Bitcoin price predictions this year and some reasons contributing to the decline in its price.

* Bitcoin to 200 thousand dollars.

Bitcoin Foundation president and billionaire investor Brock Pierce says one catalyst could push the price of Bitcoin up to $200,000 this year.

In an interview with Fox Business, translated by Voice of Beirut International, Pierce said he was mostly focused on the external influences shaping the price of bitcoin and the crypto markets.

He also noted that governments around the world are printing a "massive amount of currency" and that continuing to do so will affect inflation as a price driver.

According to Pierce, the volatility of bitcoin's price provides significant returns to investors and could continue to act as a catalyst for the growth of digital asset prices.

Pierce emphasized during the interview that financial uncertainty in the context of a broader global financial system would be the "primary driver" of Bitcoin price growth.

He also mentioned that the Bitcoin price is very likely to rise to $200,000 before falling again.

The price of Bitcoin increased by about 60% over the past year to outperform other financial assets, amid reports about its importance in resisting inflation and its role in diversifying investments and adopting financial institutions for it, but it has faced problems in recent weeks in light of the turmoil of financial markets.

However, digital currencies in general, including Bitcoin, have been experiencing significant declines in their value since the beginning of the current year 2022.

Where many observers attribute the reason for the current decline, to two crises, one related to the energy crisis in Kazakhstan, and the other related to the rise in US bond yields.

Kazakhstan is witnessing a violent wave of unrest and protests, against the background of the government's massive increase in energy prices, which prompted the Kazakh authorities to cut off the Internet throughout the country, which led to the disappearance of millions of bitcoins from Internet servers, and mining platforms inside Kazakhstan stopped working.

As of August 2021, Kazakhstan was hosting 18 percent of global bitcoin mining, according to Fortune.

As for US bond yields, their rise led investors to lose appetite for high-risk assets, amid global anticipation of inflation rates and the start of central banks to tighten monetary policies.

The Federal Reserve has tended recently to increase interest rates and reduce stimulus packages in the context of a global policy of tightening monetary policies, which made investors refrain from high-risk assets, especially after the recent rise in US bond yields.

* Cryptocurrency rates today

-Bitcoin BTC fell 0.33% to $41809.70.

-Ethereum ETH fell 2.60% to $3,129.50.

- Binance coin BNB decreased by 4.58% to reach $433.74.

- The cardano ADA coin fell by 4.03% to record $1.18.

-XRP is down 2.62% to $0.7524.

-DOGE coin (Dogecoin) fell 3.07% to $0.1521.

-Litecoin LTC fell 1.88% to $130.44.