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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Why Bitcoin Could Hit $90K By The End Of 2022, According To This Prediction

Reynaldo Marquez
Reynaldo Marquez
1 year ago
3 mins read
Bitcoin

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The price of Bitcoin has been recovering after a major slump into the low $30,000s. As of press time, BTC trades at $37,774 with a 1.9% profit in the last 24-hours and could see more gains in the short term.

Related Reading | Fidelity Says What We’ve Been Thinking: Countries & Central Banks Will Buy BTC

Bitcoin BTC BTCUSD
BTC on a downtrend in the 4-hour chart. Source: BTCUSD Tradingview

Bitcoin’s most recent recovery could be tied to the relief in the traditional market. At the time of writing, the S&P 500 Index records a +105 points or 1.44% profit in the 4-hour chart.

The cryptocurrency has displayed high levels of correlations with U.S. stocks and could continue to track them in the short term. In that sense, Bitcoin bulls could find backup on a sustained stock relief rally.

Data from Material Indicators shows some resistance, in lower timeframes, above BTC’s price current levels. Therefore, $39,000, and $40,000 have become important resistance levels that need to turn into support.

In case of further downside, Material Indicators records around $3 million in biding orders for Bitcoin near $36,000.  These levels could operate as critical support on a bearish scenario, for lower timeframes, and must hold in order to prevent a re-test of previous lows near $33,000.

In the coming months, the bullish momentum could resume at full force, according to a report conducted by Finder. After consulting with a panel of 33 experts on the potential price scenarios for Bitcoin across multiple timeframes.

The consensus amongst these experts is bullish, a prediction that defies current market sentiment. The potential increase in interest rates by the U.S. Federal Reserve could operate as a headwind for Bitcoin. At least, this seems to be the dominating narrative for some market operators.

A Bitcoin Rally Before Another Multi-Year Bear Market?

As seen below, the experts have progressively flipped their bias from bullish for the better part of January, to neutral in the past week, and bearish for the week of February 6, 2022. The potential impact from the interest rates hike by the FED, the experts say, will remain a top concern for investors during the first part of the current year.

(The) first half of 2022 will be dominated by concerns over higher interest rates, which will impact all risk assets including Bitcoin. We wouldn’t be surprised to see Bitcoin decline a further 30% from current levels.

In that sense, over 50% of the interview panel believe Bitcoin could come out on top on an increasing interest rate scenario. The experts believe BTC’s price will peak at $93,717 in the next months, only to return to a $76,360 by the end of 2022.

Bitcoin BTC BTCUSD
Source: Finder’s Bitcoin Price Predictions Report

Related Reading | Bitcoin Bearish Signal: Binance Observes Massive Inflow Of 10k BTC

BTC’s price rally will be drive by more inflation. As NewsBTC has been reporting, Mike McGlone, Senior Commodity Strategist for Bloomberg Intelligence, has a similar point of view and has claimed the cryptocurrency will start to outperform stocks, and other risk-on assets. Finder’s panel added:

It is possible that the asset bubble the Fed created by keeping interest rates near 0% for over a decade may spill over into Bitcoin. However, the cryptocurrency has the gold-like fundamentals and trust to weather the storm better than its peers.

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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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