By the end of this year, Bitcoin (BTC) will hit $21,344
according to Australian financial firm Finder, down from its July projection of
$25,473. The end-of-year forecast is also less optimistic than the company's
January survey, which estimated that BTC would reach $76,360 by the end of
2022. According to the company's April study, BTC will be worth $65,185 at
year's end. Given the pessimistic outlook the market has adopted throughout the
course of the year, the panel's position has shifted.
To ascertain the anticipated price of the original
cryptocurrency in the future, the company conducted two surveys with its top
experts. By 2025, the group predicted that Bitcoin would reach $79,193; by the
end of the decade, it would be close to $270,000.
According to the experts, BTC might reach a high of $24,013
in 2022. However, it also implies that costs could decrease to $15,283 at some
point this year.
What has the price forecast for Bitcoin changed since January?
By 2030, according to the company's assessment from January,
Bitcoin would be worth $420,240. The figure was reduced to $314,314 in the
April report. The study from July had the lowest projections, with a meager
$26.338 by 2030. However, the October research anticipated that by the end of
the decade, BTC will reach $270,722.
The fall of the bitcoin market can be partly blamed for the
panel's reduced predictions. However, their estimates of the heights Bitcoin
will reach by the end of 2025 and 2030 are starting to look less optimistic.
77% of the panelists still think that Bitcoin is a store of
value despite the market downturn and the dominance of the cryptocurrency
falling below 40%.
Holding BTC is preferred by the majority of panelists (44%)
while purchasing it is preferred by 46%. However, 10% of those surveyed believe
that the moment is right to sell Bitcoin right now.
The most common justification given as to why this is a great
time to purchase bitcoin is that the current price slump is due to
macroeconomic factors.
It remains to be seen if BTC will achieve the projected
levels. The significance of Bitcoin continues to intrigue investors and fans.
At the time of publication, BTC was down 0.7% in the previous 24 hours, trading
at $19,021.27.
