Bitcoin Price To Hit This Potential High By The End Of 2022? Experts Weigh in

Bitcoin Price To Hit This Potential High By The End Of 2022? Experts Weigh in

BTC price

The post Bitcoin Price To Hit This Potential High By The End Of 2022? Experts Weigh in appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The king cryptocurrency- Bitcoin- has been hovering around the $20,000 price level for two months. 

Now, investors and traders are anxious to see whether Bitcoin will reach a higher level anytime soon. 

While the global crypto market is all set to step into September, there is speculation about Bitcoin hitting $30,000. This was a price point put forward by several analysts a few weeks before as well before the bears came to power again. 

At the moment, Bitcoin is changing hands at $20,819, with a drop of 0.45% in the last 24hrs.

One of the crypto analysts, CryptoYurii, believes that the present price movement of Bitcoin could be due to the Wyckoff pattern, which will push Bitcoin price towards $30,000 by September 2022.

This pattern is a technical indicator that suggests that there might be a bullish trend in the days to come.

Whenever there is a Wyckoff movement, the market witnesses an accumulation phase, which is promptly followed by a colossal breakout. Post that, the currency enters the distribution phase before submitting to the bears yet again. 

A Spectrum Of Opinions

It’s noteworthy to note that the community forecasted a price of $36,668 by July 31 based on the aggregate of 28,319 opinions. 

The industry’s forecast for August 31, 2022, is that the flagship currency will sell at $34,179, a $13,563 rise over the asset’s current valuation and a 65.79% gain.

On the contrary, the majority of 53 analysts in the crypto and Web3 sector predict that in 2022, the value of Bitcoin will fall to an annual bottom of $13,676 before actually rising to end the year 2022 at $25,473.

Even towards the close of 2022, fintech specialists are not optimistic about Bitcoin’s worth. 

Only 29% of participants believe that the bear market could end in 2022, while 77% believe that the industry is currently experiencing a “crypto winter.”

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