Bitcoin (BTC) and Ethereum (ETH) in 2022: expert predictions

2021 has been an important year for the crypto-asset market, Bitcoin (BTC) having nearly doubled in price since the start of the year, and the total market capitalization having grown from just over $750 billion to nearly $3 trillion.

Source: Adobe/Wit

For bitcoin, price gains this year have been fueled by major developments such as El Salvador’s choice to make cryptocurrency legal tender, and Tesla’s becoming the largest company to date to add cryptocurrency. bitcoins on its balance sheet.

Similarly, Ethereum (ETH) has also seen major bullish developments this year, with the implementation of the EIP-1559 upgrade, which introduced a token-burning mechanism for the first time, being arguably the most significant. .

2022 could turn out to be even better for the crypto market, according to some analysts with whom Cryptonews.com entertained.

Price predictions for Bitcoin in 2022

Source: CoinGecko

Although 2021 has not been without challenges for BTC holders, with both strong rallies and deep corrections seen over the year, all commentators are optimistic about its price next year.

“It will continue to be volatile, however the long-term trend will be up and it will more than double in terms of total market capitalization per year on average,” said Kjetil Hove PettersenCEO of the Norwegian BTC mining company, Kryptovaultadding:

“I expect a big increase in the short term, in 2022 we could see 140k USD or more.”

However, Pettersen also pointed out that it is “impossible to accurately predict” the direction of the price.

“[…] there are so many external factors and influences at play that it is difficult to apply a [analyse technique] traditional or historical comparisons,” said the CEO.

Bernardo Schucmannvice president of the digital currencies division at the bitcoin mining company, CleanSparkshows the same optimism.

“Bitcoin could hit $250K by the end of 2022, based on the huge number of mining companies that were founded in the United States in 2021,” Schucman predicted.

He added that these new miners not only increase the hashrate, or the computational power of the Bitcoin network, but they are also “strong holders of the asset.”

“The final key, but very important, driver to maximizing the increase in the price of BTC will be greater adoption of the use of BTC wallets implemented in social media, such as Twitter,” Schucman added, noting that Bitcoin’s Lightning Network will provide “a big boost for mass adoption of BTC.”

The most optimistic among these experts is Julian LinigerCEO of Relaya Swiss-based bitcoin broker, who believes that BTC adoption could take to another level in 2022.

“Individuals, businesses and now even countries are starting to embrace Bitcoin and fiat currency inflation is on the rise,” Liniger told Cryptonews.com. He added that the daily fluctuations in the price of Bitcoin have declined sharply over the past few years.

And if the CEO of Relai is right, next year is looking extremely bullish for Bitcoin:

“I think 2022 will be the year Bitcoin hits $500K”

For Matthew Hylandindependent technical analyst, BTC could reach USD 250,000 as of January 2022, although this would require a large and rapid increase from the current situation.

Hyland justified his high price target by saying that we have yet to see euphoria like 2017 in the current market cycle, explaining that this should be seen as “the last part of a bubble.”

“The euphoria will start when Bitcoin breaks above $100,000,” Hyland wrote on Twitter just before the market began to correct lower in late November.

Finally, simon peterscrypto trading platform analyst eTorodid not provide a firm price target, but said the price of Bitcoin typically hovers around the block reward halving every four years.

“We saw a bull market in 2013, 2017 and now we see it in 2021. However, the parabolic price increases towards the end of the bull markets of 2013 and 2017, have yet to occur this year, suggesting that there could be more price increases ahead before the ultimate high is reached,” the analyst said.

Price prediction for Ethereum in 2022

Source: CoinGecko

Like Bitcoin, Ethereum also saw a strong rise in 2021.

However, the second cryptocurrency in the market is known to be more volatile than Bitcoin, and according to some analysts, making predictions for Ethereum is more difficult.

“I don’t dare to speculate” on the direction Ethereum’s price will take in 2022, said Kryptovault’s Kjetil Hove Pettersen, while stressing that it will likely be “even more volatile than Bitcoin.”

“It’s possible it will outperform Bitcoin, but there’s also a lot more risk associated with it, like with every altcoin,” Kryptovault’s CEO said.

eToro analyst Simon Peters said ETH could see higher prices due to a combination of increased demand and reduced supply, although he declined to give a price target. closed.

Demand from institutions and retail investors looking for alternative investments, combined with a “declining supply and slower release of new ETH” due to EIP-1559 could lead to ” a potential increase in the price” of ETH, the analyst said.

He added that more of the existing supply of ETH is now locked in staking contracts. This comes on top of the supply that is already stuck in decentralized finance (DeFi) applications, and a dwindling supply of ETH on exchanges, the analyst explained.

Among those who dared to offer a more specific target, Bernardo Schucman of CleanSpark predicted that the growth of DeFi and a general trend towards more tokenization would push the asset to new heights in 2022.

ETH “could come closer to $20,000 due to the large number of new DeFi and tokenization projects growing in the ecosystem,” Schucman said.

Finally, Mike McGloneBloomberg’s senior commodities strategist, also made a rather vague prediction for ETH, saying in a November cryptocurrency market report that it “appears on track to hit $5,000, with support around 4 000 USD”, without specifying an exact timeframe.

Last month’s prediction follows the analyst’s bullish comments on September’s crypto outlook, where he said ETH is “gaining traction” amid “decreasing supply” and increasing demand. .

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