Bitcoin dropped from its high of $69,700 and reached the current average price of $19,500. This 72% drop in prices definitely took a toll on investors, especially the ones who did not liquidate. The anticipation for another bullrun started to decrease as prices continue to move in a sideways trend. When can Bitcoin reach 100k again? Let’s try to assess in this Bitcoin price prediction article.
Bitcoin 2022 – Cryptos performed BAD
The performance of the cryptocurrency market in 2022 wasn’t great. The market capitalization of the cryptocurrency industry was over $2 trillion in 2022 and is now about $900 billion. That is an average loss of -55% for most cryptos. The stock market, on the other hand, did not have the best year either.
Additionally, Facebook’s stock fell more than -56% YTD. As a result of its shares dropping more than -50% YTD, Credit Suisse is the buzz of the financial community. Bitcoin has lost almost -60% so far, performing extremely similar to the previous corporations. Since cryptocurrencies were once thought of as a hedge against declining stock prices, investors are still waiting for the dissociation of cryptocurrencies from the equity market.
Will Bitcoin price increase soon?
There is a lot of uncertainty in the crypto market, but also in most markets worldwide. The reason for this is the geopolitical issue in Europe, from war with Russia to economical disasters. To top all of this, it seems like tech stocks are taking the plunge to lower lows.
Bitcoin has been consolidating since June 2022, as its prices stopped dropping lower at the strong support of $18,500. This presents a good buying opportunity in case crypto prices managed to increase after this long sideways trend. However, it is important to place adequate stop-loss triggers in order to liquidate as soon as the bear market takes over again.
Bitcoin Price Prediction 2025 – Will Bitcoin reach 100K?
Unfortunately, the crypto winter took a heavy toll on Bitocin and most cryptocurrencies. It’ll take them a while before they fully recover.
The first aim of Bitcoin is to first redress and go back on its uptrend. This happens after the consolidation breaks. We expect that this should happen sometime in the first quarter of 2023. This consolidation will break once the price of $25,000 is surpassed higher.
The second aim of Bitcoin is to regain its previous all-time high of $69,700. However, according to many analysts, this should happen towards the end of 2024, which is in 2 years’ time from today. When will Bitcoin reach 100K? Well, it should happen sometime in 2025-2026.
