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SUSHI / BTC prediction: SushiSwap showing signs of life despite shrinking exchange market share

SUSHI / BTC prediction: SushiSwap showing signs of life despite shrinking exchange market share

SUSHI is well poised to see growth. These are the additional comments that I have.

Let’s track back to around two weeks ago. GoldenTree Asset Management has invested $5.3 million into SUSHI governance token. During that period of time, investors were all excited about the news. Social media mentions spiked to around 0.851%. They gained 14% in 24 hours back then.

5 days ago, we saw a plunge of around 20% when they announced their newly appointed CEO, Jared Grey. He was being accused of being involved in a couple of scam projects and once sexually assaulted a horse. The token price went down to around $1.0962 at that point. Jared has since written his statement and shared it on his personal Medium page to address all the allegations. The token has since traded higher to $1.51 this morning.

All these price movements are driven by news and this is no way sustainable. The need for SUSHI to continue to build, find new niches and new products are important for its growth. SushiSwap started with a “vampire attack” if you remember, it has drawn so much attention back then, personally I hope to see that kind of drive back to the platform.

Retail investors got to know this. In order for SUSHI to grow, SushiSwap got to continue growing in popularity. As much as I believe decentralised exchanges are the way forward, the competition is very high and it is ever changing. SUSHI or not, it all depends on how strong your team is. I look forward to their new developments.

SUSHI / BTC prediction: SushiSwap showing signs of life despite shrinking exchange market share

 

Since facing major losses in the crypto winter of 2022 cryptocurrencies have been struggling to resurface. Bitcoin (BTC) is down by 70% since its November 2021 highs while SushiSwap’s SUSHI fell by 94% since its all-time high of 14 March 2021, as of 21 October.

How do the two tokens trade against each other and what does the SUSHI to BTC forecast suggest amid the current bear market? Here we take  a look at the SUSHI/BTC pair and some of the factors that may shape its exchange rate.

What is SUSHI/BTC?

SUSHI/BTC is the exchange rate between SUSHI, the native cryptocurrency of the decentralised exchange (DEX) platform SushiSwap, and BTC, the native coin of the Bitcoin Network.

Joerg Hansen, Caiz Development GMbh’s CEO, told Capital.com that the SUSHI to BTC value is calculated in the same way that a fixed exchange rate is calculated and is based on the rates of up to 100 exchanges.

Bitcoin is the pioneer cryptocurrency launched in 2009 by a creator or group of creators using the anonymous nickname Satoshi Nakamoto. BTC is built, distributed, exchanged and stored on a collective network known as a blockchain, and the token is used for peer-to-peer payments.

The cryptocurrency is secured by a Proof-of-Work (PoW) consensus mechanism, which is how new bitcoins are mined. Miners gain BTC as rewards for solving mathematical equations that confirm whether a BTC transaction is legitimate.

Approximately every four years or once every 210,000 mined BTC blocks, the blockchain goes through a halving event, which is when the rewards given to miners are cut in half, decreasing the amount of bitcoins in circulation.

SushiSwap is a decentralised finance (DeFi) platform that aims to solve what it describes to be “the inability of disparate forms of liquidity to connect with markets in a decentralized way”. It creates automated liquidity pools through which anyone can swap a crypto token based on the ERC-20 Ethereum protocol for another ERC-20 token.

The platform’s Japanese food-themed ecosystem was launched in 2020 by an anonymous creator who calls themself Chef Nomi. The software is running on the Ethereum blockchain, and is often compared to other similar platforms like Uniswap (UNI) and Balancer (BAL).

SushiSwap uses a number of products to achieve full liquidity and decentralisation, and allows users to exchange, earn, lend and borrow digital assets, stack yields and leverage funds. In addition, SushiSwap has smart contract capabilities, which means it also supports the creation of non-fungible tokens (NFTs).

SUSHI coins are rewarded to users for maintaining liquidity on the platform. They can also be used for staking and governance.

SUSHI has a maximum supply of 150 million coins. Meanwhile, BTC’s maximum supply is capped at 21 million.

SUSHI to BTC price history

The SUSHI to BTC exchange rate surged by more than 235% in the first four days following its launch, up from 0.0002201BTC on 19 August 2020 to 0.0007436BTC, its all-time high. The SUSHI value in USD surged by 250%.

