Wrapped Bitcoin (WBTC) Price Prediction 2022 — Will WBTC Hit $17.5K Soon?

Wrapped Bitcoin (WBTC) Price Prediction 2022 — Will WBTC Hit $17.5K Soon?
  • Bullish WBTC price prediction is $21516.76 to $36920.94
  • Wrapped Bitcoin (WBTC) price might also reach $17,500 soon.
  • WBTC bearish market price prediction for 2022 is $15707.52.

In Wrapped Bitcoin (WBTC) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about WBTC to analyze the future movement of the cryptocurrency. 

Wrapped Bitcoin (WBTC) Current Market Status

According to CoinGecko, the price of Wrapped Bitcoin (WBTC) is $17,154.35 with a 24-hour trading volume of $124,755,441 at the time of writing. However, WBTC has increased by 1.5% in the last 24 hours.

Moreover, Wrapped Bitcoin (WBTC) has a circulating supply of 214,745 WBTC. Currently, Wrapped Bitcoin (WBTC) trades in cryptocurrency exchanges such as Binance, Coinbase Exchange, Kraken, KuCoin, Bitfinex and Bitstamp. 

What is Wrapped Bitcoin (WBTC)?

Wrapped Bitcoin is an ERC20 token representing Bitcoin on the Ethereum blockchain. There is a 1:1 ratio of Bitcoin behind every WBTC. Wrapping Bitcoin can transfer Bitcoin faster on the Ethereum blockchain and opens up the possibility of using BTC on Ethereum ecosystem.

Wrapped Bitcoin (WBTC) Price Prediction 2022

Wrapped Bitcoin (WBTC) holds the 22th position on CoinGecko right now. WBTC price prediction 2022 is explained below with a daily time frame.

WBTC /USDT Descending Channel Pattern (Source: TradingView)

The above chart of Wrapped Bitcoin (WBTC) laid out the descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.

Currently, Wrapped Bitcoin (WBTC) is in the range of $17106.42. If the pattern continues, the price of WBTC might reach the resistance levels of $18652.55, $20277.08 and $22787.26. If the trend reverses, then the price of WBTC may fall to $15360.52.

Wrapped Bitcoin (WBTC) Support and Resistance Levels

The chart below shows the support and resistance levels of Wrapped Bitcoin (WBTC).

WBTC /USDT Support and Resistance Levels (Source: TradingView)

From the above daily time frame, we can interpret the following as the resistance and support levels for Wrapped Bitcoin (WBTC). 

Resistance Level 1$21516.76
Resistance Level 2$28138.80
Resistance Level 3$36920.94
Support Level$15707.52
WBTC /USDT Support and Resistance Levels

The charts show that Wrapped Bitcoin (WBTC) has performed a bullish trend over the past month. If this trend continues, WBTC might run along with the bulls overtaking its resistance level at $36920.94.

Accordingly, if the investors turn against the crypto, the price of Wrapped Bitcoin (WBTC) might plummet to almost $15707.52, a bearish signal.

Wrapped Bitcoin (WBTC) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Wrapped Bitcoin (WBTC) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of WBTC lies below the cutoff line, indicating weak participants in the current trend.

WBTC /USDT RVOL, MA, RSI (Source: TradingView)

Also, the Moving Average (MA) of Wrapped Bitcoin (WBTC) is shown in the chart above. Notably, the Wrapped Bitcoin (WBTC) price lies below 50 MA (short-term), so it is completely in a downtrend. Currently, WBTC is in a bearish state. Therefore, there is a possibility of a reversal trend of WBTC at any time.

Meanwhile, the relative strength index (RSI) of the WBTC is 49.59. This means that Wrapped Bitcoin (WBTC) is in an oversold state. However, this means a major price reversal of WBTC may occur in the upcoming days. So, traders need to trade carefully. 

Wrapped Bitcoin (WBTC) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Wrapped Bitcoin (WBTC). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

WBTC /USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Wrapped Bitcoin (WBTC). Currently, the ADX of WBTC lies in the range of 55.1359, so it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of the Wrapped Bitcoin (WBTC). RVI measures the constant deviation of price changes over a period of time. The RVI of WBTC lies below 50, indicating low volatility. In fact, the RSI of the Wrapped Bitcoin (WBTC) is at 49.59, thus confirming a potential buy signal.

