For top cryptocurrencies such as Bitcoin (CCC:BTC-USD), today has been one heck of a day. Nearly the entire crypto market is seeing double-digit declines. Bitcoin has dipped well below $40,000 per coin, now trading at around $38,400. Accordingly, Bitcoin price predictions are gaining a lot of attention right now.
Now, there are many reasons why Bitcoin and its cryptocurrency peers are declining so harshly today. Among the most central reasons for Bitcoin’s decline has been increasingly bearish sentiment building across risk assets. Interest rate hikes that have been signaled by the Federal Reserve indicate that the dovish monetary policy we’ve seen may be coming to an end.
For risky stocks and speculative cryptos, that’s not a good thing.
However, many point to Bitcoin as a market hedge. This coin is supposed to be digital gold, immune to market movements. Some, including Cathie Wood, have pointed to Bitcoin as a negatively correlated asset to stocks.
However, this safe haven status sure isn’t playing out today. Forced liquidations among Bitcoin futures surged to more than $250 million over a 12-hour period. That’s a remarkable level, and one that has some investors concerned about the role leverage could play in amplifying the downside with some of these key cryptos.
That said, let’s dive into where the experts think Bitcoin could be headed.
Bitcoin Price Predictions
For context, BTC currently trades at $38,400.
- Famed growth investor Cathie Wood recently put a 2026 price target of $560,000 for Bitcoin.
- Nexo managing partner Antoni Trenchev has a $100,000 price target for BTC by June 2022.
- WalletInvestor forecasts Bitcoin could hit $72,462 in one year and $190,253 in five years.
- Guido Buehler, the chief executive of Swiss digital asset bank Seba, has a valuation model which suggests Bitcoin is worth between $50,000 and $75,000 right now.
On the date of publication, Chris MacDonald 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.
