With the price low of the past few weeks, Bitcoin (BTC) has worried some investors. The fear-and-greed index has a value of 22 even with “extreme fear”. Nevertheless, an old and a new speak Bitcoin forecast for the cryptocurrency to exceed the threshold of $ 100,000 by mid-2022.
Bitcoin forecast for 2022
Some of these predictions caught the attention of investors as early as 2021. The pseudonymous crypto analyst PlanB is always at the forefront. The Dutchman had originally set the 100,000 mark for the end of last year. However, its stock-to-flow (S2F) model allows for a certain range. His current Bitcoin forecast is therefore closer to summer 2022.
Antoni Tranchev also agrees. In 2018 he founded the company Nexo, which is now the world’s largest credit institution in the digital financial sector. As part of CNBC’s Street Signs Asia show, Tranchev spoke about his expectations on Monday.
“I think that [Bitcoin] will reach $ 100,000 this year, likely by the middle of the year. And for two simple reasons: We see that institutional acceptance continues and that companies are filling their treasuries with Bitcoin. And the wider range of macro realities and cheap money will also remain, which is great for cryptocurrencies, which are an inflation hedge, and for Gold 2.0. “
People are wrong
Trenchev himself takes a “contrary” view of the continued loose monetary policy of the Fed (central bank of the USA). Most people would likely be wrong about their expectations for interest rate hikes in the future.
The entrepreneur even goes one step further. He believes “that as soon as we see a rate hike, there will be a slump in stocks and the bond market – and frankly, we haven’t seen much political will in the past few years to do so […] to enforce any kind of correction in the traditional financial markets. ”It remains to be seen whether the Bitcoin prognosis of the Nexo founder and thus also that of the Dutch analyst PlanB is correct.