As always, Bitcoin (BTC) price predictions vary according to analysts. Because Bitcoin price action is influenced by many macroeconomic factors. However, price stability is also supported by various events that occur from time to time. Therefore, it is difficult to predict the price of the leading cryptocurrency. So what do experts expect for 2023? Here are the details…
There are different predictions for bitcoin price and future
As we have also reported as Kriptokoin.com, finance, politics and the world economy in general are the most influential factors for the price of Bitcoin. Therefore, it is not easy to make predictions about price trends by ignoring events that have not happened yet. Comparisons by many experts in the field are based on very broad estimates. On the one hand, there are those who predict an exponential rise as early as 2023. On the other hand, the number of people who think that Bitcoin will lose interest is increasing.
Forecasts for the first quarter of 2022 were extremely positive for Bitcoin. Already in the first months of the year, the cryptocurrency was expected to break records and reach $ 100,000. This was because a fair amount of optimism was born in the world’s most traded cryptocurrency, especially in March when the value of Bitcoin approached $50,000 from $37,000. The geopolitical conditions, the uncertainty caused by the war and the inflation caused the dreams of investors to be shattered.
Draper: “Women will be the most important factor for Bitcoin price action”
The situation today is really uncertain. The market is still split between those who believe in cryptocurrency projects and those who lost interest after seeing a stock market crash as powerful as Sam Bankman Fried’s. According to the forecast of billionaire Tim Draper, the price of Bitcoin will reach crazy numbers. Draper said that Bitcoin will reach the price of 250,000 by the middle of 2023. According to the statements of the venture capitalist, it will be women who will raise Bitcoin to $250,000. Draper stated the following in his statements:
It will be women who will raise Bitcoin to $250,000. This is because women control about 80 percent of retail spending, and you can’t yet buy food, clothes, or rent a house in Bitcoin. Once this is possible, there will still be no reason to own fiat currencies.
In response, investor Mark Mobius said that Bitcoin could drop to $10,000 next year, down more than 40% from current prices. Mobius had correctly predicted the fall of BTC this year. Even tougher are Standard Chartered analysts, who say Bitcoin could drop to $5,000 next year. Analysts pointed to a decrease of about 70% from today’s price. To put an end to forecasts ranging from crazy numbers to drastic drops, there is the European Central Bank view that believes Bitcoin is heading towards apathy. In fact, two members of the ECB recently said:
Bitcoin’s value peaked at $69,000 in November 2021 and dropped to $17,000 in mid-June 2022. Since then, the value has hovered around $20,000. For Bitcoin supporters, the apparent stability signals a pause on the way to new highs. More likely, however, it is an artificially induced last breath before the road to apathy.
So what are analysts waiting for?
First of all, it is necessary to deal with an unexpected event in 2023, namely the halving of Bitcoin. The market is a mirror of many factors, and there are some that sharply affect the price of cryptocurrencies over time, and the Bitcoin halving is one of them. In the past, the Bitcoin halving has always positively affected the market. However, it is not expected until 2024. Therefore, it would not be right to wait for a bullish year for crypto money until the halving event occurs.
Analysts announced that they believe the second half of 2023 will be an extremely positive recovery time. Through chart analysis, it is said that in 2023, the minimum value of Bitcoin could be around $46,000. The maximum target is for BTC to reach $60,000. Frankly, the crypto market is extremely volatile. This means that any growth in BTC will not be stable. Instead, we will likely observe a lot of upward movement followed by short bearish phases.
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