Bitcoin’s recent surge from $21,000 to a high of around $25,000 has generated a lot of buzz in the crypto world. Analysts and investors alike are closely watching the market as Bitcoin takes a break from its rapid ascent. However, Dutch analyst Michaël van de Poppe, known as Cryptomich, is convinced that the current pause is only temporary and that the value of Bitcoin will soon hit $30,000. Meanwhile, banks are showing less and more interest in crypto, adding to the unpredictability of the market.
Bitcoin is heading into the weekend after a solid week, with its value increased by about 40 to 50% since the beginning of the year. Many believe that the recent deal Binance made with the SEC, and a short squeeze by some Bitcoin whales are to thank for the 8% one-day jump on Wednesday. Despite this positive momentum, van de Poppe cautions that there may be a brief period of consolidation before the jump to $30,000.
Van de Poppe isn’t the only analyst predicting a bright future for Bitcoin. Crypto Ed, another well-known Dutch analyst, agrees that Bitcoin is on the path to $30,000. Moreover, Galaxy Digital Holdings CEO Mike Novogratz believes that Bitcoin could reach $30,000 or above before the end of March. At a Bank of America conference Novogratz stated that he would have been the “happiest guy” if Bitcoin ended 2022 at $30,000.
According to Ruadhan O, the creator of Seasonal Tokens, the current low price of Bitcoin can be attributed to the market pricing in possible impending catastrophes. However, O believes that market sentiment will change by the end of the year, leading to a rediscovery of Bitcoin’s scarcity. In line with this sentiment, a panel of experts, including Alexander Kuptsikevich, a senior market analyst, predicts that Bitcoin price will reach $77,492 by 2025 and $188,451 by 2030. Although Kuptsikevich expects careful price recovery in 2023, he believes a real FOMO market will only occur in 2024-2025.
According to a recent survey by Finder, 50% of the panel believes that now is the time to buy Bitcoin, with only 37% recommending holding and 13% recommending selling. However, a fifth (21%) of the panel predicts that institutional investors will pull out of the crypto market for other asset classes this year due to the recent market crash and FTX collapse. Despite this, the majority of the panel (75%) disagrees.
As Bitcoin continues to make headlines and analysts offer their predictions, it’s clear that the future of cryptocurrency remains uncertain. Nevertheless, many are optimistic about Bitcoin’s future potential. They believe that it will continue to play a significant role in the world of finance. Plus, if you’re looking to buy Bitcoin, B2Cash’s Prague office would be a great choice. They offer a variety of cryptocurrencies and a secure and user-friendly buying process, paired with a personal touch. So try it out when you have a chance!