Crypto Pundits’ Expectations from Bitcoin In 2023

Soon after the commencing of 2023, and even before the commencement, crypto pundits started to send off their Bitcoin price predictions. Some of the predictions belong to well-reputed and known figures from the industry.

Most of the predictions are bearish with a few exceptions. Here is what Bitcoin pundits expect from Bitcoin in 2023.

Tim Draper’s Over-Exaggerated Forecast of Bitcoin’s Value

At the top is globally famed billionaire and Bitcoin supporter, Tim Draper, whose hopes for Bitcoin are always on the higher side.

Draper believes that Bitcoin’s price either in 2023 or in 2024 would go as high as $250,000, preferably after the next Bitcoin halve. He is expecting the next half to occur in the year 2024.

In an email communication, Draper told CNBC that his hopes for Bitcoin haven’t fallen apart. Instead, he believes Bitcoin is moving in the direction where its value would soon become $250k, and ‘that’s going to happen in 2023’.

He also told CNBC that women command over 80% of retail spending and their adoption of Bitcoin will exponentially increase Bitcoin’s value.

$50K Bitcoin Value Prediction of Carol Alexander

Another Bitcoin future price forecast was noted by CNBC whose prediction belonged to Prof. Carol Alexander of Sussex University.

Alexander’s Bitcoin prediction was however not as ‘over-exaggerated’ as that of Draper. Instead, the Professor predicted in Bitcoin may reach a price threshold of $50,000 which is likely to happen in 2023.

Professor Alexander further suggested that her Bitcoin prediction would not be coming true either at the beginning or in mid of 2023. She opined that $50,000 may happen either at the end of Q3 or the beginning of Q4.

CNBC also noted that Alexander is hoping for 2023 to proceed with a bullish sentiment and that 2023’s bulls would be manageable. She opined that the bullish market conditions would be boosted by huge BTC whales.

Erik Voorhees Limits His BTC Prediction to $40K

ShapeShift exchange’s founder, Erik Voorhees, also made his prediction of Bitcoin’s price in 2023 in an interview with Bankless. He predicted that Bitcoin is due to hit the value of $40K which is likely to be achieved by mid of 2023.

Voorhees’s prediction is not as bullish as that of Draper or Professor Alexander. However, he is expecting an over 150% hike in Bitcoin’s present market value.

However, when Bankless asked Voorhees to give his comment on whether 2023 would be bullish or not, he wasn’t sure about it.

Instead, he suggested that it is likely that the market would become bullish after June 2023. However, the major and prolonged bullish push is expected after three to four years, suggested Voorhees.

As per him, the market sentiments have been dragged too much into the dark in the running year. Therefore, it is going to take a while before the investors regain their confidence and trust in crypto.

They will have to feel safe about the cryptocurrencies before they can think about entering the crypto-verse.

Until that happens, the cryptocurrency industry would live in the dark and the same situation would be with Bitcoin.

Mark Mobius Restricts BTC Prediction at $10K

It seemed that Mark Mobius entirely deviated from the over-exaggerated BTC predictions and instead restricted his prediction to $10,000.

While talking to CNBC, Mobius opined that Bitcoin may not be able to go beyond the $10K value in 2023.

He also said that even if Bitcoin would go beyond $10K, however, it would fall below that level. He suggested that $10,000 is going to be Bitcoin’s crucial resistance level in 2023.

Mobius backed his prediction on the basis of macroeconomic conditions, particularly the rising interest rates by US Federal Reserve.

He further claimed that since Bitcoin does not offer any interest to investors, hence, investors would not be interested in it. They would preferably be investing in assets that can guarantee them an interest in holding the assets.