When the price of bitcoin (BTC) touched its all-time high above $ 68,800 during the first days of November, the bullish predictions for each year-end took hold. Many ecosystem analysts and commentators claimed that BTC would hit $ 100,000 by 2022. The cryptocurrency, however, had other plans.
The failures of the predictions made it clear that the crypto market is not an exact science, but is the result of a multiplicity of factors impossible to foresee: fluctuations in the macroeconomy, market reaction to geopolitical issues, investor sentiment, investments. Of big companies and so on. However, this does not mean that there will be no predictions.
A historical factor, a pattern of behavior, a technical analysis. There is always something from which to forecast a possible BTC price journey, and so did the Coincodex and WalletInvestor platforms . They didn’t take the same data anyway, and while the former believes that BTC will drop in 2022, the latter is confident that it will exceed $ 80K.
According Coincodex, 7 out of 10 BTC investors are in “bearish “, with a downtrend on the price of BTC. The data has some support, since the present of the cryptocurrency is not encouraging at all and it has been down for four weeks. But a year is a long time, and even longer in this market.
In 2021 alone BTC experienced two rallies towards all-time highs and two 50% corrections. Tesla’s big investment, US stimuli, environmental concerns about crypto mining, China’s ban, adoption as legal tender in El Salvador, or so many others. Recent experience has shown that a year can be a roller coaster ride for digital assets.
WalletInvestor, for its part, noted that BTC can scale to $ 81,000 in one year. If 2021 ended today, this prediction would mean an annual growth of 55% by 2022, much less than this year.
Analysts – or at least most – prefer to cling to the second story, and take the present of BTC as a hardly repeatable opportunity to make new investments.