Bitcoin, the first and most reliable cryptocurrency, has been around for thirteen years now. Since its launch in 2009, Bitcoin has grown from a small project to a worldwide phenomenon, attracting millions of investors from all over the world.
While Bitcoin is still working on improving its technology and enhancing security, there are already many cryptocurrency projects that have been launched based on Bitcoin's open source code.
However, in 2022, the main question that everyone is asking is: “What will be the price of bitcoin by the end of 2022?”
We do not know exactly what will happen with BTC in 2022, but we can make some predictions based on what happened before.
Bitcoin Price Movement in Recent Years
Bitcoin is still considered one of the most volatile cryptocurrencies on the market today with a high risk factor associated with it.
However, if you want to invest in this digital currency, you should know all about its history so you can make informed decisions about your investments.
The first thing that needs mentioning is that the value of Bitcoin can change rapidly due to various factors such as news reports and government regulations.
There are also some external factors that influence its value such as supply and demand issues which can cause price volatility changes as well (such as selloffs).
According to CoinMarketCap, on 9 January 2021, Bitcoin price increased by 559% compared to the previous year. It took less than one month in 2021 to reach the highest price record set in 2020.
The price of BTC soared to US$ 40,000 as of 7 January 2021. Sadly, it reached its lowest point at US$ 29,000 on 19 July 2021. The price of BTC dropped by 50% around June and August 2021.
By September 2021, however, the price rebounded to US$ 52,693. Bitcoin hit another all-time high over $68,000 in November, but by January 2022 had dropped back below $35,000. This almost erased the previous gains of the previous year as it hovers around $20,000 as at the time of this writing according to CoinMarketCap.
Analysts predict BTC price by December 2022
Experts have different opinions about what will happen to the price of Bitcoin. Some say it will hit US$ 100,000 within a few months, while others think its value will continue to fall over the next few years.
Based on a prediction by TechNewsLeader the price of Bitcoin will rise to around US$ 42,664 by 2022.
Meanwhile, DigitalCoinPrice predicts a slightly higher end-of-year price for Bitcoin than TechNewsLeader at US$ 43,011.
Experts’ Prediction of Bitcoin Price in 2023
According to CryptoNewsz, Bitcoin (BTC) will likely exceed US$ 70,000 in 2022 and into the beginning of 2023. Meanwhile, experts predict that the highest price of BTC will reach beyond US$ 72,000 in 2023.
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There are as many predictions as there are analysts charting the future of cryptocurrency.