Bitcoin Prices to Soar to $30,000 in Third Quarter: VanEck

• Investment manager VanEck predicts Bitcoin (BTC) will hit $10,000 to $12,000 in the first quarter.
• The prediction is due to the impending energy crisis, which has made mining largely unprofitable.
• Ripple losing the SEC lawsuit may coincide with this final downdraft, taking out nearly the entirety of the post-2020 halving bull market.

The world of cryptocurrency has been facing turbulent times of late. With energy prices on the rise and Bitcoin prices dropping, it is no surprise that investment manager VanEck has predicted that the price of Bitcoin (BTC) will hit $10,000 to $12,000 in the first quarter of the year.

The prediction is due to the impending energy crisis, which has made mining largely unprofitable. The MVIS® Global Digital Assets Mining Index median market cap rests at $180 million, with nearly all constituents burning cash and trading well below book value. This has made it difficult for miners to stay afloat, and many are likely to restructure or merge in order to stay in business.

At the same time, Bitcoin prices have become cheaper than the all-in-sustaining cost of mining BTC, making mining even more difficult. To add to the complexity, Ripple losing the SEC lawsuit may coincide with this final downdraft. This could take out nearly the entirety of the post-2020 halving bull market.

In addition, VanEck has predicted that BTC prices will reach $30,000 by the third quarter of the year. According to the company statement, BTC has begun to show “price sensitivity to interest rate hikes”, making the price swings even more unpredictable.

Overall, the next few months may be a roller coaster for cryptocurrency investors. With BTC prices expected to hit $10,000 to $12,000 in the first quarter and $30,000 by the third quarter, investors will need to keep a close eye on the market and make informed decisions. In light of the uncertain times, it would be wise for investors to remain cautious and only invest what they can afford to lose.