Bitcoin (BTC) Price Predictions in May 2022. What to Expect

But where is the Bitcoin (BTC) price heading? On Saturday, April 30, BTC reached a low of $37,650, and as we write it, it returned to over $39,000, registering +2.69%.

Predicting Bitcoin (BTC) price direction has become a tricky puzzle. Statistically speaking, April is a good month for cryptocurrency, but this time it was not at all.

Which Bitcoin (BTC) Price Predictions for May 2022? Should we expect a rebound, more crashes, or continued volatility in this price range in which the cryptocurrency has found itself since the beginning of the year?

Let’s try to understand something more by continuing to read.

Bitcoin (BTC) Price Predictions for May 2022

After an decidedly bearish weekend that greeted April and welcomed May, the number one cryptocurrency by market capitalization has largely recovered what it lost, returning to prices on Friday, April 29th.

According to analysts contacted by Coindesk, Bitcoin Remains Free of Strong Upside Pressure In sight.

momentum, in general in the financial markets, it is weak. Investors are reluctant to take real risks.

To balance the macroeconomic conditions with the US dollar index continuing to rise against other currencies, indicating strong strength, stocks remain in negative territory.

Moreover, the meeting of the Federal Reserve Board, the central bank of the United States, is scheduled for the first week of May. Interest rates are expected to rise 50 basis points more, compared to the 25 basis points they increased at the previous meeting.

Moreover, the FOMC, at its next meeting, will have to give indications about limiting its exposure to Treasuries and mortgage securities in its portfolio.

Worst Bitcoin in April

Bitcoin could have sparkled in April, but it will be another April. Instead, the statistics for April 2022 will be remembered as one of the worst when compared to other asset classes.

Bitcon lost -17.29% in April, while the S&P 500 lost only -8.8% and Bonds, which lost -9.56%, also fared better. Gold shines, but not by much, losing -2.68% in April.

Blockchain stocks are no better

in April Nasdaq 100 It lost -13%, and as we know this index includes stocks from the technology sector, including fintech and blockchain companies.

Let’s take a name above it all, Coinbase (COIN), which was corrected last Friday with a drop of -8.14%. The coin is valued at $112.70 today, while it was at $343 high in November 2021. Our personal advice, it is not yet time to buy it at a discount, let’s first see the 2022 aggregate annual results which will be published in 2023.

Macroeconomic factors to consider

The war in Ukraine, accelerated inflation, and growth in the first quarter of the year stuck in many countries among the first in world production (Italy -0.2% of GDP, Europe +0.2%), macroeconomic factors must be taken into account.

As long as China continues to lock tens of millions of citizens in their homes once 10 cases are discovered in a mega-city, as long as Vladimir Putin continues to hold the global economy hostage to his war, it will be difficult to review. The unchanging calm in the financial markets.

This article was originally published on FX Empire

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