Recent high volatility in bitcoin suggests traders and speculators will see money to be made in guessing the cryptocurrency's swings correctly. Read on to get my forecast of what bitcoinprice is likely to do in 2022.
. While ambitious targets of $50k, $60k and even $70k could look reasonable on long term technical charts, reaching those levels and being able to hold onto a position for a meaningful amount of time is not easy to undertake for any trader.While some try to fundamentally explain the recent bearishwhich has developed in BTC/USD, technical traders might suggest that the cryptocurrency is simply doing what it has always done – provide volatility as a speculative asset.
So, while euphoria grew in BTC/USD in early November 2021, we subsequently saw bearishness in Bitcoin even while a wave of new financial products was being offered to global investors It is quite possible that BTC/USD could again test the $35k if $40k breaks down soon. High volatility causes lightning quick changes of value in Bitcoin. While many traders may not believe BTC/USD could return to values seen in late June 2021, it should not be considered impossible, this is a speculative asset.
We have not seen the last of volatility in BTC/USD and in the coming months it is guaranteed to deliver more.
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