Bitcoin Set For $80,000 in 2022 Once Current Bear Market is Finished
At just over $7,000, the price of Bitcoin is far from the $80,000 prediction. However, a lot can happen between now and 2022, which can influence the price of Bitcoin upwards.
The Bottom Should Arrive by 2019 End
According to Credible Crypto’s analysis, we’re currently heading towards a price bottom before the bull run begins.
— Credible Crypto (@CredibleCrypto) November 24, 2019
Bitcoin has been on the downward path in the last few weeks, losing most of what it gained during the third quarter of the year.
Credible Crypto’s prediction could be right considering the trend we’re observing. The prediction also aligns with some of the other predictions given earlier this year.
The current price trend qualifies as a bear market, and we may soon reach its bottom.
Major Bull Run to Follow in 2021/22
The bear market is likely part of a more significant market shift. A sorting or weeding may be taking place, leaving only those with long-term plans for Bitcoin.
After Bitcoin bottom’s out, the increasing global adoption and the stagnation in its supply will drive demand for the cryptocurrency even higher. Thus, Bitcoin’s price would be on its way to the predicted $80,000.
The Bad News
In his prediction, Credible Crypto mentions that the best and worst is yet to come.
If this prediction is spot on, then post $80,000 will be a correction and readjustment period as the market evolves. This will also be the time when most “Shitcoins” will disappear.
Based on market trends of other emerging assets, Bitcoin’s future could quickly turn out as predicted by Credible Crypto. Many predictions agree on the new all-time high, but very few are concerned with the future of the cryptocurrency once it reaches its new high.
Traders must be prepared for the changes that occur periodically with every asset in the market, including Bitcoin and other cryptocurrencies.
Featured Image Source: GoodFon
Sal Miah is the senior editor at Blockspectator News and is a regular contributor to a variety of cryptocurrency news websites and projects. He has written hundreds of articles on numerous topics related to blockchain and also has a special interest in financial markets. Contact him directly at firstname.lastname@example.org