Evolution of the global digital economy: Compilation of expert predictions on Bitcoin prices and goals for 2022-2025-2030

Bitcoin defied the negative outlook on its fortunes on Tuesday 21 Jun, triggering a surge in the price of the alternative currency.

The world’s largest cryptocurrency rose above $21,000, seen by investors as a key benchmark, after falling the last week (13-19 June) below $20,000, its lowest price since 2020.

Now the question is: will the good run continue or is it just a small step in a downward spiral? Let’s see where analysts and forecasters see digital currency trading in the future.

Antecedents

As a market leader and trendsetter, Bitcoin has been struggling with uncertainty and volatility since early 2022. However, the crypto leader is still far below its peak of $3 billion (€2.86 billion) registered in November 2022.

The consensus view among experts is that, like other assets, the current state of the cryptocurrency market is framed by fear in the face of a host of uncertainties. Such as the Russian invasion of Ukraine, the highest inflation in a decade, rising interest rates and commodity shortages. Even without the uncertainties, the fade in 2018 after the 2017 bull market was worse in terms of price declines than what the market has experienced this time around, so if comparable, this downturn could get worse. On the other hand, the cryptomarket is now more mature than it was in 2018.

And as there are as many opinions as there are people, there are also those who are optimistic about the digital economy.

Bitcoin (BTC) price per day from October 2013 to 22 June 2022 (in US Dollars)

Source: Statista 2022

Starting point: current situation 22 June

Both bitcoin and ether, the world’s second-largest cryptocurrency by market capitalisation, which is backed by the Ethereum blockchain, were up more than 3% in the morning on 21 June and around 5% in the afternoon, according to Coinmarket.datos.com.

Short-term forecast for bitcoin

Rising inflows of bitcoins on exchanges indicate that the market could remain bearish in the near term as holders sell their coins.

Analysis of the BTC price conducted by the  Blockware showed that the currency is approaching oversold territory. This may indicate a short-term bottom. “After being cautious in this letter about breaking below $53,000, of course, we are now far from the short-term cost basis level that we consider as a momentum threshold,” it said in a bulletin.

“We are in the $20,000 to $30,000 “value zone” that we have been describing for weeks and therefore feel that now is the time to nibble for long term investors. However, despite seeing some short term relief and bottoming locally, we also believe we are approaching the generational cyclical bottom.”

Blockware adds that BTC is approaching the 200-week moving average, set at $22,000. The analysis concluded: “We are not calling the absolute cyclical bottom *yet*, but we are getting awfully close and expect these levels to look like great buys looking back in two to three years. The biggest tail risk to this thesis remains macroeconomic uncertainty, with the possibility of an equity correlation-driven capitulation, as BTC has never been present in a major downturn. While this is a logical thought process, one must wonder if this time is different, or will the confluence of signals that BTC has bottomed be enough to make a probabilistic decision based on historical data.”

Blockware’s calculations of bitcoin mining and network distress at different price points indicate that if the market continues to fall, some miners could leave the network with the price of BTC below their break-even points. This could result in a capitulation of miners, which normally marks the minimum price of BTC.

Bitcoin’s long-term projections

Bitcoin analyst Jan Wüstenfeld expects Bitcoin’s correlation with stocks to continue to drive price direction. Writing in a report: “While the stablecoin that exploded last week might have felt to some that the world of cryptocurrencies is ending, for bitcoin fundamentally not much has changed. Bitcoin is still on solid footing and long-term holders are not panic selling. The high correlation with tech stocks, in particular, continues to hold and may even be increasing. With the Federal Reserve determined to fight inflation by raising interest rates and shrinking its balance sheet, further declines or at least sideways movements are likely for financial markets and Bitcoin.”

Bitcoin price predictions: targets for 2022, 2025 and 2030

WalletInvestor‘s 2022 bitcoin forecast was bullish on 19 May. It anticipated that the currency could recover to $44,011.60 by the end of the year and rise to $63,848.90 by the end of 2023. By the end of 2024, the price of BTC could rise to a new high of $83,183.70 and in 2025 the coin could trade at $102,726.00, the website’s algorithm indicated.

The DigitalCoinPrice BTC price forecast said the coin could average $38,920.50 in 2022, rising to $43,448.61 in 2023 and $57,756.64 in 2025, according to historical data. The site predicted that the upward price trend could accelerate later in the decade, with BTC reaching $135,822.91 in 2030.

PricePrediction forecasted Bitcoin’s price to average $38,288.89 in 2022, but projected that Bitcoin’s future price would recover and reach new highs much faster. The site’s in-depth AI-assisted technical analysis projected that Bitcoin could average $54,570.32 in 2023 and reach $124,520.58 in 2025, reaching a target price of $798,474.46 in 2030.

CoinPriceForecast  still expects bitcoin to reach $47,802 by the end of 2022 and $90,545 by the end of 2025, reaching $132,902 by the end of 2030.

Key points

• The direction of the bitcoin price for the rest of 2022 will depend on the performance of equity markets as well as the fundamentals of cryptocurrencies.
• Analysts have long pointed to $100,000 as BTC’s long-term price target. As of 19 May 2022, forecasting sites, including PricePrediction and DigitalCoinPrice, continue to estimate that the price will reach that level in the next few years.

The information presented in this article is part of a larger body of research. Expert opinions have been verified and published in various specialised media. However, when looking for bitcoin price prediction for the future, keep in mind that analysts and algorithm-based forecasters can be wrong. Their expectations for BTC are based on fundamental and technical studies of the cryptocurrency’s past performance. Past performance is no guarantee of future results. Therefore, if you are considering investing in cryptocurrency tokens, including BTC , we recommend that you always do your own research. Consult the latest market trends, news, technical and fundamental analysis and expert opinions before making any trading decisions.