The year 2022 started on the back foot as Bitcoin plummeted to $38,000 and dragged the entire cryptocurrency market along. The crash wiped away the majority of the profits made last year as several coins traded -50% from their all-time highs. With uncertainty already looming the Russia-Ukraine war caused another crash last month making BTC drop to $38,000 again.
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The market is sending mixed reactions today as Bitcoin is trying to climb above the $39,000 mark. However, BTC is getting rejected at $39K making it slip to $38K during today’s trade. The see-sawing price is affecting the entire market with glimpses of both red and green in today’s indices.
The Russia-Ukraine war is adding to the burden of the financial crisis for both the stock and the crypto market. A bull run is nowhere on the horizon and experts predict being an investor will be hard in 2022. The market has been a mixed bag of emotions this year and is testing the patience of day traders and long-term holders.
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Bitcoin Prediction During the Russia-Ukraine Conflict Period
Financial expert John Squire, the partner at Ojamu, an AI & Blockchain-powered platform, spoke exclusively to Watcher Guru and predicted that Bitcoin could slip to $32,000 during the Russia-Ukraine conflict.
“Bitcoin will drop to $32,000 and then rise to $40,000 and hold steady at $44,000 for the duration of the Russia-Ukraine conflict,” said Squire exclusive to Watcher Guru. He continued, “We will see another big correction (during the conflict period) that could make BTC to plunge to $32,000.”
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Squire predicted that the last quarter of 2022 could be profitable and most of the cryptos might skyrocket. He continued, “It is foreseeable that Bitcoin and the rest of the cryptos will skyrocket at the end of the year.”
At press time, Bitcoin was trading at $38,095 and is up -0.6% in the 24-hours day trade. BTC is down -8.6% since the last 30-trading days and is also down -22.3% since the last year. It reached an all time high of $69,044 in November last year and is down -44.7% from its ATH today.