Fintech specialists for Australia-based comparison platform Finder predict a value of $81k-$65k for Bitcoin (BTC) At the end of the year.
In a quarterly survey conducted by Finder this month, a panel of 35 industry experts forecast that BTC will peak at $81,680 before falling to $65,185 by the end of 2022 with speculation that it will rise to $179,000 by 2025.
As optimistic as it sounds, it is a slightly lower estimate than the panel’s previous opinion three months ago, which predicted a value of $76,360 for BTC by the end of the year. Their collective point of view has changed since then, due to new circumstances and new economic indicators.
Furthermore, the current panel prediction for the value of BTC by 2025 based on this month’s survey is a 7% drop from the $192,800 value predicted in January.
What looks most promising in the April survey, however, is the panel’s BTC prediction for the end of 2030, which estimates a value of $420,240 for one BTC compared to the previous forecast of $567,472.
Furthermore, in a separate survey administered weekly by Finder, five fintech specialists shared their idea of the trend BTC will follow two weeks from now. Of the five, three forecast an uptrend, none of the specialists were neutral and two were bearish.
For context, in the survey conducted last week, of the five specialists, one was bullish, one neutral, and three bearish.
While it seems that experts have lowered their long-term expectations of BTC, most of them still see BTC as a worthwhile investment.
67% of participating panel members believe that buying BTC right now is a wise decision, while 9% believe that it is better to sell any BTC in the portfolio. 24% of them think that now is the right to have their BTC.
Some of the reasons participating members cited for moving away from BTC include BTC’s dependence on fossil fuels and environmental concerns.
Among those who believe that now is the time to buy BTC is Blockware Solutions analyst Joe Burnett, who believes that BTC is the only asset in the world with “no counterparty risk and no dilution risk”, calling it “the best saving technology in the world.
Experts are bullish on Bitcoin in the long run
With BTC currently trading at $39,535 (down 0.89 percent on the day), most traders and analysts have mixed forecasts for the asset’s value by the end of the year, with most optimistic despite the lows. that have plagued the crypto market in recent times.
Nexo CEO Antoni Trenchev, for example, speaking to CNBC, noted that he believes BTC will reach $100,000 within a year, as he is not particularly optimistic about the short-term performance of the asset.
Last year, the venture capital investor Tim Draper suggested a value of $250,000 for BTC by the end of 2022 or early 2023, although it is not clear if the billionaire’s views have changed recently regarding the recent economic turmoil.