Predicting the Highest Price of Bitcoin and Other Cryptocurrencies in 2022

By Adam Haynes in Cryptocurrency
| July 3, 2022 12:05 pm PDT
Ethereum; Bitcoin; Litecoin

How have your crypto predictions for 2022 been so far? If you have been uncannily accurate or close enough, you could put those talents to good use.

Bovada, one of the leading sites for betting on cryptocurrency prices, has released a few markets you can wager on. This means there is potential for Bitcoin price predictions to make you some cash. Or, if you prefer, you could gamble on the highest crypto prices across all currencies. 

I’ll be talking you through the four markets currently available to bet on. But before we do that, let’s take a glance over the current state of play in the worlds of the major cryptos such as Bitcoin, Ethereum, and Litecoin.

2022 Cryptocurrency State of Play – Where We’re At

Small collage of crypto

Before we start, let me point out what you probably already know — I am not a financial advisor. Therefore, do not treat anything in this piece as advice for investing in Bitcoin, Litecoin, or Ethereum.

Any cryptocurrency price predictions you come across are intended for those looking to bet on crypto props bets. I know enough about the crypto and the betting markets in question to feel comfortable discussing things in any capacity. But again, this is not investment advice.

So, what is the state of play for digital currencies? As we move into the second half of 2022, things are not looking good. Inflation, supply chain problems, and the war in Ukraine have created an unholy trinity that has seen many question Bitcoin, especially, as a recession-proof option.

The foremost of all cryptocurrencies was battered down below the $20,000 mark for the first time this year and is struggling to climb above that threshold as I write. 

The dominance of the coin has taken a real beating, with investors being urged to sell on account of the liquidation of Three Arrows Capital (3AC). The crypto hedge fund is the latest name to be hit following Terra sisters TerraUSD, stablecoin de-pegging debacle which saw some investors lose everything. Terra Luna Classic zoomed 57.0961% in just one day on June 29 but is unlikely to maintain such momentum.

There was a 4.29% crash in the total crypto market on the same day, with trading closing at $859.31 billion. Bitcoin’s dominance fell almost one-fifth of a point down to 42.46%. At the time of writing, BTC is down $19,123.60 with a market cap circa $366.70 billion.

Of course, this is a far cry from many early 2022 crypto predictions. Some experts maintain that BTC will hit $100,000 this year. It’s hard to explain why cryptocurrency isn’t gambling to anyone with their heart set on pumping everything they have into the coin, hoping that things change. Can they change? Most definitely. But if they will is another matter altogether. 

Dizzy Highs to Uncertain Lows

On November 10, 2021, BTC hit an all-time high of $68,789.63. This means that the coin has fallen by over 72% at the time of writing.

Will things get worse before they improve? That looks highly likely, with some suggesting that the coin will fall as low as $14,000 in 2022. A spokesperson at WazirX Trade Desk indicated that while there was no sign of the liquidation of Three Arrows Capital leading to any significant bustle, there was a crucial reason why.

“Bitcoin had dipped below $20K momentarily yesterday, before recovering back. The crypto markets remained largely unfazed by the recent liquidation of the crypto hedge fund, Three Arrows Capital(3AC).

The market sentiment has not changed much either, remaining deep in the “extreme fear” zone. On the hourly time frame, the BTC trend has formed a channel pattern, consolidating between $20K and $22K. The daily RSI is hovering around the 25 levels, reeling in the oversold zone. The next key support is expected at $14,000.”

As for Ethereum? Well, things are looking a little shaky.

Ether is slipping closer to the $1,000 mark, and it looks like a matter of when, rather than if, the token falls below that mark. This is despite Request Network (REQ), which is best described as an Ethereum-based decentralized payment system, booming at over 50% in just one day. 

The other major currency I’ll be looking at in my cryptocurrency predictions is Litecoin. As you may or may not be aware, LTC is edging close to a breakdown from a short-term consolidation pattern. Having hit a yearly low of $43 in June 2022, investors hope this does not lead to an accelerated decline. But a short-term decrease is nailed on, or so it would seem. 

