Digital currency is leveling up today. After being lulled to sleep over the course of the last two months, the asset class is on the move back upward. Of course, leading the charge into a second bullish wave in 2021 is the monolithic Bitcoin (CCC:BTC-USD), whose value dwarfs its contemporaries. The coin is seemingly back on track after the market correction. Now, what do Bitcoin price predictions seem to think of BTC’s future value?
A slew of bad news leveled the crypto asset class just a couple months ago. Elon Musk slammed Bitcoin’s energy consumption and removed it as a Tesla (NASDAQ:TSLA) payment option. Meanwhile, the Chinese government began cracking down on crypto mining operations on its soil and is looking to harshly regulate it. These instances were enough to drive prices down and keep them down; Bitcoin, which reached highs of nearly $65,000 just months ago, tumbled far enough to completely erase its 2o21 gains of over $25,000.
With rumors swirling of the crypto becoming an Amazon (NASDAQ:AMZN) payment method, not only is Bitcoin up, but cryptocurrencies at large are booming. BTC has gained over 14% on a single day of trading, its largest climb in over a month.
Bitcoin Price Predictions: Is the Amazon Rumor a Turning Point for BTC?
These rumors are enough to spur a very bullish day, but is it enough to completely refuel the Crypto Express? That remains to be seen. Bitcoin is on the verge of an important test at the $40,000 mark. If it can break this barrier, it could be considered the turning point for a bullish run in the second half of the year.
Where might investors expect Bitcoin to go from here? Let’s look at some Bitcoin price predictions:
- WalletInvestor has bullish prospects for BTC going into 2022. The outlet’s 12-month prediction forecasts a new all-time high for the coin in July 2022 at $64,943.
- Meanwhile, the Economy Forecast Agency thinks that in the same timeframe, Bitcoin can blow its previous high out of the water. Their July 2022 prediction foresees a $79,920 high for the coin.
- Gov Capital’s price isn’t as bullish as its peers, although it is still predicting large gains. The outlet suggests a price of $54,501 for BTC by next July.
- Forex Crunch is updating its BTC price prediction in the wake of today’s gains. The outlet thinks Bitcoin could reach a high of $81,000 by the beginning of 2022.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.