Bitcoin Price Predictions: BTC adoption continues across the globe, but most notably in Australia, where 61% of crypto investors hold Satoshi Nakamoto’s coin.
Given the exponential growth in the adoption of blockchain technology, a panel of experts expects the price of Bitcoin (BTC) to reach $79,000 by 2025.
Rome wasn’t built in a day. It took millions of bricks, decades of labor and hundreds of architects and masons to build the emblematic capital of our transalpine neighbour.
Now you are probably wondering why we tell you about Rome in a crypto-related article. You are reading this article because you are interested in the world of cryptocurrencies. We took the example of Rome to explain to you that the mass adoption of crypto will not happen overnight.
The good news is that despite the current bear market, the rate of crypto adoption continues to rise. What exactly does this mean? This means that crypto is here to stay.
Analytics platform Finder recently conducted a survey of internet users from 26 countries to measure the growth of crypto adoption.
Unsurprisingly, India tops the list with an adoption rate of 28%. It is followed by Nigeria which has an adoption rate of 26%. Australia ranked 5th, with a rate of 20%, just after Vietnam (23%) and Hong Kong (21%).
Is Australia really ready to become a bitcoin country? Explanations.
Focus on the crypto market in Australia
Entities or individuals who buy or sell Bitcoin have seen it all: from storm to fair weather. However, they have always trusted countries using crypto as a store of value. Currently, everything suggests that Australia is a pioneer in this area.
According to a report published last month by Finder, Australia tops the list of 26 countries surveyed for crypto adoption. Bitcoin (BTC) is Australia’s favorite crypto, followed by Ethereum (ETH) and Dogecoin (DOGE).
According to the report, 61% of Australian crypto investors own Bitcoin, while the global proportion of crypto investors holding the asset is no more than 36%. Consequently, Australians are by far the biggest followers of Satoshi Nakamoto’s cryptocurrency.
Ghana came second with a 58% share, followed by Nigeria with 48%. At the other end is Mexico, where 22% of crypto investors say they own Bitcoin.
Crypto Adoption: Demographics
Of those surveyed in Australia, 60% are men, while 40% are women. As you will have understood, the gap between men and women is still present.
“On average 36% [des investisseurs crypto] are women, while 64% are men. Norway has the largest gap, with 75% of Norwegian crypto investors being male. Vietnam tops the list in terms of parity [54 % d’hommes contre 46 % de femmes]”.
Bitcoin (BTC) Short and Long Term Price Predictions
Enough talk, let’s get down to business. Finder’s report also gives short-term and long-term predictions for BTC.
55 industry experts (fintech/crypto) were surveyed about Bitcoin’s price performance over the next decade. Here are their predictions:
“Our panel estimates that the price of Bitcoin (BTC) will reach $21,344 by the end of 2022 and $79,193 by 2025.”
Even better, the price of Bitcoin could reach $270,722 in 2030, according to the chart below.
Until a few months ago, even the most pessimistic analysts did not expect the price of Bitcoin to close the year at $21,000. However, given the current crisis in the crypto market, we can only hope that next year will be kinder to BTC.
Keep in mind, however, that the Bitcoin price could drop to another low before this bear market ends. This was rightly pointed out by the authors of the report. Indeed, the expert panel expects a peak price of $24,013 before the end of 2022, but it does not rule out the possibility of a drop to $15,283 by December.
Undoubtedly, the crypto asset market crash has drastically clouded the predictions of Finder panelists.
EXMO CEO Serhii Zhdanov said:
“Nothing has really changed for Bitcoin. This is a global capital market crisis. Bitcoin is affected in the short term but it will eventually recover; many other financial assets will not make it”.
Is Bitcoin still seen as a store of value?
Absolutely ! 77% of panelists believe Bitcoin is still a store of value, while 19% believe the opposite. The remaining 4% do not really manage to decide on the question.
Additionally, 46% of experts advise buying Bitcoin and 44% of them are HODLers. In contrast, 10% of panelists recommend selling the asset.
“The main reason why our panelists think it’s time to buy Bitcoin is that the current price drop is due to macroeconomic factors, rather than a fundamental change in the crypto.”
That said, Bitcoin is still under increased scrutiny both inside and outside the crypto market. Especially in Australia, especially due to regulatory uncertainty and the country’s relatively high inflation rates.
In a statement on behalf of the Australian Government, Prime Minister Anthony Albanese said: “As things stand, the crypto industry is largely unregulated, and we need to make efforts to find the right balance. so that we can adopt new and innovative technologies.”
Given the interest of Australians in crypto, the government is taking a serious approach to adopting clear and transparent regulations. But so far, the legal vagueness persists.
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