The SUSHI/BTC price chart shows that SUSHI was quick to dip against BTC as the exchange rate’s value lost over 95% of its gains in the following months, down to 0.00003331BTC by mid-November 2020.

SUSHI to BTC price chart, 2020 – 2022

At the start of 2021, SUSHI/BTC jumped 317.5% from 0.0001001BTC on 8 January 2021 to 0.0004179BTC on 5 February 2021, in line with a hike in the SUSHI price in USD as the platform announced the launch of MISO, a suit of open-source smart contracts.

SUSHI to USD price chart, 2020 – 2022

The bull trend in the SUSHI to BTC price chart lasted for the following five months and by 19 May 2021 the exchange rate reached 0.0005008BTC, up by 19.8% as the SUSHI ecosystem became compatible with the Polygon blockchain.

Following the positive trend, SUSHI/BTC fell by 60.2% down to 0.0001994BTC by 26 June 2021 and continued to fluctuate for the following four months seeing minor losses and gains.

By 16 September 2021, SUSHI/BTC reached 0.0003152BTC but within a month fell by 40%. Around this time, the BTC value in USD was picking up the momentum, surging by around 55% to reach its all-time high of $64,158.12 on 13 November 2021, up from $41,551.27 at the end of September 2021.

The SUSHI to BTC exchange rate continued to further decline and reached 0.0001069BTC by the beginning of December 2021. By the end of the month, the rate surged by 103% to 0.0002174BTC as the platform launched a migration to the Optics V2 bridge, but the trend was short lived.

In line with recent negative market sentiment, SUSHI/BTC has lost over 65% of its value with the pairing’s current exchange rate trading at  0.00006957BTC as of 21 October.

Caiz Deveopment’s Hansen noted that in terms of technical analysis, the SUSHI/BTC price is struggling:

“Based on technical indicators such as the Relative Strength Index (RSI) and important simple and exponential moving averages, SUSHI is currently in neutral territory and Bitcoin in a bearish one, which suggests that now is a bad time to exchange Sushi for Bitcoin.”

News driving SUSHI/BTC

At the start of October, Golden Tree Asset Management announced that it will stake $5.3m into SUSHI. Anndy Lian, chief digital advisor at the Mongolian Productivity Organisation and author of NFT: From Zero to Hero, told Capital.com that the announcement sparked enthusiasm in the online SUSHI community, but the hype was short-lived. Lian explained:

“Five days ago, we saw a plunge of around 20% when [SUSHI] announced their newly appointed CEO, Jared Grey. He was being accused of being involved in a couple of scam projects and once sexually assaulting a horse. The token price went down to around $1.0962 at that point,” Lian noted.

On 11 October, a Twitter user under the handle YannickCrypto alleged in a series of tweets that Grey was involved in a series of scam projects between 2012 and 2020. The user added that they met Grey in 2019. Other users chimed in, alleging that the CEO had also engaged in bestiality with a horse.

Grey addressed the scam allegations, saying they were “100% untrue”. But SUSHI did not resurface.

Caiz Deveopment’s Hansen told Capital.com that “sharply rising interest rates” have also been “poisonous” for the SUSHI to BTC exchange rate, as well as the declining trading volumes on cryptocurrency exchanges. He noted:

“Another important reason is the huge competition in the crypto exchanges. Since the bitcoin peak, the volume of the exchanges has fallen up to 60% this year. You can see a clear decline in crypto exchanges and coins like SUSHI because you don’t earn as much in fees at the moment.”

SUSHI/BTC forecast for 2022, 2023 and beyond

Based on the analysis of past performance, as of 21 October, the algorithm-based forecasting service Wallet Investor predicted that SUSHI/USD could fall to $0.0663 in 2023. The platform did not provide a price prediction for 2027.

In terms of its BTC price forecast, the site saw BTC/USD trade at $25,101.65 in 2023 and reach $46,783.81 by 2027.

While Wallet Investor did not provide a direct SUSHI to BTC forecast, data suggested that the exchange rate could be 0.0000025098BTC in 2023.

DigitalCoinPrice predicted that SHIB/USD could rise to $1.63 by the end of 2022. The site’s data, as of 21 October, showed that the coin was expected to trade at $2.18  in 2023 and $3.49  in 2025. Its long-term prediction saw the coin reaching $7.32 in 2030.

