The Bitcoin price has struggled in the past two months. It has fallen by more than 30% from its all-time high. And as shown in the chart below, the BTC price is slightly above the key support level of $45,600 where it has struggled moving below recently. In this article, we will look at some of the top Bitcoin price predictions for 2022 from leading experts.
Bitcoin price to rise to $100,000
Some blockchain analysts believe that the BTC price will continue the bullish momentum this year. For example, on Tuesday, a co-founder of NEXO, the blockchain lending and investment company, told CNBC that Bitcoin will soar to $100,000 this year.
He cited the growing interest among institutional investors and the fact that interest rates will remain low for longer. He also said that more countries will embrace Bitcoin following the lead by El Salvador. You can watch the interview below.
He is not alone. In a note to investors, Goldman Sachs analysts said that the Bitcoin price could rise to $100,000 in 2022 citing its store of value characteristics. The analyst said:
“Hypothetically, if Bitcoin’s share of the ‘store of value’ market were to rise to 50% over the next five years (with no growth in overall demand for stores of value) its price would increase to just over $100,000, for a compound annualized return of 17-18%.”
In a separate note, the president of El Salvador, Nayib Bukele, also predicted that Bitcoin price will rise to $100k. Similarly, Mike McGlone of Bloomberg sounded optimistic about Bitcoin, saying:
“Renewed impetus from the Federal Reserve to take away the punch bowl, and declining bond yields may point to a macroeconomic environment in 2022 that favors top cryptocurrencies bitcoin and ethereum.”
Not all are convinced
While many investors are bullish about Bitcoin prices, some analysts are a bit skeptical about the cryptocurrency.
For example, in an interview with CNBC, Carol Alexander of Sussex University predicted that the BTC price could crash to $10,000 in 2022. She cited potential regulations as catalysts for the bearish view. She is bullish on Ethereum, Solana, and Polkadot.
She is not alone. Todd Lowenstein of Union Bank said that Bitcoin will have a sharp pullback this year, saying:
“Without question, Bitcoin’s price chart appears to track many historical asset bubbles and busts and is carrying a ‘this time it’s different’ narrative just like other bubbles.”
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