Comparison of WBTC with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  Wrapped Bitcoin (WBTC).

BTC Vs ETH Vs WBTC Price Comparison (Source: TradingView)

From the above chart, we can interpret that the price action of WBTC is similar to BTC and ETH. This indicates that when the price of BTC and ETH increases or decreases, the price of WBTC also increases or decreases respectively. 

Wrapped Bitcoin (WBTC) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Wrapped Bitcoin (WBTC) might probably attain $18,000 by 2023.

Wrapped Bitcoin (WBTC) Price Prediction 2024

With several upgrades in the network, Wrapped Bitcoin (WBTC) might enter a bullish trajectory. If the coin grabs the attention of major investors, WBTC might rally to hit $20,000 by 2024. 

Wrapped Bitcoin (WBTC) Price Prediction 2025

If Wrapped Bitcoin (WBTC) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 3 years, WBTC would rally to hit $22,000.  

Wrapped Bitcoin (WBTC) Price Prediction 2026

If Wrapped Bitcoin (WBTC) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, WBTC would rally to hit $24,000. 

Wrapped Bitcoin (WBTC) Price Prediction 2027

If Wrapped Bitcoin (WBTC) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, WBTC would rally to hit $26,000. 

Wrapped Bitcoin (WBTC) Price Prediction 2028

If Wrapped Bitcoin (WBTC) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, WBTC would hit $28,000 in 2028.

Wrapped Bitcoin (WBTC) Price Prediction 2029

If investors flock in and continue to place their bets on Wrapped Bitcoin (WBTC), it would witness major spikes. WBTC might hit $30,000 by 2029.

Wrapped Bitcoin (WBTC) Price Prediction 2030

With greater advancements in the WBTC Protocol, the crypto community might continue to invest in WBTC for the next 8 years and drive significant price rallies for the token. Hence, Wrapped Bitcoin (WBTC) might hit $32,000 by 2030.

Conclusion

With continuous improvements in the Wrapped Bitcoin network, we can say that 2022 is a good year for WBTC. For this reason, the bullish price prediction of Wrapped Bitcoin (WBTC) in 2022 is  $36920.94. On the other hand, the bearish price prediction of Wrapped Bitcoin (WBTC) for 2022 is $15707.52.

Furthermore, with the advancements and upgrades to the Wrapped Bitcoin ecosystem, the performance of WBTC would help to reach above its current all-time high (ATH) of $70,643.40 very soon. But, it might also reach $17,500 if the investors believe that WBTC is a good investment in 2022.

FAQ

1. What is Wrapped Bitcoin (WBTC)?

Wrapped Bitcoin (WBTC) is a tokenized version of Bitcoin that runs on the Ethereum blockchain.

2. Where can you purchase Wrapped Bitcoin (WBTC)?

Wrapped Bitcoin (WBTC) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, Kraken, KuCoin, Bitfinex and Bitstamp.

3. Will Wrapped Bitcoin (WBTC) reach a new ATH soon?

With the ongoing developments and upgrades within the platform, WBTC has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Wrapped Bitcoin (WBTC)?

On November 10, 2021, Wrapped Bitcoin (WBTC) reached its new all-time high (ATH) of $70,643.40.

5. Is Wrapped Bitcoin (WBTC) a good investment in 2022?

Wrapped Bitcoin (WBTC) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of the Wrapped Bitcoin in the past few months, WBTC is considered a good investment in 2022.

6. Can Wrapped Bitcoin (WBTC) reach $17,500?

Wrapped Bitcoin (WBTC) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues the Wrapped Bitcoin (WBTC) will hit $17,500 soon.

7. What will be the Wrapped Bitcoin (WBTC) price by 2023?

 Wrapped Bitcoin (WBTC) price is expected to reach $18,000 by 2023.

8. What will be the Wrapped Bitcoin (WBTC) price by 2024?

 Wrapped Bitcoin (WBTC) price is expected to reach $20,000 by 2024.

9. What will be the Wrapped Bitcoin (WBTC) price by 2025?

 Wrapped Bitcoin (WBTC) price is expected to reach $22,000 by 2025.

10. What will be the Wrapped Bitcoin (WBTC) price by 2026?

 Wrapped Bitcoin (WBTC) price is expected to reach $24,000 by 2026.   

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Recommended For You

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.