The site also gave an upbeat BTC/USD forecast, expecting the coin to grow to $24,108.19 by the end of 2022, $31,466.60 in 2023, $49,830.68 in 2025 and surpass $105,000 in 2030.

DigitalCoinPrice’s SUSHI to BTC forecast for 2022 expected the pair to reach 0.0000676119BTC and 0.0000692798BTC in 2023. The site’s SUSHI/BTC forecast for 2025 stood at 0.0000700372BTC. Its long-term SUSHI/BTC forecast for 2030 was 0.0000697143BTC.

Hansenalso  gave a bullish SUSHI to BTC price outlook:

“In my opinion, the SUSHI/BTC price will climb beyond what we have seen so far, mainly because of its popularity and resilience despite it being around since the beginning stages of DeFi.”

In order for SUSHI to regain past losses, the platform must continue to develop and “find new niches and new products”, Lian said. He added:

“SushiSwap started with a ‘vampire attack’ if you remember, it has drawn so much attention back then…As much as I believe decentralised exchanges are the way forward, the competition is very high and it is ever changing. SUSHI or not, it all depends on how strong your team is. ”

Remember that analysts’ and algorithm-based predictions can be wrong and shouldn’t be used as a substitute for your own research.

Always conduct your own due diligence on a cryptocurrency project before trading, looking at the latest news, a wide range of analyst commentary and technical analysis. Note that past performance does not guarantee future returns. And never trade money you cannot afford to lose.

 

Source: https://capital.com/amp/sushi-btc-prediction-sushiswap-bitcoin-exchange-market-share

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

熊市依旧在前进，比特币（BTC）能否逆转下行趋势？

熊市依旧在前进，比特币（BTC）能否逆转下行趋势？

自 2021 年 11 月创下历史新高以来，世界上最大的加密货币比特币( BTC ) 已贬值 70% 以上，与广泛的加密货币市场一致。严酷的加密货币冬天是由通胀飙升、经济衰退担忧中的避险情绪以及 TerraUSD (UST) 稳定币的崩盘引发的。

加密货币先驱会再次出现吗？我们来看看推动 2023 年及以后的 BTC/USD 预测的关键因素。

什么是比特币？

BTC/USD 是比特币兑美元的汇率。BTC to USD衡量购买一个比特币需要多少美元。

比特币创建于 2009 年，是第一个去中心化的数字货币，充当点对点支付系统。它不使用中央机构或银行来管理交易，而是“由网络共同组织”。

加密货币是由化名中本聪的匿名个人或一群人发明的。此后，它已成为最受欢迎的数字资产之一。第一个 BTC 代币，即所谓的创世区块，于 2009 年 1 月开采。

比特币的区块链使用工作量证明 ( PoW ) 共识机制，由矿工验证 BTC 交易以换取 BTC 奖励来保护。这个过程被称为加密挖掘。

这些奖励在每挖出 210,000 个区块或大约每四年一次减半事件后减半，从而减少流通中的整体 BTC 代币数量，并通过减少供应来提高加密货币的价格。

最近的减半事件发生在 2021 年 5 月 11 日，当时比特币的区块奖励减少到 6.25BTC。下一个减半事件估计发生在 2024 年。

除了作为“电子现金的点对点版本”之外，比特币现在还被用作价值存储。比特币的最大供应量为 2100 万个代币。

BTC价格历史

自 2009 年推出以来，BTC 花了大约 8 年时间才飙升至 1,000 美元以上。2017 年，该加密货币表现良好，从 2017 年 1 月初的 1,044.4 美元到 2017 年 12 月 20 日的 17,760.3 美元，在一年内上涨了 1,600% – 创历史新高。

然而，2018 年初的大幅抛售干扰了比特币的价格，到 2018 年 2 月 8 日，比特币的价格跌至 7,637.86 美元。到 2018 年 12 月 10 日，比特币继续下跌至 3,000 美元。

加密货币在 2019 年 7 月初再次达到顶峰，在短时间内超过 12,000 美元，随后损失超过 58% 的价值，到 2020 年 3 月 13 日跌至 5,000 美元。

2021 年，加密货币再次迎来了历史上最大的牛市。到 2021 年 1 月 8 日，该代币的价值约为 39,000 美元。2021 年 4 月 16 日，比特币达到了 63,258.51 美元的第一个峰值——飙升了约 62%。BTC 的价格继续上涨，在 2021 年 11 月 9 日达到 67,549.74 美元的历史新高。

