In a study, experts see bitcoin at $90,000 and 61% recommend buying
A survey that interviewed 33 experts in financial innovation and cryptocurrencies discussed bitcoin price forecasts for 2022; most are optimistic about the sector
The price of bitcoin could reach 93,717 dollars later this year, according to a survey by the Finder platform. This is the average value pointed out by the experts heard in the survey.
The study brought together 33 experts in Fintechs, cryptocurrencies and NFTs, including Daniel Polotsky, founder of CoinFlip, John Hawkins, senior lecturer at the University of Canberra (AUS), and Vanessa Harris, Director of Product at Permission.
The amount released by Finder is an average among forecasts, ranging from $60,000 to $2200,000. Even with the widespread fall of the crypto market and after the price of bitcoin has plummeted more than 50% since its historical maximum, optimism dominated the opinions of respondents.
According to Jonathan Zeppettini, leader of international operations at Decred, this is even a good time to keep up with the main cryptocurrency on the market, as it would offer more security. “In any market in a prolonged fall, blue chips such as bitcoin are expected to do better, as money flows from more speculative assets to what is widely considered a safe haven, while the storm does not pass,” Zeppettini commented.
Another much talked about subject in the study was the probable correlation that the cryptocurrency market would be developing with traditional finances, and about what would be the impact on the price of bitcoin caused by the decisions of the Fed, the US central bank. “The global economy seems a little shaken, with inflation reaching 7% in the United States. It is possible that the asset bubble created by the Federal Reserve by keeping interest rates close to 0% for more than a decade will also affect bitcoin,” commented Daniel Polotsky, CEO of CoinFlip.
The expectation worldwide is that the US institution will increase these rates later this year. However, 50% of experts still believe that the price of bitcoin will not fall if this happens.
Gavin Smith and Bilal Hammoud, CEOs of Panxora and NDAX, respectively, believe that a negative price reaction to Fed measures may even happen, but it will be temporary. “Inflation is out of control and bitcoin may fall with high interest rates. In my opinion, the fall will be temporary,” Hammoud said.
Analyzing the current scenario and thinking about long-term investment, most (61%) of experts recommended buying bitcoin. Already 29% were still against the sale, asking investors to resist the impulse to sell their assets in falling scenarios like this. Only 10% was in favor of the sale.