Recent Bitcoin price prediction reports claim the crypto will fail to retain investor expectations
Bitcoin plunged over 60% this year and now it’s stuck between the US$18,000 to US$19,000 mark. Being the most popular cryptocurrency is not easy, infact, ever since Bitcoin started shedding its value, all other cryptocurrencies have plummeted. This declination has driven investors away from the market. Last year, Bitcoin reached the US$69,000 level taking the crypto market to its peak. But as the market fell, it dragged down the robust resistance of digital assets and made the market extremely volatile. Recent Bitcoin price prediction reports claim that the crypto is estimated to plummet further below. Even though all other assets are plummeting heavily, the focus is mostly on the Bitcoin price. There are experts who believe that Bitcoin will definitely reach US$30,000 by the end of 2022, whereas some believe that BTC will plummet down to US$10,000. Meanwhile, there is another section of crypto fanatics and analysts who believe that Bitcoin will first plummet down to US$10,000 and then make its way above. Believing in any particular Bitcoin price prediction report might be unreliable from an investment point, however, it is of utmost importance that crypto users analyze the price movements of all cryptocurrencies and invest in them based on their capability to endure losses.
Bitcoin price prediction reports from Cointelegraph and TradingView have also confirmed that BTC/USD threatened to plummet further below, given the core inflation trends acted to unsettle the digital assets market by demonstrating a reversal of the previously falling inflation numbers. Actually, the CPI was expected to decrease to around 8% from its previous 8.3%. Since the value of Bitcoin and CPI data is somehow interlinked through investor sentiments, the Bitcoin price tanked when the conditions went otherwise, enhancing market sell-off fears dramatically.
Given today’s macroeconomic environment, investors are treading quite carefully. The Bitcoin price sank immediately after the new CPI reports came in. The US consumer prices in September slowed down compared to the previous month, however, the inflation rate has continued to gain momentum. Bitcoin plunged nearly 3% since the report came to its lowest level since September. The BTC price touched the US$18,000 mark, triggering other cryptocurrencies to plummet immediately. This new decline made several investors and analysts believe that the crypto will definitely touch the US$10,000 mark by the end of 2022.
So, will Bitcoin Shoot Up to US$30,000 or Slide Down to US$10,000?
Bitcoin price prediction analysis from FXStreet claims that a Bitcoin price rally close to US$30,000, at this point, is quite unexpected and even if its value is rising, the impact on the broader crypto market will remain insignificant. But the value of the cryptocurrency might surely plummet below US$15,000, before its attempts to cross the US$30k mark once again. dhaka
This resistance is quite critical for the flagship cryptocurrency. If BTC fails to attain this mark, once again, the digital asset market will witness major sell-offs, making a bad start to 2023.
Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.