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Long Term Cryptocurrency Predictions – Experts Opinion

BTC is crashing right now, so do you want to know what our expert team says about the long-term cryptocurrency predictions. Despite a difficult start to the year, experts believe Bitcoin will reach $100,000 — and that it is a matter of when not if.

Bitcoin rose again on Friday after plunging considerably earlier in the week in response to June’s hot inflation data release. The largest cryptocurrency was trading at $21,000, up 6% in the past 24 hours.

“The Fed may need to contemplate a full point rate rise at the end of the month, and they may be looking at rate reduction sometime next year,” says Edward Moya, senior market analyst at OANDA. “Bitcoin is a hazardous asset that may profit from Wall Street’s belief that it has fully priced in Fed tightening.”

According to Moya, Bitcoin is exhibiting indications of stabilization, but the market may not be out of the woods yet. Bitcoin has dropped below $20,000 numerous times in recent weeks, and “sellers are avidly monitoring to see if the June lows will hold,” he adds.

The recent crypto market fall in June was triggered by Wall Street’s temporary de-risking, as many investors are worried about the economy in the face of growing inflation, a fragile stock market, and rising interest rates.

In recent months, the crypto market has increasingly paralleled the stock market, making it even more linked with global economic concerns.

Long-Term Cryptocurrency Predictions – Experts’ Opinion

In addition to macroeconomic issues, Martin Hiesboeck, Uphold’s head of blockchain and crypto research, says investors are concerned about the crypto industry’s long-term survival after many prominent firms froze withdrawals, reduced employment, and attempted to stem losses in recent weeks.

However, he claims that the slowdown in the crypto ecosystem is considerably more subject to factors contributing to the terrible economic scenario than crypto pricing.

“The market remains fragile and on edge, not only because of risks from additional crypto projects failing but because of the bad economic circumstances we are now in,”

Hiesboeck explains. “In other words, the price of bitcoin is more affected by the gas supply to Germany than by any crypto-related news or measure.”

With no end in sight, analysts predict that the conflict, inflation, and shifting monetary policy in the United States will create even greater volatility in the coming weeks and months.

Bitcoin has only been above $45,000 for brief periods in the last six months, and it hasn’t been above $50,000 since December 25, 2021.

Despite the ups and downs, Bitcoin’s current price is still a long way from the all-time high it reached in November when it surpassed $68,000.

Despite the current price drop, Bitcoin is still more than twice as valuable as it was only a few years ago. These types of ups and downs are nothing new for Bitcoin.

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Despite the volatility and recent price drop, many experts believe Bitcoin is on its way to crossing the $100,000 barrier, albeit they differ on when that will happen.

In addition, according to a recent Deutsche Bank research, over a fifth of Bitcoin investors think Bitcoin values would exceed $110,000 in five years.

Volatility is nothing new, and it is one of the main reasons experts advise new crypto investors to be extremely careful when committing a portion of their portfolio to cryptocurrency.

Bitcoin’s value has risen steadily over the years, as has the value of every other cryptocurrency on the market. It’s only natural for Bitcoin investors to be inquisitive about how high the currency can eventually rise.

Unfortunately, the price of Bitcoin is exceedingly difficult to anticipate and even more vulnerable to market forces than more established asset classes. Nonetheless, we decided to poll several experts for their best ideas. Here’s what they had to say:

Bitcoin Price Predictions

Coming off it’s last all-time high in November, it was simple to forecast a $100,000 Bitcoin price late last year. With Bitcoin’s precipitous drop since then, the prediction game has become much more difficult.

The most extreme cryptocurrency critics believe Bitcoin will crash to $10,000 in 2022, but a middle ground might be that the cryptocurrency can still reach $100,000, as many experts projected late last year — only on a slower timeframe.

“The most educated academics in the sector are expecting $100,000 Bitcoin in Q1 2022 or sooner,” Kate Waltman, a crypto-focused certified public accountant in New York, told us in November 2021.

