Bitcoin, the most important and widely adopted cryptocurrency in the world, could reach $100.000 in 2022, according to predictions by Nayib Bukele, Antoni Trenhcev and Goldman Sachs.
Although the price of Bitcoin has dropped 12% since the beginning of this year, the call from several leaders of the crypto community is to remain positive and optimistic about the price of the cryptocurrency. Nayib Bukele y Antoni Trenhcev were among the first leaders to point out that the price of Bitcoin will reach a 6-figure value this year. Bukele and Trenhcev's bullish prediction is based on the massive growth in the adoption levels of the cryptocurrency and the arrival of more major institutional investors, who are basing their treasuries on Bitcoin (BTC)Bukele even predicts that two other governments in the world will join the adoption of Bitcoin in 2022, increasing the importance and value of BTC in the market.
Let us remember that analysts such as Plan B, Anthony Scaramucci, founder of SkyBridge Capital and Mike McGloneBloomberg Intelligence specialists pointed out in 2021 that the world's leading cryptocurrency would reach a 6-figure value by the end of that year; marked by the explosive growth of the crypto industry. However, the predictions failed and Bitcoin closed 2021 with a downward trend, which placed its price at $46.800 per unit; 32% less than its historical maximum of $69.044 last November.
Now, without losing sight of the true value of Bitcoin, which goes far beyond its unit price, analysts and crypto leaders are considering what will possibly happen in the future of Bitcoin. It should be noted that the objective of this article is not to speculate on the price of the cryptocurrency, but to provide a vision of why the importance that Bitcoin has gained in the world is leading several leaders of the crypto community to predict its next value, in a year that promises to be full of innovation, growth and development.
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Nayib Bukele's predictions about Bitcoin
For El Salvador's President Nayib Bukele, 2022 will be a year of great success and adoption for Bitcoin. On his Twitter account, Bukele wrote that the market-leading cryptocurrency will touch $100.000 this year, driven by increased adoption around the world. Bukele foresees that two new countries will join the regulation and acceptance of Bitcoin as the money of the XNUMXst century and that more American politicians will focus their campaigns on this cryptocurrency. In addition, the new opportunities that his nation will offer with the construction of bitcoin city will increase interest in this digital asset.
Antoni Trenhcev, don't underestimate BTC
Nexo co-founder Antoni Trenhcev also sees the cryptocurrency hitting $100.000 per unit by 2022. Trenhcev noted that institutional adoption and the yield opportunities that Bitcoin offers as an investment asset for millions around the world will double the price of the cryptocurrency in the coming months. CNBC pick up that Trenhcev's predictions about Bitcoin could possibly come true by mid-year, according to the cryptocurrency lender.
Antoni Trenhcev, who runs one of the world's largest financial institutions with over 2,5 million users, highlighted the impressive growth that BTC had in 2020 and 2021; with a return of over 1.000% and 63%, respectively. The crypto lender also highlighted the importance that crypto assets have gained in Latin American markets, pointing to the development of new use cases and utility for Bitcoin and cryptocurrencies. Therefore, he concluded that it is “quite optimistic” in relation to the future price of BTC.
Goldman Sachs: Bitcoin vs Gold
American investment bank Goldman Sachs is another one of those that have expressed optimism regarding the price of Bitcoin. Goldman Sachs estimates that the cryptocurrency could grow exponentially to reach a value of 6 figures in the next 5 years, if it loses dominance of gold in the reserve market. In a note Recently, the US bank highlighted the possibility of Bitcoin reaching $100.000 per unit, and even surpassing this value, if it could reach 50% of gold's market share; to encourage the reallocation of capital by investors from the precious metal to the cryptocurrency.
“We believe that bitcoin’s market share will likely increase over time as a byproduct of broader adoption of digital assets.”
Filbfilb, the most extravagant in relation to BTC
Trader, investor and co-founder of Decentrader, Filbfilb The cryptocurrency is targeting a price of $300.000 per unit for Bitcoin this year. According to its predictions, the market-leading cryptocurrency could reach this value if the Fed fails to achieve its goals of raising rates and reducing inflation. Filbfilb told Cointelegraph that new investors will flock to the safety of Bitcoin, as a store of value asset, if the US Federal Reserve fails to raise rates and inflation continues to rise.
Arcane Research, BTC and S&P 500
For the research and analysis company blockchain, Bitcoin will continue to perform strongly in 2022. Arcane Research published a report highlighting that the cryptocurrency's growth almost tripled the performance of the S&P 500 in 2021. The stock market index, one of the most important in the United States, had a return of 28% in the last year, while Bitcoin, despite corrections and volatility in its price, grew 63%; appearing as one of the assets with the highest returns in the market last year.
Not so bullish
Although several crypto community leaders agree that 2022 will be a year of great growth and innovation for Bitcoin and its price, other analysts such as the professor of finance at the University of Sussex, Carol Alexander, predict a further bear market for the crypto industry this year.
A stricter regulatory environment for crypto assets and more aggressive actions by the US Federal Reserve (FED) to strengthen its monetary policy and control inflation levels could push the price of BTC down to $35.000 and even $10.000 per unit, Alexander said. Also, the perception of many institutional investors about Bitcoin as a high-risk asset could collapse the price of the cryptocurrency in the market, at least in the short term.
Chris Brown, founder of hedge fund Aristides Capital and a Bitcoin detractor, also sees 2022 as a bearish year for the crypto industry as a whole; especially if the FED “manages to raise rates enough to make money considerably less loose”.
Bitcoin Popularity
It is undeniable that 2021 was a year marked by the explosive growth of Bitcoin and the crypto industry. Among many things, El Salvador and Brazil led the adoption and investment in cryptocurrency in Latin America, while the United States took an important step towards the growth of the crypto industry in the country, authorizing the creation of the first Bitcoin futures ETF in its territory.
All the advancements that Bitcoin and cryptocurrencies have brought about have made the crypto industry more important and meaningful today. The levels of education and knowledge of society about cryptocurrencies and their potential for innovation and development also increased significantly in 2021. According to data According to Google Trends, although searches for Bitcoin are showing signs of slowing down at the moment, in the month of May they shot up to a score of 100. Grayscale He also noted that retail investor interest in BTC has skyrocketed in 2021, leading to 25% of US investors placing their trust and investing in the cryptocurrency. All of this combined with a shortage and decreasing supply of Bitcoin on the market suggests a huge boost and growth for the cryptocurrency this year.
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