Bitcoin and Ethereum Price Predictions for 2022
Even though bitcoin (BTC) has over doubled in price this year, total crypto market value has increased from just over USD 750bn to almost USD 3trn in the last 12 months.
Several key events propelled bitcoin’s price rises in 2021, including El Salvador’s adoption of bitcoin as legal tender as well as Tesla becoming the largest firm to date to hold bitcoin on its balance sheet.
On the other hand, the implementation of the EIP-1559 upgrade, which first introduced a supply-reducing token burn mechanism and is widely considered the most essential one, has seen significant optimistic developments in Ethereum (ETH) in 2021.
See also: Here’s how to build an optimal cryptocurrency investment portfolio.
And while 2021 was a terrific year for the crypto sector, several analysts believe that 2022 may be even better. Opinions, as is customary, are radically divided.
To get a sense of what to anticipate in 2022, we did a compilation of the analysis of a few industry leaders on the price forecasts for BTC and ETH in the year 2022.
All of the comments were positive about the price of bitcoin for the upcoming year, despite the fact that this year has witnessed both high rallies and deep corrections.
Norwegian Bitcoin miner CEO Kjetil Hove Pettersen predicts that the entire market cap will more than quadruple every year, despite the volatility. He adds: “I forecast that it will continue to be turbulent.”
We could see 140k USD or perhaps more by 2022, according to what I expect to be a rapid rise in demand.
Technical analysis can be used to estimate the price, but Pettersen warned that it is “difficult to predict with any certainty” where the price will go.
Traditional [technical analysis] or historical comparisons are difficult to use when there are so many components and external influences at play, according to the Bitcoin miner.
Similarly, Bitcoin miner CleanSpark’s senior vice president for digital currency, Bernardo Schucman, was upbeat about the number one cryptocurrency’s future in 2022.
With so many new Bitcoin mining firms popping up around the country by the end of 2021, Schucman anticipated that the price of a bitcoin will be worth $250,000 by year’s end.
Additionally, these new miners are “strong holders of the asset,” as he put it, not just are they raising the Bitcoin network’s hash rate (or processing power).
“The last, but very significant, fundamental reason to maximize the BTC price growth will be more adoption of the use of the BTC wallets incorporated in social media, such as Twitter,” Schucman said, saying that Bitcoin’s Lightning Network will offer “a great push for BTC mass use.”
Julian Liniger, CEO of bitcoin broker Relai in Switzerland, expressed the most optimism about the coming year when asked about the outlook for the cryptocurrency. He predicted that BTC adoption would reach a new high in 2022.
Coinbase’s Liniger stated that the use of bitcoin is growing steadily as well as the inflation of fiat currencies. Furthermore, he predicted that bitcoin’s “daily price fluctuations” would “go from hundreds of dollars to several thousand dollars to tens of thousands, and would reach the hundreds of thousands of dollars in 2022”
According to the CEO of Relai’a, the year ahead looks highly promising for the most popular cryptocurrency: Bitcoin.
Liniger predicted that by 2022, the value of a bitcoin would reach $500,000.
Even if they weren’t as positive as Relai’s CEO, others were upbeat about the year to come.
Bitcoin might achieve USD 250,000 in January 2022, according to popular independent bitcoin on-chain and technical analyst Matthew Hyland, who made the prediction in early November. However, this would require a big and rapid gain from where bitcoin currently stands.
Hyland’s high price forecast was explained by his claim that the current market cycle has not yet witnessed the excitement that was seen in 2017, and that this should be observed in “the concluding part of a bubble.”
Just before the market started correcting lower in late November, Hyland posted on Twitter, “I think euphoria will commence when bitcoin breaks USD 100,000.”
A crypto analyst at forex and cryptocurrency trading platform, eToro, did not disclose a specific price target for bitcoin, but he stated that the price of bitcoin normally rotates around a four-year block reward halving.
“In 2013, 2017, and now in 2021, we’ve had a bull market. According to one analyst, “We haven’t seen parabolic price jumps as we experienced at the end of 2013 and 2017 bull markets, which means that there could be more price increases to come before we reach the final top.”
Predicted Ethereum prices for 2022.
In 2021, Ethereum has witnessed plenty of bullishness, too, like bitcoin has.
In contrast to bitcoin, the second-most valuable crypto asset is known to be more erratic and tougher to forecast, say some analysts have said. Consequently, the number of people prepared to offer ETH a specific price goal dropped.
See also: IS 2021 STILL A GOOD YEAR TO INVEST IN BITCOIN?
Kryptovault’s Kjetil Hove Pettersen stated he “dare not speculate” on where the price of Ethereum would be in 2022, but he also stressed that it will likely be “much more volatile than bitcoin.”
Even if it outperforms bitcoin,
“There is a lot more danger involved, just like with any altcoin,” said Kryptovault CEO.
Ethereum could rise in price because of a mix of greater demand and less supply, according to eToro’s crypto analyst Simon Peters.
According to the expert, ETH might see a “possible price increase” as a result of a “supply tapering and slowing of new ETH coming into circulation” as a result of the EIP-1559 implementation.
There is an increasing amount of Ethereum in staking contracts, according to him. Decentralized finance (DeFi) applications now hold a large portion of the supply, and the supply on exchanges is decreasing, according to the expert.
Bernardo Schucman, CEO of CleanSpark, was one of the few to propose a more specific aim, predicting that DeFi’s growth and a wider trend toward tokenization would propel the asset to new highs in 2022.
There are so many innovative DeFi and tokenization initiatives catching on in the ecosystem that ETH “will climb towards 20K USD,” Schucman said.
Bloomberg’s Mike McGlone, a Senior Commodity Strategist, had an even more ambiguous estimate for ETH, saying that it “appears to be on pace for USD 5,000, albeit with support around USD 4,000.”
He made the prediction last month after making positive statements about ETH in September’s crypto outlook. He said that ETH is “gaining traction” because there is less ETH and more demand.
