Volatility and Cryptocurrency are like two sides of a coin, interlinked and invincibly connected. However, despite the rough terrain of the cryptocurrency movement in the global market, predictions have been strong about the ascend of Bitcoin. There is a wide range of predictions revolving around cryptocurrency and Bitcoin Boom for the second half of 2022 and 2023.
The year 2021 was eventful for Crypto, which was accepted by Goldman Sachs this year. Coinbase also marked its debut in April 2021 as the first public crypto company. Another essential progress in the crypto market was that the U.S. exchange-traded fund was linked to Bitcoin, also launched recently.
According to reports of CNBC, Bitcoin, the most popular cryptocurrency to date, witnessed an ascend of up to 70% from 2021 till now. It has been the primary factor in the expansion of the entire crypto market, which now has a total market value of $2 trillion. The price of bitcoin, however, fluctuated significantly throughout the year, reaching $45,000 to $50,000 but falling short of its record high of $68,000. Experts have made predictions on the scopes and prospects of Bitcoin based on different market news. Here are a few hypes flashes.
October Crypto Market Highlights
In the previous two months, the price of bitcoin showed a slight fluctuation between $19,000 and $20,000. For the first time since 2020, the price of BTC’s well-known 20-day volatility cycle fell below those of the Nasdaq Composite and the S&P 500. A market expert like Anthony Rousseau finds it a bullish sign for crypto market investors. Until the last month and November, Bitcoin has exhibited consistent growth by surging to around $20,900. Even though Ethereum and Bitcoin both remain down the slide by 57% compared to their highest price, Ethereum too jumped to above $1,580 last month.
Crypto Crash vs. Crypto Surge
While Bitcoin marked its golden stroke in November 2021, when its price leaped to a record high of around $69,000 in November, it has shown extreme volatility throughout 2022. With a drip of more than 50% Sussex University finance professor Carol Alexander, expects Bitcoin to dip as low as $10,000 in 2022. However, even this prediction is contradicted by experts in the market. Japanese digital asset exchange market analyst Yuya Hasegawa, of Bitbank, however, recognizes Fed to be the greatest risk in the crypto market. In a report released in Analytics Insight, experts revealed the potential scope of Bitcoin striking $100,000 by 2023 end, while some expect the stoke to be around $70,000.
Many other market analysts disagree, as noted by New York-based certified crypto specialist Kate Waltman, who claims, “The most knowledgeable educators in the space are predicting $100,000 bitcoin in Q1 2022 or sooner.” Jurrien Timmer, the director of global macro at Fidelity Investments, finds it rather realistic to expect a price rise of Bitcoin around $45000 to $50,000. There are multiple reasons behind this expected surge in Bitcoin market value:
- According to several crypto analysts by 2022 to 2023 Bitcoin exchange-traded fund (ETF) could get approval in the United States which would offer crypto investors direct and extensive exposure to the cryptocurrency market.
- Ric Edelman, who is the founder of the Digital Assets Council of Financial Professionals revealed his prediction to The Ascent, where he finds approximately more than 500 million people globally to join the Bitcoin ownership legacy by the end of 2022.
- Even Flori Marquez the co-founder of BlockFi shared his experienced opinion with CoinTelegraph, expecting higher and growing adoption of crypto trading worldwide.
- Mike McGlone, who is a Bloomberg commodity strategist, finds greater scopes of Bitcoin moving up to $100,000 by 2025.
It is indeed true that Bitcoin coin has always exhibited volatility in its market movement and price movement; however, despite this, it remains to be one of the most popular crypto investment choices among investors. Besides, with the advent of secure and reliable investment platforms like The Bitcoin Prime platform cryptocurrency trading has become way easier for a layman with minimal understanding of crypto trading and the market. Since the market predictions foretell growth expectations, analysts also find this to be the suitable hour for new investments and the beginning of crypto trading for beginners.
