Bitcoin prices have remained fixed since the start of the year and analysts believe that it is time to expect another drastic move. This was reported by Bloomberg in its magazine Crypto Outlook.
Though Bitcoin and Ethereum have had their prices swing wildly from all-time highs to their current prices, experts predict that Bitcoin will touch $100,000 at some time. The same experts suggest that investors do nothing and wait till the price stabilizes. Everyone expects surprises in 2022. Conditions are becoming favorable for a new charge to confront bearish tendencies.
Inflation is high in the US and lawmakers are most likely to bring up the Bitcoin mining issue in public. There are plenty of stumbling blocks to look forward to. It looks like Bitcoin is ready to spring another surprise when it is least expected.
The current price of BTC is hovering around $44000. Analysts expect the prices to go up into the black and fluctuate between the $43000 and $51800 range. Inflation is at 7% and the consumer price index is at a 40 year high. The feds are expected to increase interest rates at least 4 times in 2022.
A senate committee is set for a hearing on cryptocurrencies and their impact on the general economy. Don’t be surprised if BTC prices jump again and go as high or higher than those in Q4 of 2020. A Q1 2022 rally is to be fully expected as markets shrug off a Chinese ban and never mind an SEC crackdown