Bitcoin has more room to fall before it skyrockets, according to analysts. It is the third time this year that the panel of analysts had to adjust its predictions down.
The average of the poll responses suggests that bitcoin’s price would reach around USD 13,676 before the end of this year. It would then head to USD 25,500 almost 30% higher than its present value at 8:30 UTC (USD 19,770).
Finder.com’s panel was made up of crypto industry players, including analysts, founders, CEOs, and academics.
Martin Fröhler, a mathematician and crypto trading platform Morpher CEO, predicts that the failure of cryptocurrency projects will continue because it is related to economic uncertainty and inflation.
An analyst for Arcane Research agreed with Fröhler, stating that bitcoin has been crushed by negative impulses and will drop to $13,000 this year.
In April, most of the panellists predicted that the price of bitcoin would decrease and go below 5,000. Now, more than 50% of them are anticipating a price below 8,000-9,000 Dollars.
Bitcoin will be valued at USD 81,680 this year before dropping to USD 65,185 in the next year.
The majority of the panellists cited global interest rate hikes as being the main driver behind the current crypto bear market. The next most important reason for this is the collapse of Terra’s ecosystem, monetary tightening by central banks and rising inflation.
In 2025, Bitcoin is predicted to be worth 106, 757 USD and, by 2030, 314, 314 USD.