Financial experts set the Bitcoin price for the end of 2023
Bitcoin’s (BTC) price has been the subject of intense discussion among crypto enthusiasts recently, with the leading cryptocurrency fluctuating between $27,000 and $31,000 in the past month, following a promising start to the year. As we approach a critical time in the market, a number of experts have been consulted to provide their insights on the matter.
32 fintech and crypto experts were asked to give their year-end predictions for BTC, suggesting that the asset is expected to perform positively according to a Finds study.
According to the results shared with Finbold, the experts suggest that Bitcoin is set to rise as the year progresses, although it will not come close to its all-time high of over $69,000. Indeed, the financial experts surveyed believe that BTC may peak in 2023 at $35,459.
In addition, the surveyed specialists have made some remarkable predictions regarding Bitcoin’s future performance. They predict that Bitcoin will reach $99,781 by 2025 and $297,848 by 2030, representing an increase of 29% and 58%, respectively, from the estimates made by the panelists in January 2023.
What the experts say on BTC
According to the findings of a recent survey, industry experts predict that Bitcoin’s price will continue to rise in the short to medium term.
The surveyed panelists estimate that Bitcoin’s peak price in 2023 will average around $42,225, with some experts estimating that it could exceed $50,000. On the other hand, the lowest price Bitcoin could hit in 2023 is expected to average around $17,026, with some panelists estimating that it could drop as low as $15,000 or below.
Finance Magnate’s senior analyst and editor, Damian Chmiel, the expert’s prevailing sentiment is that a higher Bitcoin price is highly likely in the short to medium term.
“An increase to $50,000 does not seem like a bold prediction, but rather just a formality,” Chmiel said. “The recent banking crisis has indeed shown that Bitcoin can be a safe haven in times of uncertainty. The more people and the sooner this is understood, the sooner we will see higher valuations on the BTC chart.”
Ben Ritchie, Director of Digital Capital Management AU, said:
“Bitcoin’s value could fall to $12,000, while the upside could reach up to $48,000 depending on market reactions to the government’s response to current global challenges.”
BTC Price Analysis
Per data retrieved on May 1st, Bitcoin is currently trading at $28,605, indicating a 2.3% price drop for the day and a 4.7% decline over the past week.
Bitcoin’s total market capitalization is estimated to be around $554 billion, which is a reflection of its continued popularity and adoption in the financial market.
In terms of current price levels, Bitcoin has a support level of $27,947, which means that this is the lowest price level it is expected to reach in the near term, and a resistance level of $30,153, which represents the highest level where the cryptocurrency is expected to trade in the near future.
Disclaimer: The content of this page should not be considered investment advice. Investment is speculative. When you invest, your capital is at risk.