2022 年，该代币经历了迄今为止最严酷的加密冬天之一，自 2021 年 11 月的高点以来下跌了近 72％，目前（10 月 12 日）徘徊在 19,000 美元。是什么塑造了 BTC/USD 的预测？

加密货币市场在 2022 年受到多种因素的影响，例如乌克兰战争、TerraUSD (UST) 稳定币崩盘和通胀上升。Castle Funds 总裁兼首席投资官 Peter Eberle 告诉 Capital.com：

“2022 年上半年对股票、债券和加密市场来说是可怕的。俄罗斯入侵乌克兰、美国政策制定者缓慢意识到通胀是真实的、然后积极转向加息、中国新冠政策导致的供应链问题等宏观因素的汇合，都导致整个市场出现大幅抛售。 ”

Eberle 补充说，Terra 的“崩盘”导致其姊妹加密货币 LUNA 随后下跌，“造成跨多个平台的级联清算”，不仅影响了 BTC/USD 价格，还影响了包括三箭资本和摄氏度在内的多家对冲基金网络。

6 月 9 日，比特币一度突破 31,000 美元，但很快就变成了抛售，导致比特币损失了 90% 以上的小幅收益，10 天后跌至 19,000 美元。从那时起，BTC 一直在波动，交易价格在 23,000 美元至 19,000 美元之间。

“在第二季度末，业内许多人都在等待众所周知的‘下一只鞋要掉’，但幸运的是事情平静了下来，”Eberle 指出。

蒙古生产力组织首席数字顾问、《NFT：从零到英雄》的作者 Anndy Lian 表示，比特币的价格取决于美联储 ( Fed ) 会议的结果和货币政策收紧的决定，以及最新的通胀数据如生产者物价指数（PPI）和消费者物价指数（CPI）。

“不过，我并不悲观。矿业公司经历了艰难时期。尽管哈希率很高，但比特币的价格并没有显着上涨。这表明矿工们并没有通过堆积网络来获得比特币的巨大收益，他们相信，由于网络已被证明具有持久力，挖矿业务将会做得很好。”

Capital.com 的季节性研究显示，从历史上看，10 月一直是加密货币的好月份，自 2011 年以来，10 月比特币的价格变化平均上涨了 14.6% 。然而，事实证明今年有所不同。Castle Fund 的 Eberle 指出：

“2022 年第三季度，加密市场出现整合，而股票和债券继续下滑。道琼斯工业平均指数下跌 6.2%，比特币下跌 2%，但波动性显着降低，更广泛的加密货币市值增长 8.5%。”

Eberle 补充说，比特币兑美元的预测目前主要关注宏观事件，特别是美联储的利益决定、俄罗斯-乌克兰冲突的未来结果以及定于 11 月 8 日举行的美国中期选举。此外，Eberle 还添加了一些关于比特币过去减半事件的历史展望：

“2015 年 BTC 在减半前 547 天触底，而 2018 年则在 517 天前触底。下一个减半估计发生在 2024 年 4 月或 5 月，因此如果历史重演，我们应该接近下一个牛市的开始。”

BTC预测 2022 年及以后

尽管最新的价格走势下跌，但基于算法的预测服务Wallet Investor在撰写本文时（10 月 12 日）给出了看涨的 BTC/USD 预测。该网站指出，BTC 是“一项非常好的长期投资”。

根据对过去价格表现的分析，WalletInvestor 预测 BTC/USD 可能在 2023 年交易价格为 25,373.90 美元，并在 2027 年飙升至 47,496.74 美元。

DigitalCoinPrice支持积极的 BTC / USD 预测，但在接下来的几年中增长速度更快，预计到 2022 年底该加密货币将达到 24,206.47 美元，到 2023 年底达到 43,340.43 美元。

其对 2025 年的 BTC/USD 预测显示，该加密货币平均达到 77,238.07 美元，2027 年达到 94,929.40 美元。该平台对 2030 年的长期 BTC/USD 预测预计该加密货币平均将飙升至 266,189.92 美元。

