In late December of 2022, the price of bitcoin is expected to reach the predicted value of USD 34,814. The Bitcoin Price Prediction for December 2022 is based on our data crunching algorithm and indicators that show that in just a few years, we’ll be moving towards an era where even more people will be using bitcoin as a means for traveling and making online transactions.
Bitcoin is a virtual cryptocurrency that allows consumers a way to make transactions and purchases without having to go through a centralized banking system.
To buy bitcoins, you will have to purchase them from other people who are already holding the cryptocurrency. Once you have acquired some of the cryptocurrency, you can use one of the many exchanges to trade your bitcoins for USD. Keep in mind that as bitcoin values fluctuate, so does the exchange rate with fiat currency. In essence, this means that users who want to get richer off of their bitcoin investments need to constantly monitor the market for changes in prices.
There are currently two major exchanges where you can buy bitcoins; Bitfinex and Coinbase. Each takes different routes when purchasing coins. If you decide to purchase through Coinbase, make sure to pay attention to the fees that apply. In general, bitcoin fees follow a certain pattern, meaning that if you purchase a group of 10 bitcoins from Coinbase with a fee of $8, your total cost would be $80. This means that as the price of bitcoin increases, so do the costs to send funds through an exchange and into the bitcoin holding account.
Bitcoin is the most widely used and one of the top trending cryptocurrencies in the market. The system allows users to send payments or money through blockchain technology. A single bitcoin can be divided into smaller units of 0.00000001 BTC called a satoshi. The price of a single Bitcoin has fluctuated wildly in its short lifespan from just $0.39 (one USD) in 2011 to over $2,700 today.
Predictions are nothing new, and neither is the cryptocurrency market. Some people may be surprised by the fact that a lot of analysts predict that the Bitcoin price will be touching $250,000 by 2022. Several experts are also predicting that cryptocurrency will constitute 10% of the global money supply in 2025. These predictions look bullish at first glance but there is a catch to it all. There were two earlier predictions made about Bitcoin by John McAfee and Winklevoss twins regarding its price which were both inaccurate.
John McAfee is an American entrepreneur and founder of an antivirus software company McAfee is the founder of Jagex games company in 2005 and predicted that Bitcoin will hit $1 million by the year 2020. This was absurd as the price was just $0.03 back then. The Winklevoss twins are also not new to this game when they predicted that Bitcoin will touch $11,000 each in 2017 and 2020 respectively.
So, staying bullish in December 2022 is the Ethereum price prediction. We will see a shift from Bitcoin to Ethereum as soon as more people start to adopt it as their preferred crypto-currency. This may not take place till somewhere around December 2017 but once it goes mainstream, and people start to realize the benefits of using Ethereum, the demand should increase and thus drive up the price. $34,814 is just a projection based on the fact that ether currency will continue to rise in popularity in years to come.
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