He Bitcoin is over 2022 with a 62% dropcompared to last year. How much will Bitcoin trade in 2023? The predictions of North American experts are completely opposite. Some assure that will drop to $5,000and others that will go up to the $250,000. Who to believe?
The Bitcoin came to reach a record price from around the $65,000 in November 2021. Most of the experts predicted that would easily reach $100,000 in the first months of 2022. Everyone was wrong. Today the Bitcoin quote to some $16,700.
In favor of these experts, it must be said that they could not predict what seemed like a utopia: that Russia invade Ukraine and start a total war that has brought inflation, crises of raw materials and supplies, and has skyrocketing energy prices. Not to mention the fall of FTX.
But now we are in an even more unpredictable situation, with the war at a standstill, and countries like China, Iran or North Korea with stability problems. So perhaps none of what we are going to see now will help, if someone decides to press the nuclear button, or the economic crisis gets out of hand
How much will Bitcoin be worth in 2023?
On the occasion of New Year, the American chain CNBC has asked several financial experts to how much will Bitcoin be worth in 2023and the predictions They couldn’t be more different. Which shows that the cryptocurrency market is completely unpredictable.
The most bullish is the popular venture capital investor Tim Draperwhich ensures that the Bitcoin will begin to rise in the first quarter, and will reach $250,000 in 2023. The explanation he gives is very peculiar:
“My hypothesis is that since women control 80% of retail spending, and only 1 in 7 bitcoin wallets are currently in the hands of women, the dam is about to break.e”, he assures CNBC. He believes that women will start buying Bitcoin in 2023 en masseand the price will rise.
Traper thinks that 2024 will be even better. In that year the “halving“, or halving. It is an event that takes place every four years, in which Bitcoin miner rewards halved.
This, which seems bad, usually means a price rise. The reason is that until now there were a lot of miners, who own a lot of Bitcoin, and when there is a crisis like now, they sell their cryptos, which means a drop in the price. As there are fewer miners, there is less pressure to sell, with which the price improves.
Another optimistic prediction is that of Carol Alexandera finance professor at the University of Sussex, who claims that Bitcoin will reach $50,000 in 2023. He believes that the big whales, who own large numbers, will come to the rescue when things get really bad.
But other experts are less optimistic. Standard Chartered predicts that Bitcoin will fall to $5,000. And it is that the domino effect of the fall of FTX will be deadly: “More and more cryptocurrency companies and exchanges are finding themselves with insufficient liquidity, leading to more bankruptcies and a collapse of investor confidence in digital assets.“.
Mark Mobiusanother famous North American investor, puts Bitcoin price at $10,000:”With high interest rates, the appeal of holding or buying Bitcoin or other cryptocurrencies becomes less attractive, as holding the currency pays no interest.“, he assures CNBC.
The prediction of the price of the Bitcoin in 2023 It is so extreme that it creates even more uncertainty among investors. It only remains to wait, or risk investing. The rest is Russian roulette. Never better said…