Let’s get to the markets for betting on crypto prices by the start of 2023, which will include a Litecoin price prediction. But as you will have probably expected, we’re going to start things off by looking at BTC.

Highest Price of Bitcoin Between Jul. 1, 2022, and Jan. 1, 2023

Over $40,000 USD+220
Under $40,000 USD-300

Cryptocurrency props can be a lot of fun for the casual gambler. You can generally find a nice range of different bets on the top crypto gambling sites. But they seldom deviate too far from the totals markets, such as the one you see above.

This is a straightforward wager to place, given the concept. Rather than predicting Bitcoin’s price between July 1, 2022, and January 1, 2023, your job is to guess what range it will fall in.

Important

Bovada will use results from coinmarketcap before settling bets. So, please use that site as your price and index information source.

This market, taken from the Bovada sportsbook, has set the over/under at $40,000. The oddsmakers believe that the chances of Bitcoin hitting this figure, never mind the $100,000 touted by some, is unlikely. As you can see, the odds for BTC to rise over 40k between July 1 and New Year’s Day are +220. 

A $100 bet on Bitcoin to hit over this mark will pay out $220 in profit. That seems a price worth exploring. But is it realistic?

Bitcoin logo

While some crypto investors will understand and deeply disdain any fiat money establishments, the source above is worth looking at.

At the end of the day, or should I say by the end of the year, Bitcoin is likely to edge closer to the $30,000 mark. Deutsche Bank has predicted to reclaim $28,000 by the end of 2022. What a contrast this is from the $100,000 predicted by Forbes at the end of 2021. Is the latter figure still attainable? I’m not so sure. Is it possible? Absolutely.

The volatile nature of crypto makes Bitcoin price predictions difficult. If they were easy, everyone would be rich, right? If everyone were rich, the concept of wealth would evaporate faster than a snowball in hell.

So, it’s a gamble. But one that will probably favor those betting on BTC to check in at under $40,000 until January 1, 2023. The odds for that are -300, which means that if you bet $300 on this market and get it right, you will make a profit of $100.

Controversially, I don’t find this market as interesting as others. I’ll recommend passing. But if you are only here to make crypto predictions involving the price of BTC by New Year’s Day 2023, go low.

  • Pick: Under $40,000 USD (-300)

Highest Price of Ethereum Between Jul. 1, 2022, and Jan. 1, 2023

Over $4,000 USD+450
Under $4,000 USD-775

Ethereum price predictions. Give ’em to me. Now.

Ethereum logo

You don’t have to read that in Arnie’s voice to get the point. Nor do I expect you to reply to me through my PC speakers. It was just a fancy opener, nothing more. 

Speaking of fancy, how do you like the look of this market? Willing to make cryptocurrency predictions for the price of Ethereum to rise above $4,000 at any point between July 1 and January 1? If the answer is yes, then you have something to think about. 

Again, it will be challenging to nail how high Ethereum will go between these dates. But with the current state of play, it looks unlikely that the price will go anywhere near the $4,000 mark. As covered earlier, it seems the token’s value will be choking for the time being, as it hovers just above $1,000.

Is it realistic to bet on the highest crypto prices for Ethereum this year exceeding that figure? I don’t believe so. Once again, volatility is something to keep in mind. If you’re struggling with staying grounded when wagering, that’s something you should probably look to avoid going forward. Whether that’s spinning for wins on the top online casinos or gambling on cryptocurrency predictions for 2022.

So, with there being little to no chance of Ethereum hitting over $4k between July 1, 2022, and January 1, 2023, I must go with the under. But is there enough value to justify a bet here? Probably not, so I’ll be avoiding this one.

However, if you want to bet on cryptocurrency price predictions, go for the under bet.

  • Pick: Under $4,000 USD (-775)

Highest Price of Litecoin Between Jul. 1, 2022, and Jan. 1, 2023

Over $200 USD+650
Under $200 USD-1400

Regarding market capitalization, LTC has been the third major crypto on the market for some time.

