Bitcoin’s price is expected to rise in 2023, but crypto and fintech experts picked by product comparison web portal finder.com don’t believe the leading digital asset will break above the $30,000 range this year. Finder’s panel of 56 specialists have come together to give their bitcoin price predictions for 2023, and the panelists suggest that bitcoin will peak at $29,095 this year.
Experts Weigh in on the Future Price of Bitcoin: Will It Hit Six-Figure Prices by 2030?
Finder.com has made another report that aims to predict the future price of bitcoin with 56 experts from the cryptocurrency and fintech industry. Today, January 24, 2023, bitcoin (BTC) is trading for just under $23,000 per unit, and that’s the highest price since FTX collapsed in November 2022. The latest report A BTC forecast published by finder.com indicates that the consensus Bitcoin will peak at $29,095 this year. However, the leading crypto asset is also expected to close in 2023 at around $26,844 per unit.
Additionally, Finder panelists expect a deep drop to a low of $13,067 per unit. Ruadhan O, the creator and founder of Seasonal Tokens, believes bitcoin will peak at $27,000 per unit due to concerns surrounding centralized entities within the crypto industry. “The price is low because possible impending disasters are taken into account,” Ruadhan O told Finder researchers. “By the end of the year, the market sentiment will have changed, and once the fear passes, the market will rediscover the scarcity of bitcoin.”
Around 21% of panelists expect institutional investors to exit the crypto market for different asset classes this year. Around 65% of Finder experts, including Fxpro senior market analyst Alexander Kuptsikevich, believe bitcoin is undervalued. “The most active cryptocurrency selling phase is over. 2023 will be a year of cautious price recovery. However, a real FOMO market is unlikely to come before 2024-2025,” Kuptsikevich remarked.
Finder Experts Predict Lower Bitcoin Value, But See Long-Term Growth Potential
Finder’s says that 16% of panelists believe BTC is currently overvalued, but a large majority of the 56 panelists believe bitcoin’s value will be much higher after the next halving in 2024. The panel currently predicts that BTC’s value will reach $77,492 in 2025, and by 2030 bitcoin will be in the six-figure zone at $188,451 per coin. Damian Chmiel, principal analyst and editor at Finance Magnates, predicts that bitcoin will cost around $70,000 per unit in 2025.
Chmiel, however, insists that two things need to happen: the return of Wall Street’s enthusiasm for crypto assets and the US Federal Reserve halting the current monetary tightening policy. “The first won’t happen without the second, and we have to wait patiently for now,” Chmiel detailed. “Long term, however, I believe bitcoin will become a popular choice among traders,” added Finance Magnates senior analyst.
Finder’s latest forecast from the gathered experts is very different from the January 2022 forecast. Around this time last year, Finder surveyed 33 crypto and fintech experts and the group predicted that BTC will would end in 2022 at $94,000 per unit. On December 31, 2022, BTC ended the year at $16,544 per unit before entering 2023. Finder experts met in October 2022, with a brand new outlook that predicted BTC would end 2022 at $21,000 per unit. It’s safe to say that Finder’s crypto and fintech specialists are much less bullish during the crypto winter and current macro conditions.
You can check out Finder’s bitcoin price prediction report in full here.
What do you think of the experts’ predictions on the future price of bitcoin? Do you agree or disagree with the projected maximum and minimum prices for 2023 and beyond? Share your thoughts and opinions in the comments below.
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