Lian 确实分享了对 BTC 兑美元预测的看涨情绪：

“比特币价格徘徊在 19,400 美元左右，上周上涨 1.9%。缩小，它在过去 30 天里上涨了 1%。除非我们看到标准普尔 500 指数跌至 3200 点，否则比特币可能跌破 13,000 美元区域，否则我认为未来几周它将继续横盘整理。”

然而，Lian 指出，要强调的一个积极方面是比特币的哈希率继续飙升。

请注意，BTC/USD 预测可能是错误的。不应使用分析师和基于算法的预测来替代您自己的研究。

始终在交易前对股票进行自己的尽职调查，查看最新消息、广泛的分析师评论、技术和基本面分析。请注意，过去的表现并不能保证未来的回报。永远不要交易你不能承受损失的钱。

在加密行业你想抓住下一波牛市机会你得有一个优质圈子，大家就能抱团取暖，保持洞察力。如果只是你一个人，四顾茫然，发现一个人都没有，想在这个行业里面坚持下来其实是很难的。

 

Source: https://www.sohu.com/a/592238863_121420475

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

BTC / USD forecast: Can bitcoin reverse downward trend as crypto winter bites?

BTC / USD forecast: Can bitcoin reverse downward trend as crypto winter bites?

Since its November 2021 all-time high, Bitcoin (BTC), the world’s biggest cryptocurrency, has lost over 70% of its value, in line with the broad cryptocurrency markets. The harsh crypto winter was sparked by surging inflation, risk-off sentiment amid recession fears and the crash of the TerraUSD (UST) stablecoin.

Will the cryptocurrency pioneer ever resurface? We take a look at the key factors driving the BTC/USD forecast in 2023 and beyond.

What is BTC/USD?

BTC/USD is the exchange rate of bitcoin against the US currency. BTC to USD measures how many USD are required to purchase one bitcoin.

Created in 2009, Bitcoin, the first ever decentralised digital currency, acts as a peer-to-peer payments system. It uses no central authorities or banks to manage transactions, which are instead organised “collectively by the network”.

The cryptocurrency was invented  by an anonymous person or group of people under the pseudonym Satoshi Nakamoto. It has since established itself as one of the most popular digital assets. The first ever BTC token, the so-called genesis block, was mined in January 2009.

Bitcoin’s blockchain uses a Proof-of-Work (PoW) consensus mechanism, which is secured by miners verifying BTC transactions in exchange for BTC reward. The process is known as crypto mining.

These rewards are cut in half after every 210,000 blocks are mined, or approximately every four years, in halving events, thus reducing the amount of overall BTC coins in circulation and raising the cryptocurrency’s price by cutting supply.

The most recent halving event took place on 11 May 2021, when bitcoin’s block reward was reduced to 6.25BTC. The next halving event is estimated to take place in 2024.

In addition to being a “peer-to-peer version of electronic cash” bitcoin is also now used as a store of value. Bitcoin has a maximum supply of 21 million tokens.

BTC/USD price history

It has taken BTC to USD around eight years to surge past $1,000 since its launch in 2009. In 2017, the cryptocurrency saw a good run, rising by 1,600% within a year from $1,044.4 at the start of January 2017 to $17,760.3 by 20 December 2017 – a then all-time high.

However, a steep sell-off at the start of 2018 interfered, bringing the bitcoin’s price down to $7,637.86 by 8 February 2018. BTC continued to decline falling to $3,000 by 10 December 2018.

The cryptocurrency peaked once again in the beginning of July 2019, surpassing $12,000 for a brief time before losing over 58% of its value and dropping to $5,000 by 13 March 2020.

BTC/USD RATE 2017-2022

In 2021, the cryptocurrency enjoyed another bull run, the biggest in its history. By 8 January 2021, the token was valued at around $ 39,000. On 16 April 2021, bitcoin reached its first peak at $63,258.51 – a surge of around 62%. BTC’s price continued to rise, reaching the all-time high of $67,549.74 on 9 November 2021.

In 2022, the coin has been experiencing one of the harshest crypto winters yet, losing nearly 72% since the November 2021 highs, and is currently (12 October) hovering at $19,000.

What’s shaping the BTC/USD forecast?

