The year 2023 is upon us, and a series of new predictions regarding bitcoin prices for that year are in the air. The past 12 months have been particularly difficult for the cryptocurrency market, which has lost more than 70% of its total capital.
Nevertheless, many analysts seem very optimistic about the near-term outlook for BTC, and four positive and one not-so-positive forecast for 2023 are listed below.
Tim Draper: Bitcoin is worth $250,000.
Tim Draper is perhaps one of the most outspoken and prominent Bitcoin advocates. It is therefore not surprising that he remains very optimistic and believes that the BTC exchange rate could reach $250,000 by the end of the year.
This would require an increase of approximately 1, 400%.
Draper is also very positive about the half-life in 2024 and believes this event will have a significant impact on the exchange rate.
Carol Alexander: BTC will reach $50, 000 in 2023.
Another expert with a positive forecast is Carol Alexander, professor of finance at the University of Sussex. Her earlier predictions tended to believe that BTC would fall to $10, 000 in 2022, which was not the case.
However, investors are now predicting that the first cryptocurrency is poised to grow, albeit perhaps for slightly different reasons than expected.
The professor believes that the influx of “dominoes” that collapsed after the collapse of the FTX stock market will be the catalyst for what she calls a “managed bull market.”
She says, “In 2023, we won’t see the gains we saw before, because we will have a guided bull market, not a bubble. […] We will see one to two months of stable trend prices interspersed with periods of limited bandwidth. Maybe a few momentary collapses.”
Alistair Milne sees bitcoin at $45, 000…
Another person who made several high-profile predictions, including for the price of bitcoin, was Altana Digital Currency Fund IT Director Alistair Milne.
He said, “By the end of 2023, we expect the price of bitcoin to be at least~45, 000 dollars (may not be taken into account due to damage). Conversely, if the central bank decides to allow a higher inflation target (e.g., an early pullback to avoid a recession even though inflation is at 3-4%), real assets could be back in vogue.
He also tweeted that BTC would reach $150,000 to $300,000 by the end of 2024, arguing that “this is not a time for bearish sentiment, but perhaps a peak opportunity for bulls.” Repeatedly retrying…
Eric Wall: Bitcoin will exceed $30, 000
Another expert who joined the bull train was Eric Wall, who believes bitcoin will exceed $30, 000 by 2023, but offered no more precise timeline.
The crypto enthusiast also added that a price of $15, 400 is the bottom for bitcoin.
Interestingly, Wall made a number of other predictions. He believes that Sam Bankman-Fried will face more than 10 years in prison. That means the case against him and his company will be over by then; SBF was released on $250 million bail in December 2022.
Standard Chartered: Bitcoin will trade at $5, 000
All of the above predictions were most optimistic. This is the worst.
BTC could fall to $5, 000, according to predictions from Standard Chartered, a British international financial conglomerate. The financial institution expressed the following thoughts last December.
“More and more cryptocurrencies and exchanges are facing a lack of liquidity, leading to further bankruptcies and a collapse of investor confidence in digital assets.” Not all results were downloaded. Repeated retries…