Will Bitcoin Hit $50K At The End of 2022?

  • 21.6% of the 22,309 voting population is bullish on Bitcoin’s future.
  • Bitcoin has witnessed breathtaking fluctuations in the past week.
  • Cryptocurrency has had trouble breaking its resistance level.

By the end of 2022, BTC is expected to reach more favorable highs. In contrast, the decreased projections are mainly due to the crypto meltdown.

In particular, 43.5% of a total of 22,309 votes from the cryptocurrency community on Twitter forecast that Bitcoin’s value will range from $20k-$30k. However, 21.6% of the voting population expects more of Bitcoin’s future. They think Bitcoin will surpass the $30k threshold toward its all-time high.

Over the past couple of months, Bitcoin has witnessed breathtaking fluctuations. The market looks agitated and unstable, and the Fear & Greed Index has shown a high level of nervousness.

As a result, 27.2% of voters predicted a negative retracement. According to these forecasts, Bitcoin will cost between $10,000 and $20,000 by the end of the year. A further 7.7% of people predict a price under $10,000 by the end of the year.

Meanwhile, experts have commented that the market will hardly move above $30k without fundamental support and bullish sentiment from the stock market.

The value of Bitcoin (BTC) hit $20,000 on Tuesday, October 27, marking the currency’s highest level in more than a week. A limited trading range continues to limit Bitcoin’s growth.

As a result, several traders and investors are now focusing on the crypto’s next target price by October 31, given the volatility experienced in the crypto market.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer