The past 12 months have been especially cruel for the crypto market, losing up to 70% of the dollar value, Bitcoin is not Here are four positive and one not-so-optimistic predictions for Bitcoin in 2023.
Tim Draper: BTC will hit $250K
Tim Draper is perhaps one of the most outspoken and prominent Bitcoin advocates. Hence, it comes as no surprise that he maintains his bullish stance and thinks BTC price could hit $250K by the end of the year.
This will require a bounce of around 1400%.
Draper is also quite positive about Bitcoin’s halving in 2024, arguing that it will have a major impact on the price.
Carol Alexander: $50K in 2023
Another positive prediction is from a finance professor at the University of Sussex – Carol Alexander. She previously suggested that the BTC price will drop to $10k by 2022, though it hasn’t quite reached that level.
Now, however, she believes the cryptocurrency is poised to take a hit, but the reasons are slightly different from what people expect.
The professor predicted that the catalyst will be the dominoes from FTX crush, fueling the “managed bull market.”
“There will be a managed bull market in 2023, not a bubble – so we won’t see the price overshooting as before. […] We’ll see a month or two of stable trending prices interspersed with range-bound periods and probably a couple of short-lived crashes.”
Alistair Milne: BTC approx $45K
The CIO of the Altana Digital Currency Fund, Alistair Milne, has also made many predictions, including the Bitcoin price.
He said:
“We should see at least ~$45k by end of 2023 (which you might discount due to the damage done). Alternatively, if central banks decide to tolerate a higher inflation target (e.g. cut earlier to avoid recession despite 3-4% inflation), hard assets may become en vogue again.”
In a Twitter thread, he also predicted that the price will reach $150-300k by the end of 2024, arguing that “this is no time to be bearish and is likely peak opportunity for the bulls.”
He said he would go all in again (excluding capital that he expects to use for other purposes in the next two or three years).
Eric Wall: BTC Will Pump Above $30K
Another bullish believer is Eric Wall, predicting the cryptocurrency will pump above $30k at some point in 2023 without giving an exact timeline.
He also said that $15.4k is the lowest for BTC.
Interestingly, Wall has also made a bunch of other predictions. He believed that Sam Bankman-Fried will spend more than 10 years in prison, implying that the lawsuits against Sam and his empire will end after that. SBF was released on $250 million bail in December.
In addition, he also believed that Ethereum will allow the withdrawal of staked ETH.
Standard Chartered: Bitcoin Will Be Down to $5K
Besides positive forecasts, there is also a gloomy one.
According to Standard Chartered, BTC could drop to as low as $5k. The financial institution released its stance in December, saying:
“More and more crypto firms and exchanges find themselves with insufficient liquidity, leading to further bankruptcies and a collapse in investor confidence in digital assets.”