Bitcoin Predictions for 2022: What to Expect
If you were paying any attention to the crypto markets at the start of 2022, you probably spent the whole of January glued to your seat observing the dramatic falls and first signs of recovery. But now the market is showing signs of stabilizing, you might be wondering what the rest of the year will hold. Especially when it comes to the biggest cryptocurrency of all—what are the experts’ bitcoin predictions?
If we could predict the future, we’d probably be sipping margaritas on a tropical island and living off the profits of buying just the right crypto at just the right time. Unfortunately, that’s not the case. But although we can’t tell you what the cryptocurrency market is going to do in the future with 100% certainty, we can certainly look at the bitcoin predictions for 2022 made by various experts in the field. Good enough, right?
After cryptocurrency prices enjoyed a huge surge toward the end of 2021 followed by a major crash in January 2022, everyone has been throwing their hat into the ring about what will come next. Yet as you’ll soon see, it’s fair to say that there’s some differences in opinions.
If you’re reading this, you probably don’t need us to tell you that bitcoin was the world’s first cryptocurrency or that it was introduced as an alternative to fiat currency. At this point, even your grandparents probably know that. However, it’s worth recapping how bitcoin became a trillion-dollar success story to give you a little perspective.
The whitepaper for Bitcoin was published back in 2008, and the very first bitcoin was mined one year later. Back then, its value was negligible, falling somewhere between $0 and $1. Bitcoin was such a pioneer that it was a foreign concept nobody really knew how to react to; few could have guessed that it would go on to become what it is today.
In 2011, bitcoin finally reached a value of $1, and a few months later, it passed the $30 mark. That might sound like loose change now, but it represented a price increase of around 100% in one year. Imagine selling your bitcoin at that point believing you’d made a tidy profit.
In 2013, things really started to get crazy, with bitcoin starting the year at a price of around $13 and ending it worth more than $1,000. It wouldn’t surpass 1k again until 2017—yet the world watched with awe as bitcoin reached $20,000 by the year’s end.
Fast forward to today, and bitcoin’s price hovers between $40,000 and $60,000. We also have plenty of signs that blockchain technology has cemented itself in the world for good, from the first bitcoin ETF to El Salvador making the cryptocurrency legal tender. But the biggest question of all is: What will happen to bitcoin tomorrow?
Bitcoin predictions for 2022 – the experts’ view
Given that bitcoin has now become almost as mainstream as buying a stock for Google or Apple, it’s only natural to wonder if it’s too late to invest in bitcoin. It’s a question people have been asking since 2017 (or maybe for longer). Even back then, many people thought the crypto market was a bubble that was about to burst any second. Hindsight is everything
Given nobody truly knows what the future holds, the smartest thing you can do is listen to a broad range of perspectives regarding bitcoin future predictions. So, here goes nothing.
First of all, let’s cover some of the challenges bitcoin faces and the experts who believe this could mean bitcoin takes a hit.
Bitcoin has been plagued by regulatory challenges since the beginning, and this trend has continued. The US Securities and Exchange Commission (SEC) recently proposed new rules that would alter how it treats exchanges, along with other changes. Plus, despite a bitcoin futures ETF going forward, attempts to launch a bitcoin spot ETF (which would track bitcoin directly rather than through futures contracts) haven’t seen the same success.
The SEC has rejected applications from various would-be providers, including Grayscale Investments.
Another concern is that there are now many emerging cryptocurrencies that could take bitcoin’s place of dominance, such as Solana and Avalanche—these are increasingly receiving attention since they’re key for smart contracts and therefore NFTs.
Plus, some experts still believe bitcoin and cryptocurrencies lack fundamental value and are purely speculative assets, making them vulnerable to crashes and likely to tumble further in 2022.
Yet despite these potential hurdles, most experts seem to be optimistic about bitcoin’s future. 2021 was a year when bitcoin earned mainstream acceptance from traditional banks (such as Goldman Sachs), which many believe is a sign that it’s far more than just a speculative asset.
As a result, many believe the approval of a spot bitcoin ETF is a real possibility for 2022.
Bitcoin took a hit at the start of 2021, but it appeared to recover quickly. Some experts believe this means that the greatest risks it faces—such as rising inflation harming speculative assets—have already been accounted for in bitcoin’s price.
Although other next big cryptocurrencies in 2022 are increasingly getting attention, bitcoin still has the first-mover advantage. Currently, the prices of most other cryptocurrencies follow the price of bitcoin, a trend we can observe in every boom and crash so far. As things currently stand, bitcoin is still the one to watch.
One factor that significantly impacts bitcoin’s price is its scarcity—demand is increasing as bitcoin becomes more mainstream, yet there’s a limited supply available. So, in theory, its price should continue to increase.
A common prediction is that bitcoin will hit $100k eventually, maybe even by the end of 2022. Even those who don’t think this could happen in 2022 believe it’s a matter of “when” and not “if.”
However, the opinions of these experts are blown out of the water by even more optimistic predictions. Some believe bitcoin’s price could rise exponentially, going beyond $100k and maybe $150,000 sometime soon.
JPMorgan predicted in early 2021 that bitcoin would rise to $146,000 over the long term and compete with gold as a safe haven asset, while Bloomberg pointed to a long-term value of $400,000 (also in 2021). Admittedly, the landscape has significantly shifted toward altcoins since these predictions were made.
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