All eyes are on the autumn outlook of Bitcoin.
Traditionally, Bitcoin shows poor price value in September. For the last five years, the digital currency has recorded a price drop of more than 8% this month on average.
Experts reassure that there is nothing to be worried about. In due course, it will reach $100,000. They are more than sure that Bitcoin will go beyond this mark.
Although markets have tendency to change quickly, Bitcoin investors think that the digital currency will surpass $100,000 in the next five years.
German Deutsche Bank conducted and published a report that supports this.
However, Bitcoin recorded a price drop below $20,000 this week. Gerome Powell, the Chair of the Federal Reserve of the United States, pointed out in his speech that the US central bank will try to fight fiercely against the inflation.
The inflation in the US has sky-rocketed and it is reaching the levels of the 1970s.
Investors are still wary of the volatility on the crypto market, because of the global events. But, they can be relieved with the fact that the Bitcoin has shown signs of stability recently.
Still, its value is more than doubled as it a was few years ago.
Despite the fact that it is hard to predict the price of the Bitcoin, some experts can offer their outlook for the upcoming fall. By the end of 2022, a group of experts believe that the price can hit $25,000. Analysts of Deutsche Bank have even more promising outlook for Bitcoin. They expect it to reach $28,000.
Nevertheless, the crisis in the world economy, the sky-high inflation and the increased interest rates will put these predictions to the test.
Another event will determine the price of the popular digital currency.
On 6 September, Ethereum will get an enhanced network. If this merge goes well, Ethereum can pass the price of $2,000 by the end of the year.
