Optimistic Outlook for Bitcoin

When talking about cryptocurrencies most will inevitably default to Bitcoin (BTC.) That makes sense, given that it was the first, having been established in 2009, and still remains the most popular. Tracking the value of Bitcoin is a difficult and complicated task, with the question being as to how far back you wish to track the value.

If taking 2021 as a starting point the signs are extremely positive. By 9th January 2021 Bitcoin had gained an enormous 559% when compared to the previous year, boosted by the Bitcoin Taproot update. Looking closer, Bitcoin hit a staggering value of $40,000 by January 7th. This means that it had surpassed its 2020 record in just a single month.

Another record was hit in April 2021 of $60,00, leading many to believe that the currency would be heading towards $100,000. The boost in this case was due to Coinbase going public.

Highs and Lows

But as with all cryptos, Bitcoin underwent turbulence that would strip some of the value. Towards the middle of 2021 a decline of 50% occurred, dropping value to $29,000. This would be followed by a rebound to $52,00 in September.

This was followed by multiple significant highs and lows, with the bottom being $4,709, and a new high being hit of $67,000 in November. June 2022 saw a middle ground of $30,000.

As of December 2022 Bitcoin sits at $16,000. It is clear that making an accurate prediction is extremely difficult, with numbers seeming to be anywhere between $16,000 and $60,000. Even now the FTX drama is impacting Bitcoin value, likely causing a significant downward trend. But the drama will pass and the market will again level out, potentially opening up a new wave of trading.

Even still, experts seem unanimous in one regard; Bitcoin has a bright future in 2023 and beyond.

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Looking to the Future

Most experts are still optimistically eyeing the $100,000 mark, but have settled on the value levelling out at around $70,000. CryptoNewsz has declared that, come 2023, the value will climb and stay steady at around $72,000. The CryptoNewsz experts added that the lowest balancing point will probably be around $65,000. This prediction may seem optimistic at the moment, but lest it be forgotten price fluctuations tend to be dramatic.

Looking beyond 2023, CryptoNewsz is even more optimistic about 2024. The experts declare that 2024 will likely see the value averaging out at $78,000, but possibly going as high as $85,000. Still not the $100,000 mark that some are so optimistic about. At least, not until around 2025.

2025 is the magic year that Bitcoin could finally breach the $100,000 mark. Changelly.com is cautiously optimistic that, yes, by 2025 Bitcoin could finally breach the barrier. Of course, this is all speculation, and no one knows for sure what the future holds. But if these expert opinions are anything to go by current turbulent markets are soon to be levelling out, improving, and ushering in a new era of popularity for the biggest crypto in the world.

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