Interesting predictions regarding the value of the price of Bitcoin (BTC) for 2023 and beyond. The prestigious crypto, according to expert estimates, is expected to rise to $29,095 before closing the year at $26,844, according to Finder‘s latest Bitcoin Price Predictions report.
For this purpose Finder interviewed fifty-six fintech and cryptocurrency specialists, including FxPro senior market analyst Alexander Kuptsikevich, UC Berkeley faculty member Shuo Chen, and Finance Magnates senior analyst and editor Damian Chmiel. Let’s see what they had to say about the future price of Bitcoin.
The price predictions of Bitcoin (BTC) according to Finder: 2023, 2025, 2030
The panel made by Finder’s experts believes Bitcoin (BTC) will be worth $26,844 by the end of 2023, before rising to $77,492 by 2025.
Finder also analyzes the experts’ predictions every quarter, and in particular, the latest survey was conducted in January 2023, in which the panel mentioned earlier tries to describe how Bitcoin (BTC) will perform in the next decade.
As anticipated, BTC is expected to close 2023 at $26,844, according to the average forecast provided by Finder’s group of fintech specialists. These specialists also predict that BTC will reach $77,492 by 2025 and $188,451 by 2030.
Alexander Kuptsikevich, senior market analyst at brokerage platform FxPro, says the following:
“2023 will be a year of careful price recovery. A true FOMO market is unlikely until 2024-2025.”
Even Shubham Munde, senior research analyst for Market Research Future, believes Bitcoin’s price will recover throughout 2023 and expects it to reach around $35,000 by the end of the year.
Market Research Future estimates:
“The market will see a significant boost in 2024 thanks to growing adoption and positive regulation.”
Ruadhan O, creator and founder of Seasonal Tokens, echoes Shubham’s sentiment and believes that by the end of the year, market sentiment will have changed: after the fear is gone, the market will rediscover the scarcity of Bitcoin.
Josh Fraser, co-founder of Origin Protocol, regarding Bitcoin’s price instead argues:
“It will take a while to get back to all-time highs. Ultimately, Bitcoin is unavoidable, and adoption at a level similar to gold would price the asset at around US$500,000.”
Focus on the price prediction of Bitcoin (BTC) in 2023
As for 2023, the average maximum price that Finder speakers believe Bitcoin will reach is $29,095, with some saying it will exceed $40,000. The lowest average price, on the other hand, is $13,067, with some saying it will fall below $10,000.
There are yet others who believe that Bitcoin’s price will remain suppressed in a range well below its all-time high. Specifically, Vetle Lunde, senior analyst at Arcane Crypto, said:
“BTC will be predominantly rangebound through most of 2023. Rising cost of living and a challenging economic environment reduce investors’ ability to allocate capital to BTC.”
Jeremy Cheah, associate professor of decentralized finance at Nottingham Trent University, concurs with Lunde’s sentiment about the difficult economic situation in which many find themselves, saying:
“As the world’s economies languish and lack consumer protections, most cryptocurrency prices won’t improve dramatically.”
However, Atte-Ville Pentikäinen, an OTC trader at CoinMotion, believes the consensus about a recession in 2023 is wrong and will actually get a real bearish market bounce among risk assets during this year.
In terms of buying, selling, or holding BTC, however, many of the Finder panelists believe that the price of BTC has already seen or come very close to the lows of this cycle.
Therefore, 50% of panelists believe that now is a good time to buy BTC and 37% believe it is a good time to hold the asset. Only 13% of panelists believe that now is a good time to sell BTC. In fact, Daniel Polotsky, founder and president of CoinFlip, said:
“It looks like we could be close to the bottom of Bitcoin and cryptocurrencies. Bitcoin will emerge from the ashes of the ruins as it always has in the past, and now could be a good time to feast on the plunge.”
Fraser Matthews, president of NetCoins, has a similar perspective to Polotsky’s:
“I believe the current price of Bitcoin is a good entry point for investors and I expect it to continue higher over the long term.”
And Damian Chmiel, senior analyst and publisher of Finance Magnates, goes along with Matthews’ thoughts on Bitcoin’s long-term value:
“In the long run, I believe Bitcoin will become a popular choice among traders. Right now, we have an excellent opportunity to stockpile it at attractive prices.”
Robert Johnson, a professor at Creighton University’s Heider College of Business, thinks now is a good time to sell BTC, as he believes there is a lack of use cases for Bitcoin.
Bitcoin: is it currently overpriced, undervalued or fair?
Most Finder panelists also commented on whether Bitcoin is currently selling at a discount. In fact, 64.71% believe that Bitcoin is currently undervalued.
One in five of them (19.61%), believe Bitcoin is currently priced fairly, while 16% (15.69%) believe Bitcoin is currently overpriced. Ben Ritchie, managing director of Digital Capital Management AU, said in this regard:
“It appears that Bitcoin is currently undervalued based on on-chain metrics. However, there are several challenges currently facing the Bitcoin mining industry, exchange platforms, and the aftermath of the FTX implosion that may contribute to a decline in valuation.”
Martin Froehler, CEO of Morpher, agrees with Ritchie that problems regarding Bitcoin’s mining industry continue to have a negative impact on Bitcoin’s price, although he sees a light at the end of the tunnel:
“We are already in the capitulation phase of the miners of this bear market, which usually ends the recession.”
Ben Waterman, co-founder of Strabo, on the other hand, believes Bitcoin’s price is low because of the markets’ overreaction to the FTX collapse, Binance‘s problems, and Coinbase‘s layoffs:
“Trust in digital assets is incredibly low. Historically, this suggests an overreaction to negative events.”