Wrapped Bitcoin Price Prediction – Will WBTC Price Hit $90K Soon?

This Wrapped Bitcoin (WBTC) price prediction 2022 article is based on technical analysis alone. Below, you will see the confluences that we have taken into consideration upon coming up with our WBTC price prediction and analysis.

Wrapped Bitcoin (WBTC) is one of the active cryptocurrencies that attained a new all-time high price in 2022 during the bubble. To be specific, the crypto was able to attain an all-time price of $162,188.26 on November 16^th, 2021 according to CoinMarketCap data. Investors in crypto have received a return on investment (ROI) of 1100% in the past 3 years.

In this WBTC price analysis and price prediction article, we have a look at the performance of WBTC and if it will reach $90,000 soon. But before that, let us learn more about what Wrapped Bitcoin (WBTC) is and its current position in the cryptocurrency market.

What is Wrapped Bitcoin (WBTC)?

Wrapped BTC (WBTC) was officially launched on January 31^st, 2019 though it was first announced on October 26th, 2018. It is an ERC-20 token that was launched on the Ethereum blockchain, which ensures that it is compatible with all the standards required for tokens that exist in the blockchain, for easy access by decentralized exchanges and decentralized applications (dApps) that run on the Ethereum blockchain.

It is known as the tokenized version of Bitcoin (BTC), which ensures that it is always pegged in the ratio of 1:1 with BTC. Custodians and merchants ensure that this ratio is maintained at all times as WBTC and BTC transactions are facilitated by the bitcoin and Ethereum blockchain.

The three founding organizations for Wrapped Bitcoin (WBTC) are Ren, Kyber Network, and Bitgo.

Technicalities in Wrapped Bitcoin (WBTC)

Some of the factors that enhance the existence of Wrapped Bitcoin (WBTC) are:

• It is multi-chained: Wrapped Bitcoin (WBTC) though was launched on the Ethereum blockchain can as well be exchanged on the Tron blockchain.
• Ethereum node: this ensures that cryptocurrency exchanges like Kucoin, Binance, Kraken, and others can easily trade on it instead of interacting with both the Bitcoin blockchain and Ethereum network before a transaction can be supported.
• Burning: is the action of redeeming Bitcoin for WBTC tokens, and only merchant addresses can do this. The amount to be ‘burnt’ is deducted from the merchant’s WBTC balance (on-chain) and the supply of WBTC is then reduced.
• Minting: refers to the process of creating new wrapped tokens. Minting in the wrapped framework is initiated by a merchant and performed by a custodian.

Wrapped Bitcoin (WBTC) Current Market Status

Wrapped Bitcoin (WBTC) remains to be one of the most popular cryptocurrencies. According to CoinMarketCap, the WBTC price is $41,765.72 and with a 24-hours decrease in price by 1.13%.

In terms of its market standing, WBTC market capitalization amounts to almost $10,939,041,656 with a 24-hour trading volume of over $101,748,296. As a result, the WBTC ranks as one of the top 20 cryptocurrencies in CoinMarketCap. With all these achievements, we can say that WBTC has come a long way in developing its technology throughout the years.

Now that you already have an idea about what Wrapped Bitcoin (WBTC) cryptocurrency is, do you think WBTC is a good investment this 2022? If you are already excited to know, come, and together let us check this CoinQuora Wrapped Bitcoin (WBTC) price prediction and price analysis article.

Wrapped Bitcoin (WBTC) Price Analysis

Currently, Wrapped Bitcoin (WBTC) holds 18^th place on CoinMarkCap. But will the latest upgrades, development, and changes in the WBTC ecosystem help the cryptocurrency price to reach higher? Let’s proceed to the charts in this WBTC price prediction 2022 article.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for Wrapped Bitcoin (WBTC) above, it could be seen that the last candlestick is moving away from the bottom curve and breaking out further. This could lead to a continuous bullish run for some time.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of Wrapped Bitcoin (WBTC) 1day chart of WBTCUSDT shows it is at 52.25 which indicates a strong trend. If this value continues to rise, WBTC could experience a breakout above the 70 mark region, which indicates an overbought region. However, there could be a bearish run since it has turned downwards.

From the 90 days and 30 days moving averages for Wrapped Bitcoin (WBTC), it could be seen that WBTC would go bullish in the long-term since the 90-day moving average is above the 30-day moving averages. Hence, long-term investors could recover some part of their investments that had been lost in recent weeks due to crypto winter.

Wrapped Bitcoin (WBTC) Price Prediction

Would the market performance be enough for WBTC to maintain its bullish position in 2022, having gained 10% in the past two weeks? Are you excited to know the results? Well, what are we waiting for? Let’s get to the bottom of it in this WBTC price prediction 2022.

Wrapped Bitcoin (WBTC) has shown a bearish run in the past 30 days. However, it could break the present $37710.95 support1 level and plummet to $11356.06 at support3 level which is the 2022 bearish signal.

However, with the present candlestick that is bullish, WBTC might break the present $46188.74 resistance1 and even move higher.

Meanwhile, our long-term Wrapped Bitcoin (WBTC) price prediction for 2022 is bullish. Even more, it has a high possibility of reaching a new all-time high this year. However, that will only happen if it breaks past a number of psychological resistances.

Wrapped Bitcoin (WBTC) Price Prediction 2022

If this bullish trend continues, Wrapped Bitcoin (WBTC) will reach $70,000 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $46,188.74. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $90,000 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Wrapped Bitcoin (WBTC) Price Prediction 2023

The price of WBTC can move even great heights, however reaching $150,000 in 2023. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency WBTC breaks past the psychological resistance level.

Wrapped Bitcoin (WBTC) Price Prediction 2024

As per the latest upgrades, developments, WBTC price prediction, and new project forecasts of the platform. Moreover, this might boost the price of WBTC in the crypto market, and it will be in the class of the best investments in 2024 that can spike and reach around $200,000.

Wrapped Bitcoin (WBTC) Price Prediction 2025

In the next four years, Wrapped Bitcoin(WBTC) prices could reach $300,000. However, reaching this level could not be so difficult for WBTC as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that WBTC has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Wrapped Bitcoin (WBTC) Price Prediction 2026

By 2026, the price of WBTC would reach $500,000 since many individuals will have better knowledge of cryptocurrencies, therefore, increasing the investment in the industry.

Conclusion

Wrapped Bitcoin (WBTC) has a bright future ahead of it in 2022. With ongoing developments happening within the Ethereum blockchain and more attraction of developers, as well as in the overall crypto market, we may see WBTC reach new heights breaking the present all-time high price of $162,188.26 that was attained on Nov 16^th, 2021 according to CoinMarketCap.

Even more, the bullish WBTC price prediction for 2022 is $70,000. As said above, it may even reach a new ATH if investors have decided that WBTC is a good investment in 2022 along with mainstream cryptocurrencies like Bitcoin and Ethereum. Moreover, it has a chance to reach $46,000 in the latter parts of this year as well.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.