Bitcoin 2022 Price Projection: Bullish Bias Returns Amid Poor US Inflation Numbers

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


In an unexpected turn of events for Bitcoin (BTC) and the broader crypto market, bullish sentiment has returned, helping the market stall the previous bearish cycle.

The benchmark cryptocurrency recorded its most extended bearish movement since 2018 in the opening week of January, as many analysts warned that a massive sell-off could ensue once the cryptocurrency breaks beneath the critical $40,000 psychological base.

At press time, Bitcoin trades at $43,800, after peaking at $44,300 late yesterday. According to CoinMarketCap statistics, BTC traded up by 1.3% over the past 24 hours and 2.19% in the last seven days.

Notably, the benchmark cryptocurrency increased in value following a grim inflation report from the world’s largest economy, after economic data showed that the US inflation rate for December came in at 7%, this highest inflation figure in four decades. Even though economists predicted this outcome a long time ago, the crypto market and other financial markets reacted violently to it.

Analysts explained that the depreciating value of the US dollar is one of the primary reasons why investors flooded BTC, which is often described as “digital gold” because of its limited quantity and inflationary hedge property.

However, investors have been advised to exercise caution in their flow into the crypto market as the Federal Reserve is expected to increase its interest rate peg at least three times in 2022 as a means to battle rising prices.

Annual Forecast for Bitcoin (2022)

Since it peaked at the $69,000 all-time high on November 10, 2021, BTC has maintained a steady downward trajectory that bottomed out, for now, on January 10. That said, the benchmark cryptocurrency is currently on a rebound from the crash, as it received support from a combination of technical points coalescing around $40,000.

BTCUSD – Weekly Chart on Gemini. Source: TradingView

Notably, the flagship cryptocurrency now coasts around the critical trendline that has guided the bearish spiral since early November. That said, a sustained control above this line in the coming days and weeks should help BTC quell the bearish pressure and reposition to tap into the previous bullish cycle. This bullish projection receives support from the fourteen-month-long ascending trendline, the July pivot area, and the $40,000 support line.

It would be interesting to see how the price action of BTC plays out over the coming days and weeks as bullish sentiment returns. Personally, I expect to see BTC hit the popular $100,000 price tag in 2022.

Meanwhile, my resistance levels are at $45,000, $46,000, and $46,300, and my key support levels are at $43,000, $42,000, and $41,000.

Total Market Capitalization: $2.10 trillion

Bitcoin Market Capitalization: $837.8 billion

Bitcoin Dominance: 39.8%

Market Rank: #1

 

You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *