WRAPPED BITCOIN Price Chart
Wrapped Bitcoin represents an important concept of combining the liquidity of Bitcoin and the new possibilities of the Ethereum blockchain. Thanks to this, Bitcoin holders got the opportunity to invest in DApps. But is everything so optimistic? Let’s keep an eye on the Wrapped Bitcoin price prediction for 2030.
What’s the Wrapped Bitcoin price today?
Wrapped Bitcoin (WBTC) and Bitcoin (BTC) have a 1:1 ratio. According to CoinMarketCap, Wrapped Bitcoin currently has a price of $20,000 with a capitalization of $$5,302,935,442, which puts WBTC in 16th place by total volume in the crypto market.
Wrapped Bitcoin price prediction for 2030
Analyst platform Wallet Investor makes an optimistic long-term price forecast for the coin, predicting a 150% year-on-year growth and nearly 750% growth by 2026 from the Wrapped Bitcoin starting price of $33,345.
DigitalCoin also sees WBTC as a good potential long-term investment. The Wrapped Bitcoin price prediction is more moderate but still optimistic – the price is expected to rise to $49,785 in 2022 and to $149,729 by 2028.
In Gov Capital’s analytical forecast, WBTC is seen as potential inclusion in the portfolios of investors and traders. According to their Wrapped Bitcoin price prediction, the price of the token will reach $91,301 over the next bullish period, and will rise to $100,000 by August 2023.
What impacts the Wrapped Bitcoin price?
The cost of WBTC is mainly influenced by its older brother Bitcoin. For instance the Wrapped Bitcoin starting price today was the same as BTC’s – $20,600.
However, there are other factors that may influence WBTC:
- Integration into Ethereum. Ethereum is the largest network for DApps. According to the State of the dApps directory, it contains more than 3,000 decentralized applications. All of them are available to BTC holders through WBTCs.
- Liquidity and scalability. Integrating Bitcoin liquidity into the Ethereum blockchain helps bridge the gap between Bitcoin and DeFi platforms that may lack liquidity for fast transactions. Since WBTC is located directly on the Ethereum blockchain, compared to Bitcoin, transactions in WBTC are faster and less costly.
- Staking WBTC. This popular DeFi option is now available for BTC holders. Traders can lock Wrapped Bitcoins in a smart contract for a set time and receive a reward for this.
What can we see on the Wrapped Bitcoin price chart?
According to TradingView, the Wrapped Bitcoin monthly price chart (Fibonacci retracement levels) define WBTC monthly support at $9,766.36 and resistance at $35,755.50. WBTC received a monthly “neutral” rating from TradingView analysts. Also you can see Ethereum classic and Monero price chart.