Finder: BTC will hit Bottom at $13,676 and end the year at $25,473
According to the latest cryptocurrency forecast report published by the product comparison platform finder.com , 77% of 53 experts in the field of financial technology, say that the cryptocurrency markets are officially experiencing a "crypto winter".
The survey also shows that only 29% of participants believe that the bear market will end in 2022.
53 fintech specialists of Finder are trying to guess the future value of Bitcoin
Finder.com published a new forecast stating that bitcoin (BTC) will fall to $13,676 per unit this year, according to 53 financial technology experts surveyed. Although the report notes that experts believe 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 forecast of the panelists is largely consistent with the theory of an 80% drop, as BTC has lost more than 80% compared to the historical maximum price during each major bear market. At the time of writing, BTC has fallen by more than 72% compared to the historical maximum of 69 thousand dollars (ATH) recorded on November 10, 2021.
Monthly Bitcoin (BTC) chart for July 13, 2022.
Mathematics shows that an 80 percent drawdown from ATH BTC in November 2021 will be approximately $13,800 per unit.
However, Martin Frehler, CEO of Morpher, has a different opinion and expects a much lower minimum price. Frehler told Finder researchers that BTC is likely to drop to $12,000 per unit, and return to $40,000 by the end of the year.
"It's reasonable to expect more major projects to fail in the next couple of months," Frehler explains in the Finder forecast report. "Retail sentiment is at a historic low due to global economic uncertainty and inflation. Highly leveraged miners who have just had to survive the exodus from China will capitulate and further increase the downward pressure. We will see even lower bitcoin prices."
46% of Finder experts expect the bear market to continue in 2023
The Finder study also says that while only 29% of the panelists believe the crypto bear market will end this year, 46% believe it will continue until 2023, and 24% believe the crypto winter could last until 2024.
Paul Levy, a senior lecturer at the University of Brighton, said that he estimates that the bear market will continue until 2023, and bitcoin will close the year at $15,000 per unit before returning to normal.
"Bitcoin is likely to recover in 2023, which in fact could lead to inflated expectations and further instability. A lot, of course, depends on world events, such as the war in Ukraine, and its own continuing impact on world confidence," said a senior lecturer at the University of Brighton.
https://coin-signal.com/cryptonews/finder-btc-will-hit-bottom-at-13676-and-end-the-year-at-25473/
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