The price of Bitcoin may rise to $35,484 by end of this year- New Finder report

Temitope Akintade
Predictions for the years 2025 and 2030 suggest BTC prices could reach $107,000 and $314,000 respectively…

Finder, a leading comparison platform recently sampled the opinions of crypto experts on the future valuation of flagship asset bitcoin. And the Survey warns that Bitcoin could reach a high of $35,484 before the end of the year.

Finder runs quarterly surveys of industry experts, asking for their thoughts on how various cryptocurrencies will perform over the next decade. And, the July 2022 report was made up of the opinions of a panel of 53 industry experts with differing views on the state of crypto.

Bitcoin price prediction for 2022. Source: Finder.com

According to fintech specialists, the price of Bitcoin might jump to $25,473 by the end of 2022. At its highest, BTC could reach $35,484 but it is expected to see a low of around $13,676 sometime before the end of the year.

Our panel thinks BTC will be worth US$25,473 by the end of 2022 before rising to $106,757 by 2025. And while holding until 2030 may result in a real payoff, the panel sees some tough times ahead in the short-term, expecting BTC to be worth just $13,676 at some point this year.”

In the long term, predictions for the years 2025 and 2030 suggest BTC prices could reach $107,000 and $314,000 respectively. 

Long-term prediction for bitcoin. Source: finder.com

Is this the crypto winter over?

Almost all respondents confirmed that the markets are in the crypto winter, but 77% argued that this is only the beginning of the winter. Only 15% conceded that they were unsure if the markets were in winter. And, 8% indicate that it is not yet winter for crypto.

For most respondents, the reason for the decline of crypto prices varied but the majority claimed that interest rate hikes around the world were the leading cause. Other reasons included Terra’s (LUNA) collapse, tightening balance sheets, and the uncertainty caused by the geopolitical tensions.

Causes of the crypto winter. Source:finder.com

A number of analysts believe that the crypto price crash is a pointer to some deficiencies in the ecosystem that needs fixing. For instance, Dr Dimitrios Salampasis, director at the Swinburne University of Technology says that the lack of regulation is a strong pointer to how weak the crypto markets are. 

“The current crypto market is suffering from contagion due to the high interconnectivity and lack of proper regulation, numerous uasi-DeFi and quasi-CeFi schemes are unable to deliver” 

29% of the respondents believe that the crypto winter will roll over to the first half of 2023 while 17% think the second half of the year will be the end of the winter. Only 12% believe that a reversal of fortunes will happen within a few months, and at the end of the spectrum, 5% predict that the winter could drag to 2025.

For instance, University of Brighton senior lecturer, Paul Levy thinks that the crypto winter will last until the second half of 2023 and that BTC will end in 2022 at $15,000.

“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 winter is needed

At the moment, Bitcoin and the entire crypto markets have shed at least 60% from their all-time highs.

Despite all the forecasts of the future, a common denominator rings through respondents’ opinions. Most respondents believe that the winter is necessary “to weed out unscrupulous actors in the space” and create room for products that add value and improve the credibility of the crypto markets.

Many also believe that the bearishness in the market is only temporary. Several panellists claim that for Bitcoin, a halving is just around the corner and this could send the asset prices back to their all-time highs again.

However,  Lee Smales, a finance expert, notes that Bitcoin is dying a slow death as investors continue to move out of risky assets, while Prof. Carol Alexander stated that BTC is all speculation and “has no utility value for the development of Web 3.”

To buy or not to

50% of the respondents say that now is the time to buy bitcoin. 40% of them believe this is the time to HODL while 10% think it’s the time to sell your bags. 

50% of panellists think you should buy BTC. Source:finder.com

An analyst at Arcane Research, Vetle Lunde predicts bitcoin to end the year at $20,000 but suggests more trouble ahead for crypto. 

"Interest rate hikes and balance sheet tightening forced the initial downward pressure in an environment of high correlation to US equities. The Luna/UST collapse had an enormous impact on various funds and lenders, causing contagion and the collapse of 3AC. Further tightening and unwinding of bad crypto debts will create sobering times onwards, and investors should buckle up for more difficulty."

John Hawkins, senior lecturer at the University of Canberra gives a damning verdict on bitcoin. He sees the coin as a failed experiment and says it is time for people to sell:

"BTC is clearly not a store of value given its price volatility. It is not a medium of exchange – almost no stores accept it. It is not a unit of account – the only things priced in it are other cryptocurrencies. So it is not money or really a currency, it is nothing but a speculative bubble in the process of imploding."

On the bright side, Gavin Smith, general partner at Panxora Hedge Fund says BTC will end the year with around $48,000. He also outlined points which support an upward movement for the flagship asset.

"The second half of 2022 to be characterised by declining pressure for higher rates combined with a negative real yield. These factors together should be constructive for Bitcoin price performance."

Fred Schebesta, founder of Finder, says:

"The market is currently fearful. However, technology hasn't changed and is still strong. Bitcoin is following the downturn of other parts of the economy, but I have a strong conviction that it will bounce back."

What can we learn?

It is important to analyze the prospects of digital assets from both sides before making a financial decisions. 

As much as bitcoin and other cryptocurrencies have given huge returns to millions of investors/traders that know their way around the technology, there are also a significant number of them that have lost hard-earned money due to lack of proper research.

In this light, it is imperative to always do your own research (DYOR) and as always, do not invest more than you can lose in digital assets. 


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