2023 is here, and with that comes an influx of predictions regarding the price of Bitcoin during the year. The past 12 months have been particularly devastating for the cryptocurrency, which lost upwards of 70% of its dollar value.
That said, many seem to be quite optimistic about the short-term future of BTC. Here are four great and one not-so-much predictions for 2023.
Tim Draper Says BTC to $250K
Tim Draper is perhaps one of the most outspoken and prominent Bitcoin permabulls. As such, it comes to no surprise that he maintains his optimistic stance and considers that it’s possible for the price to reach $250 by the end of the year.
This would require a rally of around 1400%.
Draper is also quite positive about the 2024 halving, thinking that it will have a great impact on the prices.
Carol Alexander: $50K in 2023
Another one with a positive prediction is the professor of finance at Sussex University – Carol Alexander. She was getting somewhat close in his previous call that the price of BTC would slip to $10K in 2022, even though it didn’t quite get there.
Now, though, she believes that the cryptocurrency is primed for gains, albeit for slightly different reasons than one might expect.
The professor believes that the catalyst would be the influx of more dominos from the FTX fallout rolling over that would catalyze what she refers to as a “managed bull market.”
There will be a managed bull market in 2023, not a bubble – so we won’t see the price overshooting as before. […] We’ll see a month or two of stable trending prices interspersed with range-bound periods and probably a couple of short-lived crashes.”
Alistair Milne Sees BTC at Approx. $45K
Another one that gave multiple predictions, including for the price of Bitcoin, is the CIO of Altana Digital Currency Fund – Alistair Milne.
We should see at least ~$45k by end of 2023 (which you might discount due to the damage done). alternatively if central banks decide to tollerate a higher inflation target (eg cut earlier to avoid recession despite 3-4% inflation), hard assets may become en vogue again. – He said.
In a Twitter thread, he also said that the price should reach $150-300K by the end of 2024, arguing that “this is no time to be bearish and is likely peak opportunity for the bulls.”
He said that he is all in once again (excluding capital he expects to use for other things during the next two or three years.)
I had a decent track record for predictions until 2022. A combination of macro influence and full-retard actions has forced #Bitcoin to break most models and completely detatch from fundamentals
So let’s try again…
— Alistair Milne (@alistairmilne) December 30, 2022
Eric Wall Thinks BTC Will Pump Above $30K
Another one to join the bullish train is Eric Wall, who believes that the cryptocurrency will pump above $30K at some point during 2023 without giving an exact timeline.
He also said that $15.4k was the bottom for BTC.
Interestingly, Wall also laid down a string of other predictions. He believes that Sam Bankman-Fried will go to prison for more than 10 years, which implies that the lawsuits against him and his companies will be over by then. SBF was released on a $250M bail in December.
In addition, he believes that Ethereum will enable withdrawals for the staked ETH – something that Crypto Potato discussed in a recent podcast with ConsenSys PM Matt Nelson.
Standard Chartered: Bitcoin at $5K
All of the above were the better predictions, as promised in the title. Here comes the terrible one.
According to Standard Chartered, BTC may sink as low as $5K. The financial institution put forth its thoughts back in December, saying:
More and more crypto firms and exchanges find themselves with insufficient liquidity, leading to further bankruptcies and a collapse in investor confidence in digital assets.