HomeCryptoBitcoinBitcoin prediction 2022: it will reach $90,000

Bitcoin prediction 2022: it will reach $90,000

Finder.com interviewed 33 fintech specialists, including CoinFlip founder Daniel Polotsky, University of Canberra senior lecturer John Hawkins and Vanessa Harris, Chief Product Officer at Permission. Thanks in part to these interviews, they created and published the Bitcoin Price Predictions Report, according to which the price of BTC could cross the $90,000 threshold during 2022, and close the year around $76,360.

The prediction on Bitcoin in 2022

In the short term, however, neutral or bearish forecasts prevail, particularly with regard to next week. 

The interesting thing is that compared to six months ago, the long-term forecasts are now much less optimistic. 

Taking 2025 as a reference point, in July 2021 the same panel predicted an average price of $265,000 by the end of 2025, which had already been reduced to $206,351 in October. Now that forecast has dropped to $192,800. 

Instead, to be precise, the maximum average peak predicted by the panel for 2022 is $93,717. 

The reason for the increased caution would seem to be related to the potential interest rate hikes announced by the Fed for 2022, which have led the panel to be more cautious than in recent months.

Bitcoin forecasts
The Fed’s choices will weigh on the price of BTC

The influence of the Fed

Then again, just yesterday the Fed announced that it may soon be forced to raise rates, and the reaction of Bitcoin’s price was almost immediate. 

The executive director of crypto hedge fund ARK36, Mikkel Morch, has studied this correlation, and he says:

“Digital assets, including Bitcoin, tend to become more correlated with stocks during stress periods when most of the investment markets go risk-off. Unsurprisingly, then, the crypto markets moved almost in tandem with the stock market following Fed’s Chair Jerome Powell’s press conference in the aftermath of this month’s FOMC meeting”.

Morch notes that the markets’ initial reaction to Powell’s words had actually been positive, as they had expected a more aggressive stance from the Fed. But the accommodative Powell of the beginning of the conference was then succeeded by a more somber and apparently worried Powell, so much so that the bearish sentiment of the last few days was reawakened. 

Furthermore, he points out that, although the situation does not yet justify real upheavals on the stock market, Powell admitted that the Fed is willing to let the markets fall further in order to maintain its commitment to the fight against inflation. 

For these reasons, sentiment in the short term is in no way bullish, although it is bullish in the medium and long term. 

 

Marco Cavicchioli
Marco Cavicchioli
Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".
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