Bitcoin Price Predictions: Where Will BTC Go Next Amid Crypto Crash?

Bitcoin (BTC-USD) is trading slightly over $33,000 after hitting its lowest level since July 2021 earlier today. Since Thursday, May 5, the cryptocurrency has lost about 18% of its value, and it has tumbled more than 50% from its top level of nearly $69,000, a high point that was set last November. Nonetheless, most longer-term Bitcoin price predictions by crypto publications and analysts remain bullish.

man in glasses holding a coin that has the Bitcoin (BTC-USD) logo
Source: Shutterstock

Bitcoin’s sharp, recent decline is being blamed largely on the retreat of stocks over the last several trading days. According to The Wall Street Journal, most of the trading in crypto is now being carried out by professional investors who see crypto as a “risk asset.” As a result, “the [crypto] market has increasingly moved in tandem with traditional markets,” The Journal stated.

On the other hand, for months, I’ve predicted that the withdrawal of stimulus by the U.S. Treasury and the Fed would cause the value of cryptocurrencies to tumble.

But conversely, many crypto publications and pundits remain very bullish on Bitcoin. With that said, let’s take a look at the latest Bitcoin price predictions.

Bitcoin Price Predictions: What’s Next for BTC?

  • DigitalCoinPrice expects Bitcoin to jump to $43,o00 in December and nearly $54,000 in June 2023.
  • Analyst Matthew Hyland, described as a technical analyst and blockchain data analyst, still thinks that Bitcoin can hit the $100,000 level this year.
  • Gov Capital predicts that Bitcoin’s value will exceed $69,000 in one year.
  • Wallet Investor forecasts that the crypto will trade for nearly $55,000 in a year.

On the date of publication, Larry Ramer did not hold (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.

Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been GE, solar stocks, and Snap. You can reach him on StockTwits at @larryramer.


Article printed from InvestorPlace Media, https://investorplace.com/2022/05/bitcoin-price-predictions-where-will-btc-go-next-amid-crypto-crash/.

©2022 InvestorPlace Media, LLC