Bitcoin is expected to reach its peak at $42,000 in 2023, with an end-of-year price prediction of $38,000, according to Finder’s bitcoin price predictions report. The report, based on a survey of 29 industry specialists, reveals that 43% of panelists believe bitcoin is currently underpriced, 36% say it is priced fairly, and 21% consider it overpriced.
Bitcoin Price Predictions: Experts Forecast $38K End-of-Year Value, $42K Peak in 2023
Finder’s average prediction for the peak price of bitcoin (BTC) in 2023 remains consistent with previous estimates, but the end-of-year projection has increased by 9% to $38,000. Futurist Joe Raczynski anticipates bitcoin to end 2023 slightly higher than the panel average at $40,000, citing growing institutional interest and the potential approval of a bitcoin spot ETF, which could result in substantial investments.
Martin Froehler, CEO of Morpher, believes bitcoin is currently undervalued, attributing his end-of-year prediction of $40,000 to the anticipated bitcoin halving event and the ongoing interest rate cycle. Froehler expects the macroeconomic headwinds to fade and foresees a significant price increase following the halving event.
Looking ahead, the panel forecasts an average bitcoin price of approximately $100,000 by the end of 2025 and over $280,000 by the end of 2030. Alex Svanevik, CEO of Nansen, predicts bitcoin to be valued at $115,000 and $260,000 by the end of 2025 and 2030 respectively, citing high inflation and mistrust in institutions as contributing factors.
On the more bullish end of the spectrum, Ben Ritchie, managing director at Digital Capital Management, projects BTC to be worth $150,000 by 2025 and $375,000 by 2030. Ritchie emphasizes the multifaceted utility of bitcoin. The Digital Capital Management executive said:
Bitcoin’s utility extends beyond its function as a currency, encompassing data storage essential for the issuance of smart contract tokens and non-fungible tokens. Additionally, its robust security features contribute to its allure, instilling confidence among investors regarding the safekeeping of their bitcoin holdings.
Bearish Points of View
However, not all panelists share the same level of optimism. Kate Baucherel, a digital strategist at Galia Digital, predicts bitcoin to remain at its current price of $30,000 by the end of 2023 before reaching $55,000 in 2025. Jeremy Cheah, associate professor of decentralized finance at Nottingham Trent University, gives a more modest prediction of $45,000 per BTC by the end of 2025, highlighting potential lawsuits and tighter market regulations as factors affecting the market.
John Hawkins, senior lecturer at the University of Canberra, expresses a more bearish view, forecasting bitcoin to be valued at just $20,000 by the end of 2023 and continuing to decline to $100 by the end of 2030. Hawkins considers bitcoin a speculative bubble and believes that the future lies in central bank digital currencies (CBDCs) rather than decentralized cryptocurrencies like bitcoin.
In terms of investment strategies, the majority of panelists (59%) advise buying bitcoin, while 33% recommend holding and only 7% suggest selling. Check out the entire prediction report published on finder.com here.
What do you think about the experts’ predictions concerning bitcoin’s peak price this year and year-end forecasts? Share your thoughts and opinions about this subject in the comments section below.
source https://news.bitcoin.com/btc-to-peak-at-42k-in-2023-finders-bitcoin-price-predictions-report/
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