Will 2022 Be Bull Run For Bitcoin Again?

Will 2022 Be Bull Run For Bitcoin Again?

2022-01-18 | Robin Williams

Will 2022 Be Bull Run For Bitcoin Again?

According to Business Insider, Invesco analyst Paul Jackson has cautioned that the Bitcoin price might go under $30,000 in the near future.

He believes that such a pessimistic situation has a good 30% probability of becoming a reality.

The Bitcoin market's irrational euphoria recalls Jackson of the period preceding the Great Depression.

The biggest crypto was trading just over $41,800 on key spot platforms.

Another of the major barriers for Bitcoin at present is the Federal Reserve's aggressive tilt. The central bank is likely to raise interest pricing three times this year, trying to exert strain on risk assets like equities and cryptos.

btc

BTC/USD 1 DAY PRICE CHART: SOURCE - COINMARKETCAP.COM

On the technical front, the biggest crypto lately established a "death cross," which is intended to presage a huge correction but is typically a trailing trader, with certain traders viewing it as a buying potential.

Notwithstanding certain gloomy storylines, there are plenty of positive price forecasts. Fundstrat's Tom Lee, for example, reckons Bitcoin might reach $200,000 as early as this year.

The crypto's hash rate continues to reach new highs, indicating that miners are spending more on the network. As per Max Keiser, this might push Bitcoin up to $220,000 this year.

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