Experts Say Bitcoin Could Hit $100,000 In 2022. Here’s What Investors Should Know
Categories: Crypto News US
It’s been a rocky start to the year for Bitcoin, but experts still say it will hit $100,000 — and that it’s more a matter of when, not if.Bitcoin’s price is back up and holding steady near $41,000 Wednesday, as investors wrestle with concerns over rising inflation, geopolitical tensions, and the possibility of tighter monetary policy by the U.S. Federal Reserve. The crypto market has increasingly tracked the stock market in recent months, which makes it even more intertwined with global economic factors, such as those stemming from Russia’s war in Ukraine. Minutes from the Fed’s March meeting showed its plan to shrink its balance sheet by $95 billion each month to combat inflation. Additionally, the latest inflation report showed that consumer prices rose 8.5% in the year through March.With no end in sight, the war, inflation, and shifting monetary policy in the U.S. will likely continue to drive more volatility in the coming weeks and months, experts say. Bitcoin has only been above $45,000 for a few short stretches over the past four months, and hasn’t been above $50,000 since Dec. 25, 2021. Amid the ups and downs, Bitcoin’s current price is a long way off from the latest all-time high it hit in November, when it went over $68,000. But even with the recent decline in price, Bitcoin is still more than twice as valuable as it was just a couple years ago. For Bitcoin, these kinds of ups and downs are nothing new. Unfortunately, Bitcoin’s price is extremely difficult to predict and even more susceptible to market factors than more established asset classes. But we decided to ask some experts for their best guesses anyway. Here’s what they said: Bitcoin Price Predictions It was easy to predict a $100,000 Bitcoin price late last year, coming off its latest all-time high in November. With Bitcoin’s big fall since then, the prediction game is even trickier.The most extreme crypto skeptics say Bitcoin will tank to as low as $10,000 in 2022, but a middle ground might be to say the cryptocurrency can still climb to $100,000 like many experts predicted late last year — just on a slower timeline. “The most knowledgeable educators in the space are predicting $100,000 Bitcoin in Q1 2022 or sooner,” Kate Waltman, a New York-based certified public accountant who specializes in crypto, told us back in November 2021.Many experts are hesitant to predict a number and a date, but rather point to the trend of Bitcoin increasing its value over time. Investors should expect a “pretty sustainable” rise in Bitcoin’s long-term value driven by organic market movement, with the $100,000 threshold in near-sight, predicted Jurrien Timmer, director of global macro at Fidelity Investments, last October.