Bitcoin And Ethereum Price Predictions For 2022

Bitcoin And Ethereum Price Predictions For 2022

Adobe/Wit Source: Adobe/Wit The cryptoasset market has had another successful year, with bitcoin (BTC) almost doubling in price year-to-date and the whole crypto market capitalisation expanding from little over USD 750 billion to almost USD 3 trillion.

For bitcoin's part, price increases this year were spurred by significant milestones such as El Salvador being the first government to recognise bitcoin as legal cash and electric vehicle manufacturer Tesla becoming the largest firm to do so to date.

Ethereum (ETH) also had significant positive developments this year, with the adoption of the EIP-1559 update, which introduced a supply-reduction token burn mechanism for the first time, probably being the most significant.

After a successful year in 2021, several experts interviewed by Cryptonews.com believe that 2022 will be even better for the cryptocurrency sector. But as is normal, there is a wide range of viewpoints on the topic.

In order to get a sense of what to anticipate in 2022, we went out to a number of crypto industry professionals and asked them about their price projections for bitcoin (BTC) and ethereum (ETH) in 2022.

The Bitcoin (BTC) exchange rate is around USD 56,250 at the time of writing and has fallen 11 percent in the last month, bringing its gains over the last 12 months to less than 193 percent. Within a month, the value of ETH swings about USD 4,500 and has dropped by over 2% in value. Over the course of a year, it gained 656 percent.

For the year 2022, Bitcoin price forecasts are available.

CoinGecko is the source for this information. Despite the fact that bitcoin holders have not had an easy year, with both rapid rallies and severe declines occuring throughout the year, all of the commentators expressed optimism about the cryptocurrency's price for the next year.

In his forecast, Kjetil Hove Pettersen, CEO of Norwegian Bitcoin miner Kryptovault, predicts that the cryptocurrency market will continue to be turbulent, but that the long-term trend will be higher, and that the entire market value would more than double on an annual basis.

It's possible that we'll see 140k USD or more by 2022, according to my predictions.

While Pettersen acknowledged that it is "difficult to anticipate with any certainty" where the price would move, he also said that technical analysis will not always be effective when external variables come into play.

It is impossible to use conventional [technical analysis] or historical comparisons since there are so many components and external forces at play, according to the Bitcoin miner.

Similarly, Bernardo Schucman, Senior Vice President of Bitcoin miner CleanSpark's Digital Currency Division, was upbeat about the number one cryptocurrency's prospects for the next year.

In light of the large number of Bitcoin mining firms that were established in the United States in 2021, Schucman anticipated that the price of a bitcoin would reach $250,00 per bitcoin by the end of 2022.

As a result of the influx of new miners, he said that they are not just raising bitcoin's hashrate (or computing power), but that they are also "strong holders of the asset."

In addition, Schucman stated that "the last, but very important, key factor to maximise the BTC price increase will be greater adoption of the use of the BTC wallets implemented in social media, such as Twitter." He also stated that Bitcoin's Lightning Network will provide "a tremendous push for BTC mass adoption."

Julian Liniger, CEO of Switzerland-based bitcoin broker Relai, was the most optimistic of the experts we spoke with regarding the next year. He predicted that bitcoin acceptance will reach a whole new level by 2022.

In an interview with Cryptonews.com, Liniger said that "individuals, businesses, and now even governments are increasingly adopting bitcoin, and inflation of fiat currencies is on the increase." "The daily price fluctuations in bitcoin have gone from hundreds to thousands to tens of thousands, and they will finish up in the hundreds of thousands of dollars by 2022," he said.

The coming year, if the CEO of Relai'a is correct, will be tremendously positive for the world's most valuable cryptocurrency, Bitcoin:

According to Liniger, "I believe 2022 will be the year when bitcoin surpasses $500,000."

Following a prediction made in early November by Matthew Hyland, a well-known independent bitcoin on-chain and technical expert, bitcoin might reach USD 250,000 as early as January 2022, but at a significant and quick rise from where the cryptocurrency is now valued at.

Hyland explained his high price forecast by claiming that we have not yet seen enthusiasm on the scale of that experienced in 2017 in the current market cycle, and that this should be expected in "the concluding phase of a bubble."

Just before the market started to correct downward in late November, Hyland predicted on Twitter that "euphoria" would commence when bitcoin reached USD 100,000.

The final cryptocurrency analyst to comment is Simon Peters, who works for the forex and cryptocurrency trading platform eToro. He did not provide a specific price target for bitcoin, but he did say that the cryptocurrency's value tends to fluctuate around the block reward halving cycle, which occurs every four years.

In 2013, 2017, and now in 2021, we've seen a bull market, and we'll see it again. According to the expert, "whereas we had parabolic price rises at the latter part of the 2013 and 2017 bull markets, we haven't seen it yet this year, which means that there may be additional price increases to come before we reach the final high."

Predictions on the price of ethereum in 2022

CoinGecko is the source for this information. Bitcoin and ethereum, like bitcoin, have experienced their fair share of bullishness in the year 2021 thus far.

Despite this, the second-most valued cryptoasset is often considered to be more volatile than bitcoin, and according to several of the professionals we talked with, it is also more difficult to forecast. Therefore, fewer people were prepared to provide firm price estimates for ETH in their comments.

As for where the price of ethereum will be in 2022, Kryptovault's Kjetil Hove Pettersen refused to guess, while also noting that it would likely be "much more volatile than bitcoin," as he put it.

Kryptovault's CEO said that "it is feasible that it may outperform bitcoin," but added that "there is also a lot more danger connected with it, just like with every altcoin."

Meanwhile, eToro's crypto analyst Simon Peters predicted a rise in the price of Ethereum in the coming months owing to a mix of greater demand and reduced supply, but he was unable to provide a specific goal.

As a result of EIP-1559, the analyst predicts that demand from both institutional and individual investors searching for alternative investments, along with a "supply tapering and slowing of new ETH entering into circulation" as a result of the EIP, might result in "a possible price hike" for ETH.

The amount of ETH now in circulation is being locked up in staking contracts, according to him. Moreover, the analyst pointed out, this is in addition to the supply of ETH that is already locked up in decentralised finance (DeFi) apps, as well as a rapidly diminishing quantity of ETH on exchanges.

CleanSpark's Bernardo Schucman was one of many who ventured to propose a more precise objective, predicting that growth in DeFi, as well as a broader trend towards increased tokenization, would propel the asset to new highs in 2022, according to Bloomberg.

Because of the large number of new decentralisation and tokenization initiatives that are gaining popularity in the ecosystem, according to Schucman, the price of ETH will rise to over $20,000.

The last forecast for ETH comes from Bloomberg's Senior Commodity Strategist Mike McGlone, who said in an October crypto market analysis that the cryptocurrency "appears on pace towards USD 5,000, with support around USD 4,000," but with no timeline in mind to back up his claim.

According to the analyst's September crypto forecast, ETH is "gaining traction" due to "diminishing supply" and "growing demand." The prognosis made last month follows optimistic statements made earlier this year by the expert.

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