There have been bittersweet forecasts for the expected price of bitcoin this year, according to which it is not expected to exceed 30,000 dollars. In fact, the new record will probably have to wait until 2025, according to a survey involving 56 analysts. But the same is viewed through an optimistic lens: in 2025, bitcoin may cost three times as much as it does now…
The price of bitcoin ($23,000) is almost exactly a third of the November 2021 peak ($68,789). According to a survey involving 56 cryptocurrency market analysts, bitcoin will just reach $29,000 in 2023 and will not see the previous record once more until 2025, according to a poll prepared by Finder.com. Analysts also predicted a low of $13,000 for this year.
Can we be happy if bitcoin is in a band?
The price of bitcoin will tend to range for most of 2023, said Vetle Lunde, senior analyst at investment firm Arcane Crypto. Indeed, higher costs of living and a challenging economic backdrop will reduce the ability of investors to allocate capital to the number one cryptocurrency.
eat bitcoin price streamm here
However, according to Daniel Polotsky, president of Bitcoin ATM provider CoinFlip, “we may be close to the bottom of the bitcoin and crypto market. He added:
Most can be a good time to be at the bottom let’s check in.
Enthusiasm was moderate at the beginning of the year
CNBC’s slightly earlier survey found forecasts scattered in a much wider range at the beginning of January. Analysts at Standard Chartered Bank put bitcoin on their annual list of “potential financial market surprises” and considered $5,000 possible, although they also called it “not very likely.” At the other extreme was billionaire and bitcoin bull Tim Draper, famous for his always overflowing optimism. The venture capitalist known from the Internet boom of 2000 predicted an exchange rate of 250,000 dollars by the end of the year.
A 1,400 percent jump or a 70 percent drop?
The boldest predictions have come out, a 1,400 percent rise and a 70 percent collapse are also included in the deck, CNBC wrote. Also on the list are Mark Mobius with a $10,000 prediction and Carol Alexander with $50,000.
In their other article, Anthony Scaramucci (SkyBridge Capital) predicts prices between 50 and 100 thousand dollars, but he expects this only in 2-3 years. He called this year only the year of recovery. And Meltem Demirors (CoinShares) expects banding this year, the bottom of which can be between 15,000 and 20,000 and the top between 25,000 and 30,000 dollars.
When will bitcoin be $188,000?
According to Finder’s experts, on the other hand, bitcoin cannot reach $188,000 in 2030 at the earliest. Half of the field believes that now is the time to hold bitcoin, and two-thirds called the coin undervalued.
Three-quarters predicted that the vital institutional investor sector would not abandon bitcoin despite a series of scandals and crashes. (Scandals like Terra and the UST stablecoin, the hedge fund Three Arrows Capital, the bankruptcy of several other cryptolenders, and the collapse of the FTX crypto exchange.) On the other hand, more than 20 percent said they see large institutional investors leaving bitcoin and crypto.
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Resources in English:
Coinmarketcap, Forbes, CNBC, CNBC
Cover image source: Pixabay.com
