Bitcoin Price Predictions For February 2022

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Last Updated on 30 January 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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It’s the last Sunday of January and although the MSM spoke of a crypto crash, the world’s biggest coin has exchanged hands for about $37k for a week now. This morning it even trades at $38k. Some analysts believe a bottom has already been set. February is upon us and we are looking forward.

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Tesla, China and Wall Street

About a year ago, in the month of February 2021, the whole world started to notice Bitcoin as it broke through the $50k barrier for the very first time. Excited by the news in January of that year that Tesla would soon accept Bitcoin as a means of payment and seeing Wall Street investors line up to purchase this shiny and new digital coin which all of a sudden was getting global acceptance, FOMO drove it all the way up to $65,000 by April.

May saw some heavy selling because of a Tesla reversal on its promise, the Chinese government banning Bitcoin mining and other factors. By November though, it went even higher, touching an all time high of $69,000.

As stock markets entered correction territory in December and January, Bitcoin followed the Nasdaq’s path and is currently trading around $37,000, well of it’s high, but still a sizeable profit for anyone who invested early on.

Media expectation February 2022

So what will February bring? Let’s look at what the media expects.

First of all it remains to be seen whether Kazakhstan will turn the Bitcoin miners power back on, which would have serious effects on the hashrate. That alone could provide a boost to the Bitcoin price.

Analyst Scott Melker, who tweets under the moniker Wolf of All Streets, is a known fan of candlesticks trading. Looking a the last week’s daily closes, he seems convinced the current bottom is in for Bitcoin and we’ll go back up in February. Then again, there are many macro-economic factors that could influence this: the Federal Reserve, a possible Joe Biden crypto regulation bill and even a war between Russia and Ukraine would all influence crypto markets.

Lastly, we look at a highly bullish prediction made by a rotating panel of 33 crypto experts. 50% of these experts don’t think that Bitcoin will go down when the interest rates of the central banks go up. 31% is unsure and 19% thinks that Bitcoin will go down.

The Bitcoin price prediction of these experts is a peak above $90,000 within the next months and a dip to $76,000 at the and of this year.

We can only wait to see if this comes true.

SergeyNivens / Depositphotos.com