly, the price of BTC is anticipated to close 2025 at its potential high of $193,080.4.

Click here to read our price prediction on Terra (LUNA)!

What is Bitcoin?

Bitcoin is a digital currency that aims to emerge as an alternative to FIAT across nations. And empower individuals with its decentralized nature and peer-to-peer technology for instant payments. Unlike the traditional financial system, Bitcoin is not controlled by any government or organization, or by individuals. The price of Bitcoin solely depends on its demand and supply.

Since its inception in the year 2008 by an anonymous creator or creators known to the world as Satoshi Nakamoto. Bitcoin has taken the digital age by a storm, it also enjoys the title of being the oldest and largest cryptocurrency. Bitcoin’s working relies on a completely decentralized system, making use of its open-source protocol. Which pushes it head-on against the flaws of FIAT.

To learn more about Bitcoin, read our in-depth guide on the star crypto here!

Our BTC Price Prediction

  Bitcoin price has commenced the current year in a choppy trend. According to the formulated price prediction by Coinpedia. Seeking impetus from institutional investments and acceptance, the price of BTC could propel to a maximum of $55,000 by the end of 2022. In contrast, if concerns around PoW chains and energy consumption worsen. We can expect the Bitcoin price to settle at levels around $36,500.

Historic Price Sentiments

As previously said, the proposal of introducing Bitcoin was implemented in 2008 by a pseudonymous person/group of persons called Satoshi Nakamoto. Bitcoin was launched on the 3rd of January 2009, when a block named genesis got mined. Later the transaction took place after a week.

2010

In 2010 BTC was officially launched on the exchange Bitcoinmarket.com at a price of $0.003. The price of the coin rose to $0.08 as the cryptocurrency was mentioned in the popular news resource Slashdot. To increase the stability of Bitcoin, another exchange called Mt.Gox was launched further in July.

With certain variations, BTC managed to be in the range of $0.06 and $0.07 until October. Later, Bitcoin progressively hiked as it was trading at $0.35 on bitcoinmarket.com and $0.5 on Mt.Gox. and touched the $1 million mark by market capitalization.

2011

In early 2011, Bitcoin was trading at around the $0.2 and $0.3 mark with a price deviation. Later the price was seen taking a hike dramatically to $1 by mid-February. As the coin grabbed the attention of the marketers with mentions on Hacker News and Twitter. The launch of the Darknet site Silkroad where Bitcoin was considered the main payment system.

The price drastically surged to $32 by early June and further fell to $10. Surprisingly, BTC again gained its resistance level later. Shockingly, the prices of BTC crashed as Mt.Gox was hacked and a lack of files were stolen by the hackers. With certain variations, the price sank to $6 in the first week of August. The coin quickly recovered to reach $12 and further sank to $2.5 by the end of November.

2012

With certain variations, BTC managed to trade around $5.27 and $12.57 throughout the year 2012.

2013

The star coin was trading at around $20 during February, the price rose exponentially to $220 in April. The financial crisis in Cyprus collapsed in the same month, which led the price to $76. However, huge demand helped the price recover the $160 tag. Later, in May, the coin fell to $101.97.

The price continued to remain stable with some variations for several months. Interestingly, the coin hit $1,124.71 by the end of November as the market rushed to invest in BTC. By the end of December 2013, BTC was trading at $755.16.

2014

BTC entered 2014 with a price of around $818.76 but did encounter fluctuations further on. Bitcoin was seen trading between $321.05 and $839.01 throughout 2014.

2015

BTC was trading at $306.73 during the start of January. BTC has experienced various fluctuations in the year 2015 as many exchanges suffered major hacks and came under stronger regulations. The coin hovered between $229.75 and $416.82 for the rest of the year.

2016

Bitcoin commenced its trade for 2016 with a price tag of $433.67, the crypto asset did undergo swings in due course. BTC’s price hit $753.35 by mid-June as the community announced the news about its second halving event.

