The first question in the answer to the following question is “What is your Bitcoin price prediction for the next five year period?” It is hard to say, but there are some consensus views on the future of the cryptocurrency. A majority of the panelists believe that the price of bitcoin will top $100,000 by 2022. That is still a way off, but it is not out of the realm of possibility.
Experts have used Fibonacci extensions, the Mayer Multiple approach, and the NVT to come up with a general forecast. This type of projection is often inaccurate, however, because supply and demand will not be the biggest factors in the price of Bitcoin in the next five years. Also, by 2030, most of the available BTC will have been mined. Consequently, supply and demand will be insignificant in the near future. However, acceptance of Bitcoin by different bodies will definitely affect the price.
In 2022, many industry professionals are speculating about the price of Bitcoin. As inflation becomes an increasing concern, many investors are seeking out safe haven assets to invest in. Bloomberg published a report on the future of the cryptocurrency on February 6, 2022. Despite the skeptics’ predictions, a majority of analysts are still bullish about the future of the cryptocurrency.