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Fintech specialists at Australia-based comparison platform Finder are forecasting Bitcoin (BTC) to be worth between $81,000 and $65,000 by the end of the year.
In a quarterly poll conducted by Finder this month, a panel of 35 industry experts have predicted that BTC will peak at $81,680 before falling to $65,185 by the end of 2022, with speculation surging that it will last until 2025 will rise to $179,000.
As optimistic as this sounds, it’s a slightly lower estimate than the panel’s previous opinion three months ago, which predicted $76,360 for BTC by the end of the year. Their collective view has since changed due to new circumstances and newer economic cues.
Additionally, the panel’s current forecast for the value of BTC through 2025, according to this month’s survey, is a 7% drop from the $192,800 value forecast in January.
However, what appears more promising in the April survey is the panel’s BTC forecast for late 2030, which estimates a value of $420,240 for a BTC, as opposed to the previous forecast of $567,472.
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Additionally, in a separate poll conducted weekly by Finder, five fintech specialists shared their vision of the trend that BTC will follow in two weeks. Of the five, three forecast an uptrend, none of the specialists were neutral and two were bearish.
For context, in last week’s poll, one of the five specialists was bullish, one was neutral, and three were bearish.
HODLing BTC?
While it seems that the pundits have lowered their long-term expectations for BTC, most of them still see BTC as a worthwhile investment.
67% of the participating panel members believe buying BTC at this time is a wise decision, while 9% believe it is better to sell BTC in one’s portfolio. 24% of them think holding their BTC is now the right thing to do.
Some of the reasons given by participating members for moving away from BTC are BTC’s reliance on fossil fuels and environmental concerns.
Among those who believe now is the time to buy BTC is Blockware Solutions analyst Joe Burnett, who believes BTC is the only asset in the world “with no counterparty risk and no risk of dilution,” calling it “the best saving technology in the world”.
Experts Are Long-Term Bullish On Bitcoin
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 year-end, with most despite the lows that have plagued the crypto market of late have, are optimistic.
BTCUSD chart from TradingView
For example, Nexo CEO Antoni Trenchev, speaking to CNBC, noted that he believes BTC will reach $100,000 within a year as he is not particularly optimistic about the near-term performance of the asset.
Last year, venture capitalist Tim Draper suggested $250,000 for BTC by the end of 2022 or early 2023, although it’s unclear if the billionaire’s views on the recent economic turmoil have changed recently.