Bitcoin is always a hot topic for traders and investors as it is the leading cryptocurrency in the crypto market. It has also been an indicator of the whole market’s sentiment. That’s why analysts always keep an eye on the price of it and predict it so as to tell about the trend that it may follow in the future.
So, in this blog, we bring you the top predictions told by various crypto analysts and also the trends it may follow in the future. It is important to get knowledge of these predictions and trends so as to make a better and biased investment decision. So, to know more about it, continue reading the article.
There are many predictions for the future of bitcoins as there are many analysts as well. But, here we bring you the top predictions that may affect the future of Bitcoin.
There has been a prediction by various analysts that more investors will adopt the leading cryptocurrency in the coming few years. Also, this will help to let people know more about cryptocurrencies. According to research, 33.7 million Americans own cryptocurrency in the U.S. Out of which, 36% own bitcoin which is a large percentage in comparison to other altcoins.
Analysts predict that Bitcoin’s prices can be affected further due to the FTX Collapse. FTX collapse is one of the largest collapses in the world of crypto. The FTX is one of the world’s largest crypto exchanges which has a valuation of $32 Billion. The company got bankrupt in November 2022 causing a drastic effect on the whole crypto market.
Crypto regulation may form to make the trading of bitcoin and other cryptocurrencies in a more structured way. Analysts and Crypto Influencers believe that in the future more rules and regulations will come to scrutinize the crypto market. Moreover, it will help the users to prevent fraud or other malicious activity. However, it can impact many crypto platforms that are trying to fool people and make money from illegal processes.
Analysts predict that Bitcoin prices may see an increment as the bullish sentiment will remain to make dominance in the trading activity. Charles Edwards, a crypto analyst and founder of Capriole Investments, predicted that the Bitcoin price could reach around $100,000 in the next 12 months. Also, another crypto analyst with Twitter username TechDev has predicted that the price will go to somewhat 160-180K in December 2023.
Analysts believe that Bitcoin can also outperform the S&P 500 in terms of growth. S&P 500 or Standard or Poor’s 500 is an index that acts as a watchdog for the performance of 500 major publicly traded companies in the U.S. In recent news by Finbold, it is mentioned that Bitcoin has outperformed 97% of all S&P 500 companies in 2023. So, it is interesting to know whether it will outperform or underperform in the future.
In Conclusion, these are all the predictions and trends that will be given by crypto analysts with regard to the future of Bitcoin.
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