Bitcoin (BTC) Price Prediction for 2022
Industry News
The cryptocurrency market, specifically Bitcoin, is predicted to grow even more in 2022. Jack Dorsey resigned from his role as Twitter CEO and changed Square’s name to Block to focus on developing products centered on Bitcoin.
According to market analysts, Bitcoin is expected to have a more decisive year in 2022. Vijay Ayyar, vice president of corporate development and worldwide growth at crypto exchange Luno, believes that entrepreneurs will launch the first Bitcoin exchange-traded fund (ETF) in the United States in 2022.
Grayscale has filed to convert its Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF, and many believe that at least one proposal will be approved by the SEC this year.
According to Kate Waltman, Bitcoin is expected to hit $100,000 in the first quarter of 2022, a New York-based certified public accountant who specializes in cryptocurrency. She stated, “The most knowledgeable educators in the sector are expecting $100,000 Bitcoin in Q1 2022 or sooner.”
Bitcoin’s Technical Forecast for 2022
Bitcoin is performing well according to long-term indicators. BTC is trading above its 200-day simple moving average at $47,272. Since Bitcoin is predicted to perform better in the following year, the technical indicators may improve in the coming weeks and months.
By January, the selling pressure from China is likely to subside, and Bitcoin’s price, like the mining hash rate, might be on the rise. Once that happens, the MACD and RSI will be back in the positive region. According to WalletInvestor’s 2022 forecast, Bitcoin’s price could end 2022 trading above the $80k level.
Whatever the case may be, it will be interesting to observe how Bitcoin performs in the following year.
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