BTC to US500k or US10k in 5 Years What the Future Holds

After Bitcoin’s price hit a new all-time high in November, it seemed easy to say that it would hit $100,000 by the end of the year. Since then, the price of Bitcoin has gone down a lot, which makes the prediction game much harder. Check the essencial facts to know about bitcoin.

Some of the most vocal people who don’t believe in cryptocurrencies say that Bitcoin’s price could go as low as $10,000 in 2022. 

Many experts in the field don’t know if they can accurately predict a number and a date. Instead, they like to say that Bitcoin’s worth has been going up over time. In October 2016, Jurrien Timmer, director of global macro at Fidelity Investments, said that investors should expect the long-term value of Bitcoin to rise in a way that is “pretty sustainable.” He also said that they would soon reach their goal of $100,000.

There are more and more places that accept cryptocurrency.

In 2021, traditional businesses in many different fields started to show interest in cryptocurrencies and blockchain technology. Some of them even put their own money into these technologies. For instance, AMC said a year ago that it would start accepting Bitcoin payments. 

Several people who study big multinational companies think that this technology will be used even more in the second half of this year. Weiss says, “What we’re looking at is the involvement of institutions in crypto.” By “institutions,” he means big businesses and banks like Amazon. A big store like Amazon could “set off a chain reaction” of people agreeing with the idea and “give it a lot of credibilities.”

What Comes Next for NFTs?

Non-fungible tokens (NFTs) could be used to prove digital ownership of many different intangible assets that can’t be copied. This idea is appealing to well-known people and big companies like American Express and Gucci. 

But there is still a lot of talk about whether NFTs are here to stay or just a trend that will end. DappRadar says that NFT sales fell below $1 billion for the first time in a year in June.

Chainalysis’s research found that “NFTs grew a lot in 2021, but this growth hasn’t been steady, and it seems to have stopped so far in 2022.” 

What it means for investors when the value of NFTs goes down

Last year, a lot of people bought NFTs to turn them into investments or just because it’s fun. 

Since NFTs involve even more risk and speculation than cryptocurrencies, it is strongly advised that you don’t invest in them.  when most cryptocurrencies are losing value, this is especially true. At the moment, Bitcoin and Ethereum are two of the most popular digital currencies.

Since Bitcoin has the most market capitalization, it is a good way to predict what will happen in the cryptocurrency market as a whole. Bitcoin is the leader of the cryptocurrency market, so the rest of the market tends to follow what Bitcoin does.

In 2021, the price of bitcoin went up and down like a roller coaster. In November of that year, it went over $68,000, which was a new all-time high. But everything went wrong in the year 2022.

This year has been marked by a lot of macroeconomic uncertainty, and it hasn’t gone away. Most of the time, this is because inflation is going up, the stock market is unstable, interest rates are going up, and people are worried about a recession. Because of this, the market for Bitcoin and all other cryptocurrencies has gone down. 

Since November of last year, the price of one bitcoin has dropped by more than two-thirds. In the last few weeks of trading, it hit a low of $17,500. Experts in finance still can’t decide if bitcoin has hit its lowest point or not. Some people think it’s already there, while others think it could drop as low as $10,000 in 2022.

But how high can bitcoin go before it hits its limit? Even though bitcoin has had a rough start to the year, financial experts still think that its price will reach $100,000. They think that when this will happen is more important than if it will. The author of “Cryptocurrency Investing for Dummies,” Kiana Danial, says that the history of Bitcoin may show what to expect from the digital currency in the years to come.

Danial says that the price of bitcoin has gone up a lot and then down a lot a few times since 2011.