Bitcoin had a bearish weekly close, as the price dipped further below $40,000.
In addition, the experts expect BTC’s price to continue its multi-decade long rally to $179,000 by 2025 and over $400,000 by 2030.
As noted by Find, the panel changed their short-term views for BTC’s price.
In that sense, Bitcoin could stay stuck between $30,000 to $50,000 and frustrate the expectations of the entire market.
BTC tends to move opposite of what the majority desires.
the conversations around the environmental impact of mining may lead to blanket bans of crypto mining activities, which could additionally contribute to Bitcoin scarcity and the increased prices as a store of value.
In that sense, most of Finder’s expert panel believes BTC will be replaced as the number one crypto in terms of popularity.
As seen below, 50% of the panel expects this outcome while 12% answered unsure of this question.
Optimistic experts believe Bitcoin could see as much as $100,000 by end of the year on the back of people losing trust in central banking and governments.
Increasingly, ‘trust’ is becoming a central consideration for investors – can we trust the economic system and the power brokers driving it? Trust has been lost and, with the economy in uncharted territory, Bitcoin is forming a viable alternative solution.
NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins.