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Coinposters

27 Jul 2022

As BTC buying pressure rises, experts predict Bitcoin will hit $106k

Bitcoin has exceeded early proponents’ expectations. Once deemed worthless, crypto has become one of the most promising financial asset classes. Some industry experts estimate Bitcoin to hit $100k in 3 years, according to recent research.

Finder’s Panel predicts Bitcoin’s (BTC) short- and long-term performance. The panel of 53 industry experts predicts BTC will reach $106,757 by 2025, or 468 percent of its current price of $21,795.

This projection is positive, but it’s less than half of the Panel’s July 2021 estimate. A year ago, the Panel predicted Bitcoin will reach $256k by 2025.

This change was triggered by the Crypto Winter and ongoing crypto concerns, like LUNA’s bankruptcy and the 3AC controversy. John Hawkins, a senior professor at Canberra University, highlighted inflation and central bank balance sheet tightening.

The panel predicts BTC will fall to $13k this year but reach $35k by year’s end. The panel predicts BTC will end 2022 with over $25,473 and exceed $314k by 2030. Fred Schebesta, the creator of Finder, expects BTC will touch $75k by 2022.

Fearful market. The technology remains robust. Bitcoin is following the economic slump, but Schebesta believes it will recover.

Panelists said global interest rate rises contribute 70% to the current Crypto Winter. They think the LUNA crash caused a space contagion (68 percent ). Inflation was high (40 percent ). Most panelists expect Crypto Winter to endure until 2023.

Panelists encourage investors to buy additional coins. 50% of panelists indicated it’s time to buy, 40% to hold, and 10% to sell.

After the crypto markets’ rebound, the area has a new, hopeful view after the previous month’s collapse. BTC is trading at $21,795 after gaining 10.71 percent in the last week. The Crypto FGI rose to 31 from 11 last month, indicating optimism. The BTC Coinbase Premium Index shows strong US institutional purchasing.

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