The general cryptocurrency market has been through difficult times since last year November, after it set all-time high records. Notably, Bitcoin traded at $68,789 before falling to below $20,000 last month.
The General Cryptocurrency Market Cap has dipped and maintained below $1 Trillion, sitting at $939,335,047,901. This is a notable fall from its all-time high of $3.08 Trillion in November 2021.
Bitcoin also is still struggling with its market cap below $400 Billion, while Ethereum is at $148 Billion. There’s been massive daily liquidation from traders, crypto-based projects, and firms. Yet, it seems the bottom isn’t anywhere close.
Bitcoin End Year Price Prediction At $25,473
According to data released by Finder’s panel of fintech specialists, the price of the top cryptocurrency, Bitcoin, is projected to end the year at $25,473.
Notably, Finder’s panel constitutes 53 cryptocurrency and Web3 industry specialists.
With 77 percent of the panelists agreed that the cryptocurrency market is now experiencing a “crypto winter.” The founder of Ethereum, Vitalik Buterin, foresaw this and publicly admitted that the cryptocurrency market is currently experiencing a crypto winter and that a rebound is a long way off.
According to 70% of the panelists, increases in global interest rates are the main cause of the cryptocurrency meltdown.
The historic Terra LUNA’s collapse, on the other hand, is what led 68% of the panelists to judge the current situation as ‘crypto winter.’ Then, 47% think that central banks’ tightening of their balance sheets is also a contributing element, while 40% think that rising inflation is to blame.
Only 29% of market analysts believe a recovery will occur this year, while 46% predict it will last until 2023 and 24% predict it will last until 2024.
Meanwhile, the panel didn’t stop there as it also predicted that BTC would definitely reach $35,484 in 2022. However, it will also plummet to a bottom price of $13,676 at some point this year.
Further predictions from the panel reveal that BTC would be priced at $106,757 by 2025 and $314,314 by 2030.
Bitcoin Makes Baby Steps Recovery
Earlier today, the market turned green as Bitcoin climbs above the $20k mark and proceeded to trade around $20,900. This has resulted in so many other altcoins following the uptrend move. Ethereum also is comfortably trading at above $1,200.
Some notable altcoin increase leading the market includes NKN with over 45% price increase, trading at $0.12. DYDX is trading above $2 with a 24% increase, while 1INCH has 18%, AAVE at $92 then, and SOL at $38 with a 13% increase, according to data from Coinglass.
While there are many arguments regarding what and when the bottom for Bitcoin price would be, it’s advised to steer clear of the market, except if you’re trained enough on how to survive a bear season or the “crypto winter” season.
Alternatively, you can switch over to making stocks investment as most of those assets are currently at a massive discount.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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