Analysts Make Very Alarming Predictions about Bitcoin Hitting $14,000 in BTC

While the end of the year 2020 and the first half of 2021 were remarkable, the period after that for Bitcoin (BTC) is filled with worries. Bitcoin hasn’t proven to be very promising and much lucrative for the investment community in the year 2022.

Due to its constant bearish performance, it has become the center of attention for analysts as well. They are paying a very close look at the largest cryptocurrency by valuation. They want to know what the future of Bitcoin is going to be if the current keeps going.

Cycle Bottom for Bitcoin

The analysts are suggesting that at present, Bitcoin is going through the “cycle bottom” phase. The cycle suggests that if the trend keeps going, then a huge dip can be witnessed in Bitcoin’s trading price.

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If you’re thinking that a further 10% or 20% dip will be recorded for Bitcoin in the year 2022, then you are underestimating the cycle. The analysts suggest that the trend has the tendency to slash the trading price of Bitcoin in half.

The analysts have made strong predictions claiming that its price may dip by 50% compared to its current trading price.

An Authentic Source Makes the Predictions

Even many authentic and reliable sources seem to be making the same prediction surrounding Bitcoin. Venturefounder, one of the highly recognized, followed, and dedicated contributors of analytics at CryptoQuant has also supported the trend.

As per Venturefounder, the running year will be full of surprises for the entire Bitcoin community. In the running year, Bitcoin is expected to experience a great pull. Its price may end up getting capitulated, and predictions have been made for the year 2022.

Venturefounder made his predictions about Bitcoin’s price on June 1, 2022.

Historical Patterns Suggest 2022 will be Bearish

When making predictions and setting up the forecast, the analysts have also taken the halving cycles of Bitcoin into consideration. Looking at the halving cycles, the investors have been able to predict that the current year for Bitcoin will be bearish.

The analysts have reported that Bitcoin is currently going through the same phase it did back in 2018. In the year 2018, Bitcoin had also experienced its all-time high, before its price landed at the bottom.

Even now, Bitcoin is displaying a similar trend. It suggests that the trading price of Bitcoin may continue dropping. At one point, the trading price of Bitcoin may move between the ranges of $14,000 to $21,000.

The analysts suggest that the capitulation will be witnessed in the next six months. However, its price may surge up to $40,000.

At the time of writing, Bitcoin’s trading price is worth $31,322.31 and it has experienced a 1.36% dip in the past 24-hours. The trend confirms that the price of Bitcoin may not experience a stronger rally in the year 2022.

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