We have surely talked a lot about Bitcoin. It is the first cryptocurrency ever, that put the beginning of digital assets more than 10 years ago. Of course, back then it wasn’t worth much. Actually, one of the first Bitcoin transactions was 10,000 BTC for two pizzas. Then, 10,000 BTC was about $40. Well, today, that would be more than $200 million.
Everyone has heard about Bitcoin, even people who are barely interested in cryptocurrencies. Although crypto is not at its best time, with current price of about $20,000, we can not deny that it is well known for its ability to overcome challenges and always have a strong comeback. Even now, experts believe that Bitcoin’s price will go up again, and it will at some point reach a new All-Time High. Of course, there are also people who started to doubt whether Bitcoin is worth investing in.
Let’s see some interesting long-term Bitcoin price forecasts. It is important to say that those are only experts predictions and not financial advice.
Price prediction 2022
Bitcoin has been seen as a great long-term investment asset for the last few years. However, as we already said, its price has dropped significantly since the end of 2021. Despite the huge drop in the price, there are still many high net worth individuals still holding Bitcoin. That means that it is very likely for us to see Bitcoin regain its footing within the crypto market. By the end of the year, it is expected for Bitcoin to reach a price of $32,000. Well, the time will show.
Bitcoin price prediction 2023 and further
There are a lot of elements showing the wide usage of BTC. This is one important factor that should help the cryptocurrency to continue growing over time, and by the end of 2023 it is expected that Bitcoin will be worth $69,000.
Anyway, the current downtrend of Bitcoin has prompted many to speculate that it could be a very undervalued crypto. That’s because Bitcoin remains the most viable cryptocurrency, due to its market capitalization and low volatility. Furthermore, Bitcoin has huge support from the crypto market, as well as from the traditional market. Actually, no other coin has such enormous support, which once again shows the long-term potential of the cryptocurrency.
Of course, the price of Bitcoin will still be driven from both - real world use and speculations.
Bitcoin use cases
One of the primary use cases of Bitcoin is as a payment method. Because of its decentralized network, payments are anonymous, fast and secure. Moreover, no banking fees are associated with the transfer. That is one of the reasons we believe that despite its downtrend, Bitcoin’s price will rise again.
What drives the price of Bitcoin?
Many factors drive the price of Bitcoin, including Social Media Attention, as well as the growth in crypto adoption. Of course, the more use cases it has, the greater the demand for the currency will be. Also, social media is a popular resource when it comes to cryptocurrency news and projects. Bitcoin is the most discussed digital currency on most of the platforms.
Bitcoin is surely an interesting digital currency, and we believe it has a bright future ahead. Anyway, nothing in the crypto world can be said for sure. So, before you jump into making an investment, do a good research, and never invest more than you are willing to use.
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