The price of bitcoin expected in 2022

Bitcoin’s price has soared above $55,000 in the last week due to a positive change in crypto-related news and a major purchasing spree. Our Bitcoin price projection is already within striking distance, thanks to the recent rise.

The №1 cryptocurrency increased by more than 34% in just one week, from September 29 to October 6.

It’s the highest Bitcoin has gotten since mid-May, though it’s still a long way off from the all-time high of just under $65,000. Since then, the price has remained stable at about $54,000.

The strong rebound halted a September slide that had brought Bitcoin to the $41,000-$42,000 price level.

It also caught many short sellers off guard. Short positions totaling more than $200 million were liquidated.

To be honest, almost no one predicted this rally.

Multiple minor triggers pushed the price above $50,000 over several days. Then, in a matter of minutes, one or more whales — wealthy crypto investors — placed buy orders totaling $1.6 billion. The price of Bitcoin instantly increased by 4.5 percent, to $2,400 per coin.

However, that was only the rally’s climax. Let’s take a look at all of the factors that contributed to the bullish momentum prior to the arrival of the whales…