Experts shared forecasts for bitcoin until the end of the year

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In 2022, the Bitcoin exchange rate is under pressure. On January 1, the cryptocurrency was trading at $46.2 thousand, in June its price fell to $17.6 thousand, as of August 12, the asset is worth $23.8 thousand. Since the beginning of the year, bitcoin has fallen in price by 48.5%.

Experts RBC Crypto gave the most positive forecast for the first cryptocurrency before the end of the year and named the marks to which the price of the asset could rise in the best case.

“New heights should not be expected in the next 1.5-2 years”

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BitOK founder Dmitry Machikhin

The most positive, but at the same time realistic forecast for bitcoin before the end of the year is a rally to $33 thousand, followed by a return to an active decline. It will only be possible to realize such a scenario if the stock markets continue to grow or at least maintain current levels, giving bitcoin more time to perform growth maneuvers. It would also be nice to see easing by the US Federal Reserve in terms of the use of anti-inflation tools.

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Based on the available historical data, new price peaks should not be expected in the next 1.5-2 years. To return to the full-blown growth phase, cryptocurrencies need to go through a very long and extremely stagnant consolidation phase, which can last 6-10 months after the final bear market bottom.

“The crypto market will receive a powerful impetus to growth”

ENCRY Foundation co-founder Roman Nekrasov

The most positive scenario that comes to mind is the emergence of extremely crypto-industry-friendly regulation in the current leading market for cryptocurrencies, the United States. If, for example, regulation of stablecoins does not provide for excessive reporting for issuing companies, and if the US regulator approves the launch of a spot bitcoin ETF, while inflation continues to decline, giving a positive signal for the financial market as a whole, then the crypto market will receive a powerful impetus to growth .

In this case, Bitcoin will be able to return to the level of $55-$60 thousand by the end of the year and confidently gain a foothold in this range. Updating the historical maximum even in this case seems unlikely to me, but due to the confident consolidation at this level, bitcoin in 2023 will already be able to grow above $100,000 on expectations of the upcoming (in 2024) halving.

Now the crypto market is still highly dependent on the growth rate of consumer prices in the United States. Participants of such an active market as the American one look at this and start from the level of inflation and the level of the key rate, respectively, balancing high-risk and low-risk assets in their portfolio. The slowdown in inflation plays into the hands of high-risk assets, which is clearly seen in the growth of the S & P500 after the publication of data on consumer price growth.

“Cryptocurrencies will decline”

Head of Analytical Department AMarkets Artem Deev

Despite the general trends in the global economy and finance, positive forecasts for the cryptocurrency market occasionally appear. For example, growth up to $100,000 is predicted by the end of the year – the reason for this will be the disappointment of investors in fiat currencies, which will fall against the backdrop of the global crisis, and citizens, ordinary investors and the largest banking structures will want to protect their funds from rising inflation by shifting to bitcoin, ether and other coins. Which will be the reason for the rapid growth of cryptocoins and the market as a whole.

But such forecasts run into a contradiction: bitcoin, ether and other digital assets have been clearly following the trajectory of the movement of American stock exchanges for several years now. This is confirmed by statistics. And there is no doubt that a new round of the global crisis, rising inflation, tightening of the monetary policy of central banks around the world will lead to lower indices. This means that cryptocurrencies will also decline, losing their value, and the capitalization of the crypto market, which has already decreased by almost three times from the highs of last year, will collapse even more.

Therefore, with all the desire, it is impossible to predict bitcoin at the level of $100,000. The maximum that the currency can show until January 2023 is $30,000. And then, if there are clear positive signals for this, for example, the Fed will declare victory over inflation (which is unrealistic), or the world economy will go up (also problematic). The main positive for bitcoin will be that it will not show a decline to $10,000. But such a scenario is also possible, depending on external circumstances.

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Source: Cryptocurrency

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