2023 is here, and with it comes a stream of predictions for Bitcoin price throughout the year. The past 12 months have been particularly devastating for leading crypto, which has lost more than 70% of its value. However, many seem quite optimistic about the short-term future of BTC. Here are 7 Bitcoin price predictions for 2023.
Tim Draper: Bitcoin price will be $250,000
Tim Draper is perhaps one of the most outspoken and prominent Bitcoin permabulls. Therefore, it is not surprising that he maintains his optimistic stance and thinks that it is possible for the price to reach $250,000 by the end of the year. That means a rally of around 1,400%. Draper is also very positive about the 2024 halving, considering it will have a big impact on prices.
Carol Alexander: Bitcoin price will hit $50,000 in 2023
Another person who makes a positive prediction is Carol Alexander, professor of finance at the University of Sussex. In her previous prediction, she was saying that the BTC price would drop to $10,000 in 2022, although it didn’t quite get there. Now, though, the leader believes the crypto is poised for gains, albeit for slightly different reasons than expected. The professor believes the catalyst will be more domino influx than FTX fallout, which will catalyze what he calls a ‘managed bull market’. She makes the following statement in this context:
In 2023 there will be a managed bull market, not a bubble. Therefore, we will not see prices rise as much as before. We’ll see a month or two of stable trend prices interspersed with range-bound periods and possibly a few short-term crashes.
Alistair Milne sees BTC at around $45k
Bitcoin price forecast by Alistair Milne, CIO of Altana Digital Currency Fund, is also bullish. Its CIO shares this assessment of his foresight:
We should see at least ~$45,000 by the end of 2023. Alternatively, if central banks decide to tolerate a higher inflation target (for example, cut earlier to avoid recession despite 3-4% inflation), stablecoins could be back in vogue.
Also, in a Twitter thread, he says the price should reach $150-300k by the end of 2024. “This is not the time to be bearish,” Milne said. Probably the biggest opportunity for the bulls,” he says.
Eric Wall: Bitcoin price will rise above $30,000
Eric Wall is another person to join the bullish train. In this regard, the leader believes that the crypto will rise above $30,000 at some point in 2023, without giving an exact timeline. He also says that $15.4k is the bottom for BTC.
Standard Chartered: Estimating $5,000 Bitcoin
Not all predictions are in the direction of a better price. Now comes the scary one. According to Standard Chartered, BTC could drop as low as $5,000. “More and more crypto companies and exchanges are facing insufficient liquidity, leading to more bankruptcies and a collapse in investor confidence in digital assets,” the financial institution explains.
“BTC will be between $250,000 and $300,000 between 2024 and 2025”
Popular cryptocurrency analyst Michaël van de Poppe predicts that Bitcoin price could go through a ‘major bull cycle’ between 2024 and 2025, trading between $250,000 and $300,000. The analyst expects BTC to trade sideways in the first quarter of this year before starting a relief rally in the second quarter that could take it to the $30,000-$35,000 mark. It also says it will potentially make a temporary bottom. The analyst’s forecast is based on the fact that interest rate increases will stall until then as inflation falls.
The analyst notes that he “wouldn’t recommend to start selling here,” and tells his followers to “save up.” Similarly, the analyst believes that BTC will make a short-term rally to $17,000 before rising to $30,000 in the second quarter of the year.
There are also utopian predictions for Bitcoin price!
A few analysts are still bullish on BTC and other digital assets. Some estimates, including former Goldman Sachs executive Raoul Pal and an Ark Invest analyst, point to a $1 million price tag in the future.
Meanwhile, Blockware Solutions, a company specializing in Bitcoin mining, has released a research report titled ‘Purchasing Power Under Bitcoin Standard’ stating that if Bitcoin becomes the dominant store of value, its price could reach around $23 million.
A down-to-earth Bitcoin price prediction: $22,000
cryptocoin.com The analyst, nicknamed Kaleo, whose predictions we have given as a coin, says that he is following the stock market closely to see if Bitcoin and other crypto markets can start the new year with a bang. The analyst notes that the S&P 500 (SPX) must take a significant resistance level to start a rally. An upside breakout for SPX could mean bullish for Bitcoin and crypto, according to the analyst. In this context, Kaleo makes the following statement:
I’m still looking for ~3,900 recovery for SPX as a solid long trigger to hit ~4,300 August highs. I expect Bitcoin and the broader crypto market to rally with it.
Taking a closer look at Bitcoin, Kaleo believes that Bitcoin could rise to $22,000 in the next few months. It also suggests that there is a potential upside of over 31% from BTC’s current price of $16,704. In this direction, “What if the bottom levels of 2023 have already arrived?” he asks.
Capo doesn’t believe in fake springs: $12,000
While Kaleo is optimistic about Bitcoin, fellow crypto strategist Capo says that Bitcoin’s recent strength is likely meant to trap buyers before another capitulation event. The analyst explains these views as follows:
It takes a small pump to resist to get everyone back on the rise. The same bull trap is happening throughout 2022. But people don’t learn. $12,000 is very likely.