The cryptocurrency market has been affected by a number of factors in 2022 such as with the war in Ukraine, the collapse of the TerraUSD (UST) stablecoin and rising inflation. Peter Eberle, president and chief investment officer of Castle Funds, told Capital.com:

“The first half of 2022 was horrible for equity, bond and crypto markets. A confluence of macro factors such as Russia’s invasion of Ukraine, US Policy makers’ slow realisation that inflation was real, then the aggressive pivot to higher interest rates, supply chain issues due to China’s Covid polices all led to a steep sell off across markets.”

Eberle added that Terra’s “meltdown”, which led to the subsequent fall of its sister cryptocurrency, LUNA, “created cascading liquidations across multiple platforms”, affecting not only the BTC/USD price but also several hedge funds, including Three Arrow Capital and Celsius Network.

On 9 June, bitcoin briefly traded above $31,000, however, this soon turned into a selloff, which saw the cryptocurrency lose over 90% of its minor gains, falling to $19,000 10 days later. Since then, BTC has been fluctuating, trading between $23,000 and $19,000.

“At the end of the 2nd quarter many in the industry were waiting for the proverbial ‘next shoe to drop’, but fortunately things calmed down,” Eberle noted.

Anndy Lian, chief digital advisor at the Mongolian Productivity Organisation and author of NFT: From Zero to Hero, said that bitcoin’s price depends on the outcomes of the Federal Reserve’s (Fed) meetings and decisions on monetary policy tightening, as well as latest inflation readings such as Producer Price Index (PPI) and the Consumer Price Index (CPI).

“However, I am not pessimistic. The mining companies have endured tough times. Despite the high hash rate, bitcoin’s price has not significantly increased. This signals that the miners are not piling the network to obtain big gains on bitcoin, they are confident that the mining business will do well now that the network has proven staying power.”

Historically, October has been a good month for cryptocurrencies, with bitcoin’s price change averaging at 14.6% gain in October since 2011, Capital.com’s seasonality research showed. Yet this year proves to be different.  Castle Fund’s Eberle noted:

“The third quarter of 2022 showed consolidation in the crypto market while equities and bonds continue to slump. The Dow Jones Industrial Average dropped 6.2%, Bitcoin dropped 2% but saw significantly lower volatility and the broader crypto market capitalization increased by 8.5%.”

Bitcoin to US dollar forecasts are currently focusing on macro events, Eberle added, specifically the Fed’s interest decisions, the future outcomes of the Russia-Ukraine conflict and the US midterm elections that are due to take place on 8 November. In addition, Eberle added some historical outlook concerning bitcoin’s past halving events:

“In 2015 BTC bottomed 547 days before the halving and in 2018 is occurred 517 before. The next halving is estimated to happen in April or May of 2024 so if history repeats we should be nearing the beginning of the next bull market.”

BTC/USD forecast 2022 and beyond

Despite the latest downward price action, algorithm-based forecasting service Wallet Investor gave a bullish BTC/USD forecast at the time of writing (12 October). The site noted that BTC was “a very good long-term investment”.

Based on its analysis of past price performance, WalletInvestor predicted that BTC/USD could trade at $25,373.90 in 2023 and surge to $47,496.74 in 2027.

DigitalCoinPrice supported the positive BTC/USD forecast but saw a speedier pace of growth in the following years, expecting the cryptocurrency to reach $24,206.47 by the end of 2022 and $43,340.43 by the end of 2023.

Its BTC/USD forecast for 2025 showed the cryptocurrency reaching $77,238.07 on average and $94,929.40 in 2027. The platform’s long-term BTC/USD forecast for 2030 expected the cryptocurrency to surge to $266,189.92 on average.

Lian did share the bullish sentiment on BTC to USD forecast:

“Bitcoin price hovers around $19,400, up 1.9% in the last week. Zooming out, it has gained 1% in value for the past 30 days. Unless we see the S&P 500 go down to 3200, bitcoin can go below the $13,000 region, else I think it will continue to trend sideways for the next few weeks.”

However, Lian noted that a positive aspect to highlight would be bitcoin’s hash rate which continues to surge.

Note that BTC/USD predictions can be wrong. Analysts’ and algorithm-based predictions shouldn’t be used as a substitute for your own research.

Always conduct your own due diligence on the stock before trading, looking at the latest news, a wide range of analyst commentary, technical and fundamental analysis. Note that past performance does not guarantee future returns. And never trade money you cannot afford to lose.

 

Source: https://capital.com/btc-usd-forecast-dollar-bitcoin-price

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
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