Several cryptocurrency experts have weighed in on this question, predicting that Bitcoin’s price will reach at least $100,000 by 2022. A number of factors support their prediction, including recent network upgrades and increasing use of the Lightning Network on the Bitcoin blockchain. However, other indicators suggest that the price of Bitcoin could fall below that level. While no one knows for sure, experts are not ruling out a Bitcoin price drop.
While there is a good chance that the prices of other cryptocurrencies will continue to fall, many economists and analysts believe that Bitcoin is unlikely to reach its current low by 2022. According to the Bloomberg Consensus Forecast, BTC will top $58,000 before reaching its current price. In the long run, however, the BTCUSD market technical analysis points to a bullish scenario.
Tom Lee, a managing partner at Fundstrat Global Advisor, has set a price target of $200K for the cryptocurrency. This price target is still a significant discount from its peak. According to Lee, more than 90% of the Bitcoin coins have already been mined, meaning that its supply is at a three-year low. In the meantime, new regulations are expected to legitimize the digital asset sector and allow movement.
Despite the prevailing negative sentiment, a panel of 35 cryptocurrency experts at Finder has published a report predicting that the price of bitcoin could drop to $406,000 by the year 2025. Interestingly, the panel has been more optimistic since last April, and it predicted that BTC would hit $400,200 by 2025. However, it has lowered its forecast in each of the last four reports, indicating that they are not yet confident in the current price of the cryptocurrency.