Consequently, the price was seen rising to $693.47, following a pullback in July as part of the halving. Post which, the digital coin underwent another round of fluctuations. The price of Bitcoin managed to end the yearly trade on a bullish note at $951.01.

2017

BTC continued to be in a bullish run during the start of January by trading at $998.34. The price consistently grew as it turned out to be the most needed currency around the world. Bitcoin hovered between $973.07 and $1,267.76 in the month of March and started to rise further. The price soared dramatically to $2,164.46 by the end of May and to $2,968.00 by Mid June.

The release of hard fork Bitcoin Cash (BCH) in early August by the community. Made way to a progressive price surge to $3,223.95. Countering certain price shifts, the digital coin continued to remain in a bullish run. BTC’s price recorded its ATH of $18,474.11 on the 18th of December. 

Which was following the announcements made by major U.S exchanges regarding the launch of BTC futures. The price was seen further declining to $14,839.59 at the end of December 2017.

2018

Bitcoin was seen commencing 2018 on a bearish note, with a price tag of $13,877.46. The proposal of Bitcoin’s ban by Korean authorities, led to a massive price crash to $8,270.10 by mid-February. However, fluctuations in prices did help BTC stay afloat between $4,014.86 and $11,454.06 until the end of November. That said, the yearly trade was closed at $3,851.18.

2019

The eternal-like control of bears led Bitcoin to commence January at $3,692.53. The steady recovery helped Bitcoin stabilize its projection until the end of the first quarter. Bitcoin had made its way to the second quarter with a price tag of $5,300.

The second quarter was fruitful for BTC, which ended the quarterly trade at $10,692.94. Further, the price touched the $11,300 mark by August and failed to remain stable thereafter. That led to a price plunge to $7,379.96 in December to end the year 2019.

2020

Bitcoin had commenced its trade-in January with a price tag of around $7,526.04. The dramatic price action helped the price surge to $10,086.52 by mid of February. But the star crypto failed to remain stable for a long time, as the price took a plunge to $5,348.09 by mid-March.

 The announcement of Bitcoin’s triple halving event was imperative in the price recovery. Which helped the price surge progressively to $8,900 by the end of May. By early June, Bitcoin’s price managed to breach the levels of $10,100.

It was by mid-August when the prices grew at an astounding rate to claim $12,283.75. Which was executed with intermediate variations. Interestingly, the price did not decline and rose further to hit $18,323.18 by the end of November. Surprisingly, the altcoin was trading at $21,352.13 by mid-December and managed to end the annual trade at $29,388.94.

2021

Bitcoin had initiated 2021 on a positive note with its prices surpassing $30,000. In not over a month, the price of Bitcoin was seen claiming its $50,000 milestone. The price of the star crypto was seen trending within the same range until the end of February 2021. Pursuing its bullish trend, BTC price smashed a new All-Time High of $64,863 on the 14th of April, 2021.

However, the flight to the stratosphere was short-lived as the BTC price took a steep plunge from $64k to $29.8k. The rationales behind the price were FUDs coming in from Tesla halting BTC payments, owing to environmental concerns. And China’s prohibition on payment firms and financial institutions from enabling crypto services. 

The 7th of September was a historic day for Bitcoin, as Bitcoin became the legal tender in El-Salvador. Wherefore, the BTC price climbed to $53k, but the flight was short-lived, as traders extracted profits. Which led to the price taking a plunge to $43,780 on the same day. However, despite the liquidations, the flagship asset gained 12.89% profits, taking the price to $66,930 on the 21st of October.

That said, following a brief period of consolidation at $62,000. The price of Bitcoin took another move to a New All-Time High of $69,045 on the 11th of November. However, the month of December was fairly bearish, with talks around FED’s interest rate hikes. However, the decision on the 15th of December had little to no impact on the price of Bitcoin.

To read our price prediction on Chainlink, click here!

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