Bitcoin (BTC) continues below $ 47K and volatility has dropped considerably over the past few days. The cryptocurrency appears to have found strong support above $ 46,500 and is still awaiting the first jump of the year. As of press time, the price of BTC is $ 46,612.
Despite the difficulties of recent weeks and the “extreme fear” that still dominates the sentiment of market investors, specialists are confident that 2022 will be a year of substantial growth for the leading cryptocurrency. If you mimic the performance of 2021, BTC would rise towards $ 85,000, but for some analysts, that is too conservative.
Zach Pandl, co-director of foreign exchange strategy at the US bank Goldman Sachs, assured that the price of BTC could rise towards USD 100K this year. For that to happen, the businessman explained that adoption as a “store of value” should increase even more and gain ground over gold.
Pandl’s expectations are aligned with those of other market leaders such as the president of El Salvador, Nayib Bukele, who also sees a horizon of USD 100K for 2022. Other figures like MicroStrategy CEO Michael Saylor are even more optimistic and believe that the leading cryptocurrency will hit $ 600K.
All the main cryptocurrencies on the market fell today, although without major movements. Ether (ETH) and Litecoin (LTC) are down 1% and trade at $ 3,814 and $ 148 respectively.
On the other hand, Binance coin (BNB), Cardano (ADA), and XRP are down less than 1% and stand at USD 512, USD 1.33, and USD 0.82. Solana (SOL) was the one that fell the most among the main ones, with a decrease of 2%, and its price is USD 168.