- Bullish WBTC price prediction ranges from $20962 to $36022.
- WBTC price might also reach $37000 this 2022.
- WBTC’s bearish market price prediction for 2022 is $17147.
Wrapped Bitcoin (WBTC) is an Ethereum-based Bitcoin launched on the Ethereum blockchain. It is pegged in the ratio of 1:1 to Bitcoin. Wrapped Bitcoin (WBTC) enabled it to be integrated into Ethereum wallets, decentralized applications (DApps), and smart contracts.
Wrapped Bitcoin (WBTC) investors are bullish on the token since it has a return on investment (ROI) of over 5.06 times in the past four years. The crypto bubble of 2022 led to the surge in the price of WBTC to its present all-time high (ATH) of $162,188.26, which was attained in November 2021. Irrespective of the recent crypto winter, WBTC investors are confident that the future of WBTC is bullish.
If you are interested in the future of Wrapped Bitcoin (WBTC) and want to know the price analysis and price prediction of WBTC for 2022, 2023, 2024, 2025, 2026, up to 2030, keep reading this CoinEdition article.
What is Wrapped Bitcoin (WBTC)?
Wrapped Bitcoin (WBTC) was officially launched in January 2019. Merchants and custodians back WBTC. Thirty members control WBTC DAO. The three organizations that partnered to create WBTC are BitGo, Kyber Network, and Ren.
Wrapped Bitcoin custodians help in the burning of WBTC to ensure that its circulating supply is maintained. The merchants serve as administrators who mint WBTC. Since WBTC is an ERC-20 token, it could be used for crypto lending, decentralized finance projects, and traded in decentralized exchanges.
On-chain proof of reserve is used to verify all wrapped Bitcoin (WBTC) issued. The custodians also help to ensure that the WBTC is secured. Due to the scalability challenges of the Bitcoin blockchain, investors can quickly transfer Bitcoin to centralized exchanges through the Ethereum blockchain.
Wrapped Bitcoin (WBTC) Current Market Status
The maximum supply of Wrapped Bitcoin (WBTC) is unknown, while its circulating supply is 244707, according to CoinMarketCap. When writing, WBTC is trading for $20189.61, representing 24 hours increase of 7.62%. The trading volume of Wrapped Bitcoin in the past 24 hours is $169.89 million, representing an 84% increase.
Some top cryptocurrency exchanges for trading Wrapped Bitcoin (WBTC) are Binance, Kucoin, FTX, and Gate.io.
Now that you know what WBTC is and its current market status, we shall discuss the price analysis of Wrapped Bitcoin (WBTC) for 2022.
Wrapped Bitcoin (WBTC) Price Analysis 2022
Currently, WBTC is ranked in the 18th position on CoinMarketCap. Will developments and upgrades within the Ethereum community lead to a rise in the price of Wrapped Bitcoin (WBTC)? We shall see in this Coin Edition price analysis 2022 article.
Wrapped Bitcoin (WBTC) Price Analysis – Keltner Channel
Keltner Channel is a technical analysis indicator used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for Wrapped Bitcoin (WBTC), it could be seen that the present bullish run could continue since the recent candlesticks are within the first half of the chart from the bottom. Also, since the last candlestick is bullish, the present increase in the price of WBTC might be sustained before any reversal would be expected.
Wrapped Bitcoin (WBTC) Price Analysis – Relative Strength Index
The Relative Strength Index (RSI) is a technical analysis indicator that measures the relative momentum in the magnitude and speed of recent price changes of an asset to deduce if it is an oversold or overbought asset. The RSI value of Wrapped Bitcoin (WBTC) 1day chart of WBTC/USDT is at 41.89. This shows that WBTC is showing a strong trend between 30 and 50. This value could trigger a further bullish run if more buyers could be attracted to gain from the expected price increase to the 50 RSI value, which is the strong trend region, before any price correction soon.
Wrapped Bitcoin (WBTC) Price Analysis – Moving Averages
The chart above shows the 1Day chart of WBTC 200-day and 100-day Moving Average (MA). WBTC is on a bullish trend, as indicated in the recent uptrend. Since the 200-MA is above the 100-MA, we can deduce that the price is bullish for long-term hodlers.
Also, since the gap between the moving averages is wide and above the recently formed candlesticks, the price of Wrapped Bitcoin (WBTC) might experience a significant rise or fall in the future.
Wrapped Bitcoin (WBTC) Price Prediction 2022
Looking at the daily chart of WBTC/USDT, the WBTC price was swinging from $23773 resistance2 to $20962 resistance1 after touching the support level at $18450. It reversed from the support level of $18450 and now going sideways in the market and is expected to be bullish in the coming weeks.
Meanwhile, our long-term WBTC price prediction for 2022 is bullish since it cannot break the present support level soon. We can expect WBTC to reach $37000 in 2022.
