Bitcoin price prediction July 2022: What can you expect from BTC next time?

by James · July 11, 2022

The Bitcoin (BTC) price has once again fallen below the $ 20,000 level. At the time of writing, the number one cryptocurrency traded at around $ 19,990, down 2.41% in the last 24 hours. BTC has struggled to take off despite rising above $ 22,000 a few days back.

The BTC trading charts indicate that the top cryptocurrency may fall further if the selling pressure continues.

“Bitcoin fell by more than 7% over the last couple of days to fall below the $ 20,000 level after not staying above $ 22,000. BTC market sentiment also weakened as fears crept in with the price drop,” said analysts at WazirX Trade Desk in a note.

“On the daily time frame, the BTC chart crosses within the declining channel pattern. The daily RSI is approaching the oversold zone, and we can expect investors to return to this level. Failure to maintain momentum above the $ 22K level may lead to “BTC is falling further. Immediate support for Bitcoin is expected to reach $ 17,700,” they added.

The US CPI inflation figures for June 2022, which are expected to be announced tomorrow, may also have a significant impact on the crypto markets, especially the Bitcoin price.

“The US CPI data on July 13 will be the next trendsetter for the crypto market,” said Shivam Thakral, CEO of the BuyUcoin crypto platform.

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Edul Patel, co-founder and CEO of the crypto-investment platform Mudrex, said: “After following the recent run of $ 22,000, Bitcoin falls back to the $ 19,000 level on Monday. If the price falls below the current level, we can see BTC fall to USD 18,000 as bearish sentiment continues in the market.

BTC could end 2022 over $ 25,000

Meanwhile, a survey of 53 fintech specialists by Finder has predicted that BTC could end the year at $ 25,473 before falling to as low as $ 13,676. Most of the experts surveyed said that the market for virtual digital assets was officially in the “crypto winter”.

However, the same experts said that Bitcoin could be worth $ 106,757 by 2025 and $ 314,314 by 2030.

Experts say that several major crypto projects may fail over the next few months. And the crypto winter may last until 2023 or even beyond.

(Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Consult your financial advisor before making an investment decision)