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Outlook for the end of 2022, 2025 and 2030

Bitcoin Price Prediction: BTC adoption is still a dominant trend in Australia, where 61% of crypto owners hold BTC. This represents the largest share of global bitcoin ownership. The exponential adoption rate of blockchain technology has led a panel of experts to believe that the price of BTC could reach $79,000 by 2025.

Rome wasn’t built in a day. Instead, workers laid bricks by the hour multiplied by years, even decades, of sweat and blood.

Now that I have your attention, let’s explore the crypto angle. You are reading this because of your enthusiasm for crypto (punches in the air). But to use the Rome analogy here – global cryptocurrency adoption will take a while.

Despite significant setbacks recently, the crypto adoption rate scenario might surprise you. So, here’s to keeping the ‘Crypto’ Christmas cheer alive.

Source: Finder

A comparison web portal, Finder’s Cryptocurrency Index, has measured the growth of cryptos worldwide based on a survey of netizens in 26 countries.

India led the way with 28% ownership, followed by Nigeria with a global adoption rate of 26%. Australia ranked 5th with a 20% share after Vietnam (23%) and Hong Kong (21%) respectively.

But is Australia on track to become a bitcoin country? Here’s the what, why and how…

Down Under in Aussieland

Businesses or individuals who buy or sell Bitcoin have weathered it all: rain or shine. But have put their trust in countries using cryptos as a store of value. In this case it seems to be Australia.

An October 2022 report by Finder puts Australia in the spotlight among 26 nations surveyed on crypto adoption. In terms of cryptos, Bitcoin (BTC) is the most preferred crypto, followed by Ethereum (ETH) and Dogecoin (DOGE).

Bitcoin AdoptionSource: Finder

According to the report, 61% of Australian crypto owners own Bitcoin. While the global average of BTC holders was 36%. Ergo, Australia is way up there, likely supporting the narrative of being called a bitcoin country.

After Australia, Ghana came second with a share of 58%, followed by Nigeria with 48%. On the other extreme is Mexico, where 22% of crypto owners say they own bitcoin.

Demographics and Crypto Age Trends

Among respondents in Australia, 60% were men while 40% were women. There is a huge gap in crypto adoption between men and women. On average of crypto owners, the report added:

“(…) on average 36% are women compared to 64% men. Norway has the biggest gap as 75% of people who own crypto are men. Vietnam ranks closest between genders (crypto ownership is 54% males compared to 46% females).”

Here is the table showing the age trends:

Bitcoin demographicsSource: Finder

Bitcoin Price Prediction: Short term and long term route

Now comes the fun part for crypto enthusiasts out there. Finder’s October survey also shows BTC price predictions for the short- and long-term future.

Here, 55 industry specialists (fintech/crypto) were asked how the Bitcoin price would develop over the next ten years. Here are some exciting results measured against an average rate:

“Our panel expects Bitcoin (BTC) to be worth $21,344 by the end of 2022 before rising to $79,193 by 2025.”

Meanwhile, Bitcoin price could reach $270,722 in 2030 as shown in the chart below.

Bitcoin Price PredictionSource: Finder

A bitcoin price prediction around $21,000 – certainly not the stuff of dreams, but given the intense bearish obstacles, it could easily be taken.

But keep in mind that Bitcoin price could find another bottom in this bear market. Something that was wisely picked up in this poll. That said, at its peak, the panel sees “BTC reaching $24,013 in 2022, but it also forecasts a bottom to just $15,283 sometime this year.”

The crypto crash played a significant role in the speculative scenario(s).

One of the panelists and EXMO CEO Serhii Zhdanov stated:

“Nothing fundamental has changed for bitcoin, it is a global capital crisis and bitcoin is affected in the short term but will recover; many other financial assets will not.”

Is BTC Still Considered a Store of Value?

Absolutely yes! A majority believe in the ability of BTC. 77% of the panelists voted for BTC, while 19% said otherwise. The remaining 4% were not sure.

Additionally, 46% of experts said yes to buying Bitcoin, while 44% are HODLers. 10% are now sellers.

“The most common reason our panelists believe it’s time to buy BTC is that the current price weakness is due to the macroeconomic factors weighing on it, rather than a fundamental shift in the cryptocurrency.”

However, Bitcoin remains a subject of scrutiny both inside and outside the crypto world. Especially in Australia given the region’s regulatory uncertainty and high inflation rates.

In a statement from the government led by Prime Minister Anthony Albanese, he added: “The crypto sector is largely unregulated at this time and we need to do something to find the right balance so that we can embrace new and innovative technologies.”

Given the crypto traction in Australia, the government took a serious approach to enacting clear and transparent regulation. Until then, crypto regulation and how crypto is handled will remain a gray area.

Indeed, this could be seen through a recent interaction from crypto providers here. As reported by BeinCrypto, three crypto exchange-traded funds (ETFs) launched in Australia earlier this year have been delisted.

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