Wrapped Bitcoin (WBTC) Price Prediction-Resistance and Support Levels
This bullish chart shows that the price of WBTC has increased by 0.7% in the past 14 days. If this price increase continues, WBTC could break the $20962 resistance1 level and move higher to $36022 at the resistance6 level, and even higher, the bullish signal for 2022.
However, if sellers have their way, the price of WBTC might be dethroned from its present uptrend position. In simpler terms, WBTC might trend below the $17147 support2 level and even lower in 2022, a bearish signal2
Wrapped Bitcoin (WBTC) Price Prediction 2023
If the value of the relative strength index (RSI) of Wrapped Bitcoin is at least 60 by the end of 2022, it means that the bulls and investors are in change. This could spill over into the first half of 2023, which could make the price of WBTC trade around $50000 by the end of 2023.
Wrapped Bitcoin (WBTC) Price Prediction 2024
The positive sentiment with the news of Bitcoin halving could directly impact the price of WBTC. Since 2024 is a year of Bitcoin halving, and most cryptocurrencies respond in the same trend as Bitcoin, we could see the cost of WBTC trade at $70k by the end of 2024.
Wrapped Bitcoin (WBTC) Price Prediction 2025
By the end of 2025, the price of Wrapped Bitcoin could rise to $120k. This is because of the price surge a year after Bitcoin halved. Also, consider more developments and listing in other exchanges.
Wrapped Bitcoin (WBTC) Price Prediction 2026
With the number of WBTC hodlers on the increase and the growing sentiment about cryptocurrencies, WBTC has the possibility of holding most of its recent gains and consolidating. Hence, the price of WBTC could trade around $140k by the end of 2026 due to the bear market that serves as a market correction after a strong bullish run.
Wrapped Bitcoin (WBTC) Price Prediction 2027
By the end of 2026, most investors will be preparing for a possible trend reversal in the direction of the bulls. This is due to the possibility that the market has attained its minimum support level. The price of WBTC could surge to $150k by the end of 2027.
Wrapped Bitcoin (WBTC) Price Prediction 2028
In 2028, there will be Bitcoin halving. Hence, the consolidating market in 2027 could be followed by a bullish run. This is due to the impact of news surrounding any year of Bitcoin halving. Therefore, the market could attain a higher high-value Wrapped Bitcoin (WBTC) and hit $170k by the end of 2028.
Wrapped Bitcoin (WBTC) Price Prediction 2029
By 2029, there could be much stability in the price of most cryptocurrencies that had stayed for over a decade. This is due to implementing some lessons learned to ensure their investors retain the project’s confidence. This impact, coupled with the price surge that follows a year after Bitcoin (BTC) halving, could surge the price of WBTC to $190k by the end of 2029.
Wrapped Bitcoin (WBTC) Price Prediction 2030
The cryptocurrency market experienced high stability as a result of the hodling activities of early investors so as not to lose future gains in the price of their assets. We could expect the price of Wrapped Bitcoin to trade around $200k by the end of 2030, irrespective of the previously bearish market that followed a market surge in the earlier years.
As said above, Wrapped Bitcoin (WBTC) might reach $37k in 2022 and $200,000 by 2030 if investors have decided that WBTC is a good investment along with mainstream cryptocurrencies like Bitcoin and Ethereum.
It is an Ethereum-based Bitcoin pegged to Bitcoin in the ratio of 1:1. Wrapped Bitcoin (WBTC) was officially launched in January 2019. Merchants and custodians back WBTC. Thirty members control WBTC DAO. The three organizations that partnered to create WBTC are BitGo, Kyber Network, and Ren.
Like other cryptocurrencies, Wrapped Bitcoin (WBTC) can be traded in cryptocurrency exchanges like Binance, Kucoin, Gate.io, and FTX.
Wrapped Bitcoin is a good investment and is worth hodl by investors when its return on investment of over 506% in the past four years is considered.
It has a low possibility of reaching $37k soon. However, the price of WBTC can get the $37k mark if it breaks the $36022 resistance level.
WBTC has a low possibility of surpassing its present all-time high (ATH) price of $162,188.26 in 2022. But this could be reached in 2028 if it breaks much psychological resistance.
The lowest price of WBTC is $3330.12.
It was launched in 2019.
Wrapped Bitcoin (WBTC) price is expected to reach $50000 by 2023.
The price of Wrapped Bitcoin (WBTC) is expected to reach $70000 by 2024.
Wrapped Bitcoin (WBTC) price is expected to reach $120000 by 2025.
The price of Wrapped Bitcoin (WBTC) is expected to reach $140000 by 2026.
Wrapped Bitcoin (WBTC) price is expected to reach $150000 by 2027.
Wrapped Bitcoin (WBTC) price is expected to reach $170000 by 2028.
Wrapped Bitcoin (WBTC) price is expected to reach $190000 by 2029.
Wrapped Bitcoin (WBTC) price is expected to reach $200000 by 2030.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinEdition. No information in this article should be interpreted as investment advice. CoinEdition encourages all users to do their own research before investing in cryptocurrencies.