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Bitcoin Predictions: Why 55 Crypto Pros See BTC Closing in on $80K by 2025

  • Bitcoin (BTC-USD) is trading steadily around the $19,000 mark.
  • While it’s a far cry from its all-time high, the resilience Bitcoin is showing makes it look more like gold than tech stocks.
  • Analysts think a shift is on the horizon which can pave the way for tremendous BTC growth in coming years.
Bitcoin predictions - Bitcoin Predictions: Why 55 Crypto Pros See BTC Closing in on $80K by 2025

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Crypto enthusiasts are experts in positivity, at least when it comes to the future of their holdings. That much is evident in the “buy the dip and hodl” philosophy one might see all over Twitter when the market’s down. And while crypto might be in rough shape as of recent months, there are still plenty of Bitcoin (BTC-USD) faithful making bold Bitcoin predictions for the end of the year and beyond.

The economy is not working in the crypto market’s favor right now. Rate hikes by the Federal Reserve are driving both existing crypto investors and potential investors away from the space. The decline in value they inflict on the stock market usually pushes investors to reconsider strategies. While the first two years of the pandemic have been ripe for speculative trading — especially crypto — this is not the case anymore. This factor, paired with the inflation that’s plaguing the U.S., has investors looking for reliable, safe assets where they can store their value.

These macroeconomic factors aside, the crypto market hasn’t done itself any favors with the disasters it has seen throughout 2022. This year, the floodgates opened for things like hacks to ruin investor trust and shine a spotlight on the glaring security issues crypto still must overcome. And Terra’s (LUNA-USD) meltdown, which initiated the bearish market we see today, demonstrates a sobering reality for investors that even the largest projects aren’t guaranteed to be safe.

Yet through all of this, Bitcoin has remained largely resilient. The king of crypto is hovering reliably around $19,000. Sure, it’s not anywhere close to the $68,000 highs of last year. But, it appears to have reached a bottom. Analysts are now starting to gain a bit of confidence in a coming rally.

Bitcoin Predictions Signal Confidence in Mid-Term Rally

The cards are stacking up against crypto, and Bitcoin prices are down greatly since the start of the year. But, unlike the brunt of other coins, Bitcoin prices have remained surprisingly steady. It seems as though the asset has found its floor while others continue to tumble. Analysts’ Bitcoin predictions are growing more confident in the wake of this revelation. There are dozens who believe BTC is set for a healthier growth phase than ever over the next several years.

CoinMarketCap recently reported on a panel in which 55 crypto analysts gave their opinions on the future of Bitcoin. Crypto investors will be happy to find that these analysts are departing from the glum attitude cloaking the market and expecting a growth phase to occur soon.

Averaging the 55 predictions cast by these analysts, Bitcoin is expected to reach a price of $21,344 by the year’s close. That’s a $2,000-plus gain from the floor it is staying at now. But more interestingly, these analysts expect it to reach a new all-time high in just over two years’ time. By the end of 2025, these analysts predict an average price of $79,193 for Bitcoin. That’s over $10,000 more than its current all-time high.

What’s driving this bullish sentiment? It seems that these analysts believe a shift is coming. Bitcoin, trading steadily throughout market turmoil, is departing its correlation to tech stocks and behaving more now like a commodity. “Bitcoin may be entering an inexorable phase of its migration into the mainstream, and at a relatively discounted price,” says commodity strategist Mike McGlone of the asset.

It’s acting more like gold than tech stocks, and it’s at a discount from its expected price. But, there’s a third factor playing in Bitcoin’s favor, too. The deflationary nature of Bitcoin is another strength. In 2024, the amount of producible Bitcoin will be halved to 450 BTC per year. Constricting the supply by this much will help to continue squeezing prices higher.

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.

Brenden Rearick is a Financial News Writer for InvestorPlace’s Today’s Market team. He mainly covers digital assets and tech stocks, with a focus on crypto regulation and DeFi.


Article printed from InvestorPlace Media, https://investorplace.com/2022/10/bitcoin-predictions-why-55-crypto-pros-see-btc-closing-in-on-80k-by-2025/.

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