Bitcoin’s price has dropped by more than 60% this year and is now stuck between $18,000 and $19,000. Getting as many people as possible to use your cryptocurrency is not easy. The value of every other cryptocurrency has dropped sharply since Bitcoin’s value started going down.
Since the market has gone down, investors have stopped investing money. In 2017, when Bitcoin hit a new all-time high of over US$69,000, the cryptocurrency market reached its peak. But when the market kept falling, it broke through the strong resistance of digital assets and made the market very unstable. Log on to check best altcoins to invest , on official website that simplified trading.
Recent articles about how the price of Bitcoin might change say that the value of the cryptocurrency is likely to keep falling. People are paying more attention to the price of bitcoin, even though the prices of all other assets are falling sharply. Some experts think the price of Bitcoin will reach $30,000 by the end of 2022. Some business people think that the price of BTC will drop to US$10,000.
On the other hand, some experts and cryptocurrency fans think that the price of bitcoin will fall below USD 10,000 before bouncing back and going up. But it’s very important for people who use cryptocurrencies to learn how the prices of different ones change and invest in them based on how likely they are to lose money. If you want to invest, you might not be able to trust any single report about how much Bitcoin will be worth in the future.
The most recent CPI reports brought Bitcoin closer to the crypto slumber
Investors are very careful with their money because of how the economy is doing. As soon as the new CPI numbers came out, the price of bitcoin started to fall quickly. Even though the inflation rate in consumer prices in the United States slowed down in September compared to August, the inflation rate is still going up. Since the study was released, the price of bitcoin has fallen to its lowest level since September.
Worth about 3% less. When the price of Bitcoin hit $18,000, other cryptocurrencies dropped quickly and by a lot. Due to the recent drop, many investors and experts now think the cryptocurrency price will go over $10,000 US dollars by the end of 2022.
The bitcoin price predictions from Cointelegraph and TradingView also showed that BTC/USD was likely to drop even more. This is because the core inflation trends shook up the market for digital assets by showing that the way inflation numbers were going down had changed. The market for digital assets got messed up because of this.
From its previous level of 8.3%, the CPI was expected to drop to around 8%. The prices of both the CPI and Bitcoin are affected by how investors feel about them. As things got worse, the price of Bitcoin went down, which made people worry even more about a sell-off.
How likely is it that the bitcoin price will go up to $30,000 or down to $10,000?
FXStreet looked at what people thought would happen to the price of bitcoin and found that it is unlikely to jump by close to US$30,000 right now. Also, even if its price went up, it wouldn’t impact the cryptocurrency market as a whole. Before the cryptocurrency tries again to break through the $30,000 barrier, its value could drop quickly and fall below $15,000. This barrier is very important for the primary cryptocurrency at this point. If Bitcoin doesn’t reach this goal again, there will be a big sale of digital assets on the market. Not a good way to start the year 2023.