Huge $3 Trillion Bitcoin Price Prediction Comes With Strong 2023 Warning
BitcoinBTC has surged into 2023, adding nearly 40% since the start of the year (despite growing fears of a “catastrophic global financial meltdown”).
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The price of Bitcoin has climbed to heights not seen since late August, erasing losses in the wake of the shock FTX cryptocurrency exchange collapse – although “contagion” may be about to hit other major crypto companies.
Now, a panel of crypto experts has predicted that the bitcoin price will rise to nearly $200,000 per bitcoin by 2030 (giving bitcoin a total market cap of just over $3 trillion), but not before falling sharply again in 2023.
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“Unless there are more sudden surprises like FTX, it [bitcoin and crypto] the market is now undergoing a cleanup of scammers, flawed exchanges and companies,” said Desmond Marshall, CEO of venture capital firm Rouge International, as part of a bitcoin price prediction report compiled by price comparison website Finder.
Marshall pointed to bitcoin’s next supply cut, known as a halving and due in just over a year, as potentially giving the bitcoin price “stronger support in the second half of 2023.”
The 44-person panel returned an average bitcoin price prediction of just under $30,000 per bitcoin at the 2023 peak, with the price then falling back to the end of the year at around $27,000. Looking further ahead, the bitcoin price is predicted to rise to $77,000 in 2025 before shooting to $188,000 in 2030.
“The market will see [a] significant lift [in] 2024 due to increasing adoption and positive regulation,” said Shubham Munde, senior analyst for Market Research Future.
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The Bitcoin price has fluctuated wildly in recent years, rocketing to unprecedented highs in 2021 before falling steadily through 2022.
However, not all members of the Finder panel are bullish on the bitcoin price. University of Canberra senior lecturer John Hawkins has warned that the bitcoin price will crash to just $10,000 this year before falling to $5,000 in 2025 and $500 in 2030.
“In the short term, several of the crypto companies that are shedding employees and limiting withdrawals, and no longer have FTX to bail them out, will fail, putting downward pressure on the bitcoin price,” Hawkins said.
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