Experts cut Bitcoin’s 2022 price outlook to slightly less bullish: report – Yahoo Finance

A panel of 35 crypto professionals have grown collectively less confident on the year-end target price for Bitcoin, although they expect the dominant cryptocurrency to end significantly higher than current levels and even set a new all-time high, according to a report by Finder.
See related article: Bitcoin crosses $47,000 mark as crypto surges in Monday’s market
The expert panel forecast Bitcoin would close out 2022 at US$65,185, or 15% lower than the end-of-year target of US$76,360 issued in January, according to Finder’s quarterly report for April released on Wednesday.
The panel forecast the BTC price at US$179,280 by 2025 and US$420,240 by 2030, a drop of 13% and 25% respectively compared to their predictions in the October quarterly report.
Still, the panel expects Bitcoin to reach a new all-time high of US$81,680 this year, according to an average of the 35 fintech and cryptocurrency specialists polled.
About 50% of the panel believes Bitcoin will eventually be dethroned by a more advanced blockchain in terms of being the most popular cryptocurrency, although no time frame was specified.
“As well as private crypto being replaced by CBDCs, and a general collapse of the speculative bubble, I think Bitcoin will lose out to Ethereum which has a stronger use case,” University of Canberra senior lecturer John Hawkins was cited as saying in the survey.
Morpher CEO Martin Fröhler believes conditions support ongoing gains for Bitcoin, according to the report, which cited him as saying: “Political uncertainty, inflation, and an ever-increasing desire to own non-government controlled assets will propel Bitcoin to new all-time highs.”
See related article: Bitcoin legal tender status meets stop sign in Malaysia
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