Bitcoin Price Predictions for 2023: Short and Long-Term Outlook
The price of Bitcoin has been a hot topic among cryptocurrency enthusiasts lately, with fluctuations between $27,000 and $31,000 in the past month.
Experts have shared their insights as we approach a crucial point in the market.
In a recent Finder study, 32 fintech and crypto professionals were asked for their end-of-year price predictions for BTC. They anticipate that Bitcoin will rise as the year progresses, although it won’t come close to its all-time high. According to these finance professionals, BTC could peak at $35,459 in 2023.
In addition, these specialists have projected that Bitcoin’s future performance will be notable. They estimate that Bitcoin will reach $99,781 by 2025 and $297,848 by 2030. These predictions represent a 29% and 58% increase, respectively, from the estimates made in January 2023.
Based on a survey conducted with industry experts, it is anticipated that Bitcoin’s value will continue to increase in the short to medium term.
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The survey estimates that the average peak price of Bitcoin in 2023 will be approximately $42,225, with some predicting it may exceed $50,000. Conversely, the lowest projected value for Bitcoin in 2023 is estimated to be about $17,026, with some speculating it could dip to $15,000.
Finance experts suggest that a higher Bitcoin value is probable in the short to midterm. Ben Ritchie, Director of Digital Capital Management AU, forecasts that the value of Bitcoin may drop to $12,000 but could also rise up to $48,000 depending on the market’s reaction to the government’s response to current global challenges.
At the time of writing Bitcoin is trading at $28,125, reflecting a 1.8% decrease in value for the day and a 2.5% increase over the past week. Its overall market capitalization is estimated to be approximately $554 billion.
Bitcoin has a support level of $27,947, the minimum anticipated price level in the short term, and a resistance level of $30,153, representing the highest anticipated price level for the cryptocurrency in the near future.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
