Bitcoin Price Prediction: How to predict Bitcoin prices?
Those of you invested in cryptocurrency will be very interested to know the predicted ups and downs of Bitcoin during 2022.
It has recently hit yet another all-time high, going over 68,000 dollars for the first time having previously stalled at the start of the year.
Experts are suggesting that Bitcoin is only going up and is on the path to passing 100,000 dollars by the end of the first quarter in 2022.
This after starting 2021 well below 30,000 dollars shows the meteoric rise of cryptocurrency as a new way to get rich quick.
While predictions are complete guesses at times, especially with something that fluctuates as much as Bitcoin, that hasn’t stopped experts trying to do so.
“The most knowledgeable educators in the space are predicting 100,000 dollar Bitcoin in Q1 2022 or sooner,” says New York-based crypto specialist Kate Waltman.
The first quarter of 2022 is only the start for Bitcoin with some experts saying it could rise double or even triple that amount by the time 2023 rolls around.
Robert Breedlove, Founder and CEO of the digital assets marketing and consulting firm Parallax Digital, has predicted Bitcoin will pass 300,000 dollars by the October of 2021, which it didn’t, and he expects a worth of over 12 million dollars by 2031.
Matthew Hyland, Technical analysis and blockchain data analyst, predicts a worth of 250,000 dollars just by the end of January which would require a major spike.
The fixed amount of Bitcoin available has made it more sought after with 21 million the limit of how much is in circulation.
Between 18 and 19million of that is already owned by someone so we will soon hit the wall, which is when many expect prices to rocket with lots of people wanting to invest.
The complicated algorithms that calculate the worth of Bitcoin include factors such as supply and demand, stock to flow and inflation and deflation.