Fintech Expects $65K Bitcoin Price This Year
2022.04.25 19:06
Fintech Expects $65K Bitcoin Price This Year
Bitcoin, the leading crypto, should regain its price and attain the level of $65,185 this year, according to the latest fintech industry expert survey.
A survey, conducted by comparison platform Finder in the first weeks of April, measured Bitcoin price predictions among 35 financial technology sector insiders.
Reportedly, fintech experts see Bitcoin climbing above $65K by the end of this year, yet their expectations are 15% lower than the estimates of $76K made in January.
The more pessimistic expectations are largely related to Bitcoin’s reliance on fossil fuels, which could potentially hold BTC’s price back if the new bans on Bitcoin mining intensify. Despite that, more than a half of the survey’s respondents believe that factors such as broader institutional adoption, global regulations, and countries making Bitcoin their legal tender will have a positive impact on Bitcoin’s price growth.
There is seemingly no question among fintech industry experts of Bitcoin’s place as a store of value, which could be used against fiat currency fluctuations, with 61% of the respondents seeing Bitcoin as a better store of value than gold.
More than two-thirds of respondents believe that now is the right time to buy bitcoin, with only 9% of experts opining that now is the time to sell the dominant crypto. A further 24% of respondents claimed that now is the correct time to hold it.
The survey’s respondents forecast that Bitcoin will surpass $179K in the three-year perspective, and claim that holding Bitcoin until 2030 is likely to generate the “real pay off”.
Indeed, the experts largely expect the dominant crypto to rise to the $420K level by the end of this decade, which is slightly more (3.4%) than the $406K Bitcoin price expectations for 2030 set in January this year.
At the same time, half of the respondents believe that Bitcoin may eventually be replaced by other, more advanced blockchains in time. 38% of survey participants predict that Bitcoin will remain the leading cryptocurrency, while another 12% of respondents claimed that they were uncertain whether or not Bitcoin would lose its position.
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