BITI - Bitcoin Price Predictions: What's Next for BTC as the BITI ETF Takes Off?
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Bitcoin (BTC-USD) is always among the most-watched cryptos in the market. It’s the oldest and largest token, after all. Accordingly, Bitcoin price predictions are always intriguing to look at, in any market.
However, given the incredibly bearish market sentiment in the crypto world of late, these price predictions have come down. Way down. And while many experts are still calling for six-figure Bitcoin (we’ll get to the predictions in a minute), there are many investors out there who reasonably don’t see a significant rally any time soon.
The Federal Reserve appears intent on continuing to hike rates aggressively. This new macro environment means less easy liquidity flooding the system. It’s easy to see how easy-money policies could have led to rapidly rising asset prices in recent years.
That being said, there’s another bearish factor that’s playing into many investors’ short term price targets for Bitcoin. A recently-announced exchange-traded fund (ETF) which tracks the inverse price of Bitcoin launched yesterday. Today, the ProShares Short Bitcoin Strategy ETF (NYSEARCA:BITI) has surged higher, as Bitcoin has struggled. Many believe that more investor options to take advantage of downturns in cryptocurrencies like Bitcoin could accelerate such drops.
Time will tell how this all plays out. But for now, let’s look at where the experts see this token headed from here.
Bitcoin Price Predictions
For context, BTC-USD currently trades at $$20,047 per token, at the time of writing.
- Walletinvestor provides a 1-year and 5-year price target of $37,331 and $105,057, respectively, for Bitcoin.
- Similarly, Gov.capital projects BTC could be worth $49,910 in one year and $234,245 in five years.
- Finally, Crytponewz suggests Bitcoin could be worth around $25,000 this year and between $42,000 and $55,000 in 2026.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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