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Bitcoin Price to Hit $120,000 in Next Bull Cycle in 2022, Crypto Trader Claims

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  • Yuri Molchan
    📰 News

    Another long-term bullish prediction appears on Crypto Twitter, this time it comes not from a crypto billionaire and investor, such as Tim Draper, but a crypto analyst

Bitcoin Price to Hit $120,000 in Next Bull Cycle in 2022, Crypto Trader Claims
Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The highest bullish Bitcoin price predictions have come from such persons as John McAfee ($1 mln), and Tim Draper ($250,000 minimum). Both have stood by their predictions for a few years already.

In the recent interview to U.Today, the former antivirus mogul McAfee confirmed his more than optimistic forecast, saying that Bitcoin is the first deflationary coin and that he is surprised that nobody has noticed it yet.

Another large bullish prediction on the Bitcoin price has come from a trader and analyst on Crypto Twitter.

‘Bitcoin price may hit $120,000 in 2022’

The analyst ‘CryptoWolf’ (@IamCryptoWolf) believes that Bitcoin is about to enter a new bull cycle. It may lead the BTC price to surge by 2022 and hit an astronomic level of $120,000.

Bull cycles for Bitcoin are getting longer, the analyst writes, predicting the ‘estimated time of arrival’ to be 2022.

Upbit hack pushes the BTC price up

On Wednesday, the most hyped event was the hack of the Upbit crypto exchange in South Korea. Some experts believe that it was an inside job than an outside hack. Since the hack briefly coincided with Bitcoin sliding down to the $6,700 area, some started blaming that on the loss of $50 mln in Ether by Upbit.

However, later on, Bitcoin made a U-turn and surged to $7,200, adding $500 to its price. A crypto expert and blockchain writer Joseph Young wrote on his Twitter page that the hack was unlikely to push the BTC price down, since the management team promised to compensate the losses.

Still, many on Twitter responded to the event with criticism, saying a popular phrase regarding centralized crypto exchanges – ‘Not your keys, not your Bitcoin’.

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Bitcoin Price May Surge to $9,400: Crypto Traders

Bitcoin Price May Surge to $9,400: Crypto Traders

eToro’s expert’s take

In a daily newsletter sent out by eToro, their analyst Adam Vettese states that perhaps the recent successful BTC futures trading on Bakkt and the interest of institutional investors that grows towards this platform gradually, will be able to give Bitcoin enough momentum in the future.

“Bitcoin futures exchange, Bakkt, reached a record number of contracts traded yesterday - 4,443 contracts, approximately $33 million at current Bitcoin prices. With institutional interest in Bakkt increasing month on month, bucking the overall market sentiment in Bitcoin, could this spark a resurgence in crypto spot markets?”

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

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  • Alex Dovbnya
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    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

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Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Tim Draper Says His $250,000 Bitcoin Price Prediction Is Not Based on Halvening

Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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