However, optimistic analysts are now re-evaluating the crypto business as huge firms such as Nike and other significant brands explore methods to monetize their products in the digital metaverse. The popularity of altcoins is growing as a result of the emergence of metaverse games, worlds, products, and experiences, which has transformed investor perceptions of Bitcoin (known as the original crypto).

Many experts are cautious to estimate a figure and a date, instead pointing to the trend of Bitcoin’s value growing over time. Last October, Jurrien Timmer, director of global macro at Fidelity Investments, forecasted that the long-term value of Bitcoin will climb “quite sustainably” due to organic market action, with the $100,000 milestone in sight.

What Influences Bitcoin’s Price

Like any other currency or investment, the price of cryptocurrency is influenced by normal economic variables such as supply and demand, public mood, the news cycle, market events, scarcity, and so on.

As a new and emerging asset, Bitcoin’s value is influenced by factors other than money or security. Here are a few examples:

Scarcity

There are presently 18 to 19 million Bitcoins in circulation, and minting will cease at 21 million. This inherent scarcity, according to industry insiders, is a key element of cryptocurrency’s attraction.

“There is a set supply but rising demand,” explains Alexis Johnson, president of Light Node Media, a blockchain public relations and events business.

Other analysts argue that Bitcoin has value because individuals place value on it. “That’s basically why everyone’s purchasing — because of the psychological side,” says Nelson Merchan, co-founder of Johnson’s Light Node Media.

As a result, the typical customer may find it difficult to determine if Bitcoin and other cryptocurrencies are authentic. The entire supply and demand paradigm only works when people want something scarce – even if it had not previously existed.

Mainstream Adoption

According to Waltman, one of the key causes fueling Bitcoin’s price surge is the rate at which new users are buying and investigating cryptocurrencies.

Crypto technology is being accepted at a higher rate than humans initially adopted internet technology,” she claims. Assuming it continues, the compounding acceleration of new adoption might continue to push Bitcoin’s value higher and higher.

According to data from the digital asset management business CoinShares, Bitcoin use has been expanding at a 113 percent yearly pace.

(In the meantime, people are adopting the internet at a slower pace of 63 percent.) If consumers embrace Bitcoin at the same pace as they did the internet in its early days (or quicker), the analysis claims that there would be 1 billion users by 2024 and 4 billion users by 2030.

According to CoinDesk, the number of new wallets globally climbed by 45 percent between January 2020 and January 2021, reaching an estimated 66 million.

Coinbase reports that it currently has over 73 million global users, while Gemini just issued its “State of U.S. Crypto Report,” which indicated that 21.2 million Americans possess bitcoin of some type.

Regulation

In recent months, federal officials have made it obvious that they are paying attention to cryptocurrency. One important factor for Bitcoin’s trailing price, according to industry pros, is what crypto insiders regard as “hawkish” government regulation.

Seth Ginns, a CoinFund managing partner, stated in a recent CoinDesk First Mover interview that “the Fed moved to a hawkish position [on crypto regulation] just as Omicron started to tick up in the US,” which could have increased doubt in crypto as a viable asset, resulting in January’s bearish sentiments.

A lot of unsolved concerns surround cryptocurrency regulation. President Joe Biden recently signed an infrastructure bill mandating all cryptocurrency exchanges to report their transactions to the IRS. Similarly, Treasury Secretary Janet Yellen recently stated that stablecoins, a sort of cryptocurrency linked to the value of the US dollar, should be regulated by the federal government.

According to an industry white paper issued by Flourish, a fintech platform aimed at financial advisers, the discourse on regulatory rules is “patchy.” With cryptocurrencies being a relatively new asset class, each new regulation has the potential to affect value.

When China outlawed cryptocurrency in September 2021, for example, the price of Bitcoin fell, though it has since rebounded and resumed its regular volatility.

Even though Bitcoin has already had roughly a decade of precedent, the Securities and Exchange Commission is taking all judgments on a case-by-case basis in what analysts call its “crawl, walk, run” method toward widespread crypto acceptance.