Huge $600B 2023 Bitcoin Price Prediction Comes with an Ethereum Upgrade Play and a Shocking XRP Warning
Bitcoin
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The bitcoin price has crashed by around 70% since hitting an all-time high of nearly $70,000 per bitcoin late last year, while ethereum has seen a similar decline. Ripple’s XRP
Now, as leaks reveal that crypto bosses are bracing for a $65 billion earthquake, a fund manager at investment giant VanEck has predicted that the bitcoin price could rise to around $30,000 per bitcoin next year – potentially doubling bitcoin’s current market cap to $600 billion – and predicted ethereum and Ripple’s XRP developments.
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Bitcoin price could almost double next year, according to a bullish bitcoin price prediction … [+]
“Bitcoin will test $10,000-$12,000 in [the first quarter of 2023] amid a wave of miner bankruptcies, which will mark the low point of the crypto winter,” wrote Matthew Sigel, head of digital asset research at VanEck, while others fear the bitcoin price could crash to even lower levels next year.
However, the bitcoin price is then predicted to rebound as “lower inflation, ease of energy concerns, a possible ceasefire in Ukraine and a turnaround in M2 supply” will start a fresh bull market.
“Should our recession expectations materialize, the Federal Reserve is likely to hold off on interest rate hikes while softening inflation while money printing and government budget deficits continue,” Sigel wrote. “Just a lack of bad crypto-specific news, under the above scenario, could cause the price of bitcoin to climb a wall of worry back to $30,000 again.”
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Bitcoin prices have crashed over the past year, but some believe a 2023 rally could be on the cards … [+]
Elsewhere, Sigel’s 2023 bitcoin price prediction includes Ripple losing lawsuit against its XRP by SEC and ethereum
The price of Ripple’s XRP has climbed this year after the long-running SEC lawsuit dragged on. Ripple was sued by the SEC for allegedly misleading XRP investors in early 2021, but expectations have risen recently that Ripple will come out on top.
Sigel pointed to the SEC’s victory over blockchain-based publishing company LBRY in November as evidence that the judge will side with the regulator.
“With this case as a precedent, we have significantly reduced the likelihood of a Ripple victory,” Sigel wrote.
