Can Bitcoin reach $30,000 this year? That’s what the experts say

The cryptocurrency market recently regained its $1 trillion market capitalization as optimism returns at the start of the new year, prompting investors and financial experts to scramble to see where Bitcoin (BTC) might head by the end of 2023.

In fact, a panel of 56 fintech and cryptocurrency professionals predicted that the bitcoin price would surge in 2023, peaking at $29,095 and then ending the year at $26,844, according to the results of A. discoverer The survey was shared with Coinphony on January 24.

Bitcoin price predictions by the end of the year for the end of 2023, 2025 and 2030. Source: discoverer

What did the experts say?

like seasonal icons Creator Ruadhan O explained:

“The price is low because potential imminent disasters are priced in. By the end of the year, market sentiment will have changed, and after the fear dissipates, the market will rediscover the scarcity of Bitcoin.”

Moreover, the panel, which also included Alexander Kuptsikevich, chief market analyst at online trading broker FxPro, believes that BTC will rise to $77,492 by the end of 2025 and $188,451 in 2030.

According to Kuptsikevich:

“The phase of the most active cryptocurrency sales is over. 2023 will be a year of cautious price recovery. However, the real FOMO market is unlikely to arrive until 2024-2025.”

On the other hand, university lecturer John Hawkins was bearish, expecting BTC to end the year at $10,000, as he felt that it had no useful role as an asset after it was “used as a payment tool, a safe haven, an inflation hedge and a diversification asset.”

Buy bitcoin now?

However, 50% of the Finder panel believe it is time to buy Bitcoin, compared to 37% who suggested holding, and 13% who recommended selling the leading decentralized financial asset (DeFi).

The committee’s opinions on buying, selling or owning BTC. Source: discoverer

It is also worth noting that a fifth (21%) of respondents stated that institutional investors will pull out of the cryptocurrency market for other asset classes this year due to the recent market crash and the collapse of FTX. However, the vast majority of committee members (75%) disagree.

Bitcoin price analysis

Meanwhile, Bitcoin has seen significant gains since the start of the year, surging 36.62% from $16,550 on January 1 to $22,610 at press time. Its current price is also down 1.35% per day, but still up 6.87% for the week and 34.25% for the previous 30 days.

Bitcoin price chart year-to-date. Source: quinphone

At the same time, the market capitalization of bitcoin reached $ 436.42 billion, by this indicator surpassing all the world’s leading traditional financial companies, including JPMorgan Chase (NYSE: JPM) and Bank of America (NYSE: BAC), as previously reported by Coinphony.

Warning: The content of this website should not be considered as investment advice. Speculative investments. When you invest, your capital is at risk.

Post Can Bitcoin Reach $30,000 This Year? Here’s What the Experts Said appeared first on Coinphony.

Leave a Reply

Your email address will not be published. Required fields are marked *