The price of Bitcoin is resuming and this gives very optimistic forecasts. A crypto-analyst expects the price of bitcoin to reach $ 120,000 by 2022 (about $ 109,000). With this statement, he refers to the three previous cycles of the Bitcoin course.
Bitcoin price will increase enormously
Twitter users Crypto Wolf Predicts a bright future for the Bitcoin course. According to him, the price will be 40 times higher than in December 2018. He holds a prize of $ 120,000 in 2022 for possible.
The cycles in which the Bitcoin price evolves would always take longer. During the first cycle, Bitcoin achieved a record price in one year. The second highest price was reached after 735 and the third after 1,071 days. CryptoWolf thinks it will take 1,400 days up and down this time. According to him, Bitcoin will reach a price of 120,000 US dollars until then.
After that, another bear market could follow. This is characterized by the fact that the price gradually loses value over a long period. According to him, the price could then drop up to $ 50,000.
CryptoWolf is not the only expert to think that the price will increase significantly. For example, Tim Draper expects Bitcoin to exceed $ 250,000 in 2023. John McAfee also predicts new records for cryptocurrency. According to him, bitcoin could be worth a million dollars by the end of next year.
Even the cryptography expert PlanB suspects that the price will rise. However, it is due to the so-called Model "Stock to Flow" not as optimistic as others. For years, the digital piece would follow this pattern. He thinks Bitcoin could reach $ 10,000 by the end of the year.
The model referred to in PlanB is based on the Bitcoin block halving. Every four years, the number of new Bitcoins is halved. This event has always had an impact on the price of money in the past. The next halving should take place next year. It remains to be seen whether this will really affect the course, as the experts want.
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Corinna is the editor-in-chief of Coinwelt. Since 2016, his world is based around crypto-currencies and blockchain. No day goes by without Corinna being bored for not investing in Bitcoin the first day. She finds the international legal situation particularly interesting for currencies such as Bitcoin. For the future, she hopes for a positive attitude from lawmakers and clear laws on the treatment of digital parts.