Bitcoin, the major cryptocurrency in crypto market, has crashed below $24,000, reaching its lowest levels since the end of 2020. With its plummeting prices, Bitcoin may now struggle to hit its lows in the history. Even for those who don’t live in Bitcoin market, they can still smell, breathe, and sense something unusual happening. While some experts and players in this huge game give their prediction about the whole Bitcoin market. Since Bitcoin, the giant, is suffering, several leading cryptocurrencies, including Ethereum (ETH), Cardano (ADA), Solana (SOL) and Dogecoin (DOGE) seem to in the middle of experiencing even heavier losses than bitcoin, which had its fall by between 15-25 per cent. In June 14th , Bitcoin hits its low at 20777.0 and bounces to its high at 23390.5. The trembling numbers on the screen tell us that the clock is ticking.
Previously: Bitcoin Price History
Bitcoin’s history is not strange to all, even to those who learn slightly about the it. For nearly being worthless and cast away, Bitcoin does gain his reputation by growing to be one of the biggest assets in the world. As we can see in the below chart, Bitcoin is growing all the time despite it’s low and dilemma in present.It has undergone several rallies and crashes since it became available.
The price changes for Bitcoin alternately reflect investor’s enthusiasm and dissatisfaction with its promise. It gained mainstream traction as a means of exchange and attracted investors who began to bet against its price changes. Investors turned to it as a way to store value, generate wealth, and a shelter from inflation. Bitcoin was in its prime years back in that time. At that time, Bitcoin price fluctuations were primarily from investors and traders by betting on an ever-increasing price without a restrict from anticipation of riches. But Bitcoin’s price story has again changed. In January 2022, Bitcoin began losing steam. It triggers a lot of concern about the future of Bitcoin.
The Biggest Concern toward the Future of Bitcoin among Prediction
While the brightness of future dims lately, people involved in Bitcoin market start to concern. They put their feet in the market once, and some of them still want to continue, while others want to found a safe ground to retreat and farewell to the whole market. Let’s go through some concerns to see if you have the same one as they does.
The biggest concern about crash is that can an 200-week moving average bring support BTC desperately needs?
Just as Ekta Mourya says in her paper, the whole Bitcoin market is in the midst of breakdown from a bearish continuation pattern. Unlike those web citizens, she beholds that the market may regain it’s vitality at some time, however, it must at the cost of Bitcoin losing a massive chunk of its value. And the whole ecosystem may be changed into some deserted place like it never has been. So, the answer is YES definitely. The Bitcoin price can witness its future some day, however it may not be as bright as it was before.
Prediction for the Ongoing Ten Years about Bitcoin
Bitcoin Prediction for two weeks’ time
As some experts pointed out, the intense situation will be improved little by little, just as what is showed in the below chart , 3 were bullish (up 1 from last week), 1 was neutral (down 1 from last week) and 1 was bearish (same as last week) about the price of BTC for the week of 20 June 2022.
Bitcoin Prediction for 2022
Crypto analysts say that at the end of summer 2022, the BTC price will be around $35,743.93. In August, the Bitcoin cost may drop to a minimum of $34,289.67,while it will meet its peak value,$37,910.34.
Bitcoin Prediction for 2022-2030
According to the analysts posted on challenge log, every twice year, the price of Bitcoin would be doubled, as well as the cost of it, sharply after 2025.
As the chart suggested, what we need is to get through this tough time, and wait it’s thriving.
Bitcoin Prediction for Overall View
Just as what said by Dimitrios Salampasis, FinTech lecturer at Swinburne University of Technology as an overall view about the future of Bitcoin. Bitcoin used to serve as a storage of value, and it will be.
Sure it is and sure it will be.