Experts Say Bitcoin Could Hit $100,000 In 2022. Here’s What Investors Should Know

time.com:

It’s been a rocky start to the year for Bitcoin, but experts still say it will hit $100,000 — and that it’s more a matter of when, not if.

Bitcoin’s price gave up some gains on Thursday after a recent rally, though “we could still see further bullish momentum as price breaks above key trading ranges,” according to Edward Moya, a senior market analyst at brokerage firm Oanda. The largest crypto was trading above $22,000, down nearly 5% over the last 24 hours.

“Peak pessimism is close to getting priced in and crypto was the punching bag for that trade,” Moya says. “The risks remain elevated but selling pressure seems to be throwing in the towel for now.”

Moya says Bitcoin is showing some signs of stabilizing, but the market may not be out of the danger zone yet. Bitcoin has fallen below $20,000 — a key price point — several times in recent weeks and “sellers are eagerly watching to see if the June lows will hold,” he says. The latest crypto market crash in June was spurred by momentary de-risking from Wall Street as many investors are feeling pessimistic about the economy amid surging inflation, a shaky stock market, and rising interest rates. The crypto market has increasingly tracked the stock market in recent months, which makes it even more intertwined with global economic factors.

In addition to macroeconomic factors, Martin Hiesboeck, head of blockchain and crypto research at Uphold, says investors fear the crypto industry’s long-term viability after several major crypto players halted withdrawals, cut jobs, and tried to stem losses in recent weeks. However, crypto prices are much more vulnerable to factors contributing to the difficult economic situation than the pullback in the crypto ecosystem, he says.

“The market