Bitcoin cryptocurrency is predicted to grow to $ 626,000

According to the Bitcoin Rainbow price chart, which is used to determine the possible dynamics of bitcoin’s value, the flagship cryptocurrency has a chance to rise to $ 626,383 in 2 years.

According to analysts, the Bitcoin Rainbow indicators show that the current crypto winter has already reached the bottom, so investors can expect further growth in the value of leading digital assets. The chart also shows that by the end of 2022, the price is expected to be above the all-time high, which was $ 67,599 in 2021 — BTC is projected to trade for $ 86,151.

At the time of writing, the value of bitcoin is $ 19,407, which is several percent higher than over the past 7 days. However, many cryptocurrency analysts believe that BTC is at risk of falling to new market lows. Thus, Nicholas Marten is convinced that the price of bitcoin will continue to fall if the US Federal Reserve does not stop raising the prime lending rate. According to Marten, the US regulator will maintain the rate hike vector until it reaches its inflation control goals.