According to the latest crypto prediction report published by the product comparison platform finder.com, 77% of 53 fintech specialists polled in the report say cryptocurrency markets are officially in a “crypto winter.” The poll further explains that only 29% of the report’s participants believe the bear market will end in 2022. While bitcoin is expected to surpass $100K per coin by 2025, Finder’s experts think bitcoin will bottom out at $13,676 per unit, but also end 2022 at $25,473 per unit.
Finder’s 53 Fintech Specialists Attempt to Guess Bitcoin’s Future Value
Finder.com published a new forecast that says bitcoin (BTC) will drop to $13,676 per unit this year, according to 53 surveyed fintech specialists. While the report notes that the experts think the bottom will be around $13,676 per BTC, they also expect the leading crypto asset to end the year at $25,473 per coin.
The panelists’ prediction is very much aligned with the 80% drop theory as BTC has lost more than 80% from the all-time price high during every major bear market. At the time of writing, BTC is down over 72% lower than the $69K all-time high (ATH) recorded on November 10, 2021.
In mid-June, Bitcoin.com News reported on what prices would look like if BTC and ETH followed the same bear market patterns as they did in previous years. The math shows that an 80% drawdown from BTC’s ATH in November 2021, would be roughly $13,800 per unit.
Finder’s prediction report indicates BTC’s expected 2022 bottom value is a touch more than 80% lower than the ATH. However, Martin Froehler, the CEO of Morpher, has a different outlook, and he expects a much lower bottom price. Froehler told Finder’s researchers that BTC will likely drop to $12K per unit, before jumping back to $40K by the year’s end.
“It’s reasonable to expect to see more big projects fail in the next couple of months,” Froehler explains in the Finder’s prediction report. “Retail sentiment is at historic lows due to global economic uncertainty and inflation. Highly leveraged miners, who just had to digest the China exodus, will capitulate and increase the downside pressure even more. We will see even lower Bitcoin prices.”
46% of Finder’s Experts Expect the Bear Market to Continue Into 2023
Finder’s study further says that while only 29% of the panelists believe the crypto bear market will end this year, 46% think that the crypto winder will continue until 2023 and 24% believe it could last until 2024. Paul Levy, a senior lecturer at the University of Brighton, said he estimates the bear market will continue until 2023 and bitcoin will close the year at $15K per unit before bouncing back.
“Bitcoin will likely bounce back in 2023 which may actually lead to inflated expectations and further instability. Much of course depends on world events such as the war in Ukraine and its own ongoing impact on global confidence,” the University of Brighton senior lecturer noted.
The product comparison platform, finder.com, has published numerous crypto price prediction reports and the forecasts are merely guesses and conjecture. For instance, Finder’s researchers conducted a poll on Terra’s LUNA just before the crypto asset’s demise, and a great portion of Finder’s experts had high hopes for the digital asset’s future value.
According to the LUNA poll, Finder’s experts predicted LUNA (now luna classic) would be $143 before the end of the year. With luna classic (LUNC) trading for $0.00009522 per unit, the chances of it reaching $143 is arguably an impossible feat.
In the latest bitcoin prediction report, Vetle Lunde, an Arcane Research analyst, said that bitcoin will bottom out at $13K per unit and end 2022 at $20K. “A myriad of negative forces has crushed the strength of bitcoin… Further tightening and unwinding of bad crypto debts will create sobering times onwards, and investors should buckle up for more difficulty,” Lunde explained.
Last April, Finder’s BTC prediction report had shown panelists expected bitcoin to reach $179,280 by 2025 and $420,240 by 2030. Today, however, those predictions are much lower, as the fintech specialists from the latest report estimate BTC to be worth $106,757 by 2025 and $314,314 by 2030.
What do you think about the latest finder.com poll that attempts to predict bitcoin’s future value? Let us know your thoughts about this subject in the comments section below.
Bitcoin NewsRead More