For the first time since July, Bitcoin's price fell below $34,000 in January. That's a significant drop from the most recent all-time high, which was over $68,000 in November.

Bitcoin is still more than twice as valuable as it was just 

Bitcoin is still more than twice as valuable as it has been just  These kinds of ups and downs are nothing new for Bitcoin.

Despite the volatility and recent price drop, many analysts believe Bitcoin will ultimately cross the $100,000 milestone, however, there are various viewpoints on when that will happen.

Volatility is nothing new, and it's one of the main reasons why new crypto investors should be cautious.

1-Bitcoin Price Forecasts

Coming off, it's an all-time high in November, a $100,000 Bitcoin price was easy to forecast late last year. With Bitcoin's steep decline since then, the prediction game has become much more difficult.

The most ardent crypto doubters anticipate that Bitcoin will crash to $10,000 by 2022, but a middle ground could be that Bitcoin can still reach $100,000, as many experts projected late last year — albeit on a slower schedule.

Back in November 2021, Kate Waltman, a New York-based certified public accountant who specialized in crypto, told us, "The most educated instructors in the sector are expecting $100,000 Bit Coin in Q1 2022 or sooner."

However, as huge firms re-evaluate the crypto market, bullish analysts are re-evaluating the crypto industry as a whole.

2-What Factors Affect Bitcoin's Price

Supply and demand, public mood, the news cycle, market events, scarcity, and other economic factors all influence the price of cryptocurrencies, just as they do any other currency or investment.

Bitcoin's value is influenced by more factors than the ordinary currency or securities because it is a new and emerging asset. Here are a few examples:

2-1 Scarcity

There are only 18 to 19 million Bitcoins in circulation right now, and production will cease at 21 million. This inherent scarcity, according to industry insiders, is a key element of cryptocurrency's attraction.

"There's a fixed supply, but growing demand," says Alexis Johnson, president of Light Node Media, a blockchain public relations and events company.

Other analysts argue that Bitcoin is valuable because people value it. "That's why everyone's upset."

2-2Adoption in the Mainstream

According to Waltman, one of the key causes fueling Bitcoin's price surge is the rate at which new users are buying and investigating cryptocurrencies.

She believes that "crypto technology is being accepted at a faster rate than humanity first adopted internet technology." The compounding acceleration of new adoption might continue to push Bitcoin's value higher and higher, assuming it continues.

According to data from the digital asset management business CoinShares, bitcoin adoption has been expanding at a rate of 113 % per year. (People, on the other hand, are adopting the internet at a slower rate of 63 percent.) The article claims that if consumers warm up to Bitcoin at the same rate as they did to the internet in its early days (or faster), there would be 1 billion Bitcoins in circulation

3-What Every Investor Should Know About Bitcoin Price Forecasts

Financial planners and other specialists warn against letting Bitcoin's price volatility drive you to make emotional decisions, as they do with any investment. Investors who make regular contributions to passive index funds and ETFs outperform the market over time, according to studies, thanks to a strategy known as dollar-cost averaging.

That's why experts advise investing no more than 5% of your whole portfolio in cryptocurrencies, and never investing at the expense of emergency savings or paying off high-interest debt. People who invest in diversified investments like low-cost index funds, with crypto making up a modest part of their portfolio, are much more likely to build long-term wealth and save for retirement.