Although it has probably seen better days, it’s still up there with the world’s best cryptocurrencies by market cap. But the nature of this trending token probably means that any chance of it hitting over $200 between the period set by the bookies is unlikely.

Of all the potential crypto predictions you could make here, this is probably the one you would be better off avoiding most. 2023 will not be the year of Litecoin, which will likely hit under $100 on New Year’s Day. At the time of writing, LTC is trading at $52.95.

Litecoin logo
  • Highest All-Time Price of Litecoin: $412.96
  • Lowest All-Time Price of Litecoin: $1.11
  • Trading Volume: 70,621,794 LTC

 Crypto 2022 highest price predictions for Litecoin work like any other cryptocurrency props on this list.

You need to accurately guess whether the price of LTC will go over or under $200 between July 1 and January 1. Given that this one appears to be losing ground, arguably faster than any of the other major digital currencies, I don’t see any point in betting the over.

Of course, there is no betting value whatsoever on the under. You would need to gamble $1400 for every $100 you will win. If you do have the money to stake, be my guest. But I’d prefer to invest that money wagering on UFC fights on the best UFC betting sites or playing games that would provide me with a more pleasurable and profitable experience.

  • Pick: Under $200 (-1400)

Total Crypto Market Cap Price – Jul. 1, 2022, to Jan. 1, 2023

Over 1.5 Trillion USD+110
Under 1.5 Trillion USD-145
Crypto betting market graphic

Perhaps a total crypto market cap prediction would be the top crypto prop bets market on this list.

As you can see, this is the wager with the lowest gulf of all cryptocurrency props here. It works the same as the others, where you are betting on the over or under-market. Given how the market will respond, the bookies look to be a little more torn on this one.

While betting on any cryptocurrency predictions in 2022 will be a gamble, there might be scope for backing the over. At odds of +110, you would win $110 for every hundred you stake. That’s not bad. But why would I recommend betting the total crypto market cap to swing over the $1.5 trillion figure?

The bearish sentiment continues to provide analysts make predictions for Bitcoin’s price and other coins, something of a headache. Even with Japan making moves to put crypto in a stranglehold following the Terra USD (UST) farce, we will likely see some kind of bounce back between now and Jan. 1.

Crypto lost its $1.7 trillion price but is relying on bulls to keep things stabilized.

A collective display of strength will almost certainly swerve any risk of increasing the volume of leveraged sellers. More importantly, it should keep the $1.19t market capitalization in place and hopefully avoid bearish bets that could wreak havoc.

It’s worth a shot! When you think about everything we have discussed in this guide to crypto price predictions bets, it’s not all doom and gloom. Many of us expected things to be worse than they are, and this “dark winter” for crypto might have a little more sunlight at the end of the tunnel than much of the mainstream media is willing to admit.

  • Pick: Over 1.5 Trillion USD (+110)

Betting on Cryptocurrency Price Predictions – Worth it or Not?

Bitcoin and Ethereum logos

Crypto predictions can be a lot of fun. If you get them right, they can also pay off. It’s always worth keeping an eye on the markets posted by online gambling apps and sites to see what is out there.

But at its core, wagering on any crypto price is taking a risk. Unlike other markets, where you can build a case based on factual information, betting on crypto prices will be a tougher endeavor.

That doesn’t mean you can’t use specialized knowledge to help make accurate predictions for the price of Bitcoin and other cryptos.

If you know more about the state of cryptocurrency than your average Joe, why not use it when you come across these markets? 

Mostly, those making crypto predictions between 2022 and 2023 are playing a guessing game, anyway. In some cases, they are educated guesses, while others are pulling theirs out of their ashtray. That doesn’t mean you can’t teach yourself some valuable differences between the coins and potentially become an expert yourself.

If you’re a crypto philistine, the following piece comparing Bitcoin and Ethereum will give you a little headstart!

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