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The price of bitcoin is set to rise in 2023, but crypto and fintech experts chosen by the product comparison web portal finder.com do not believe the leading digital asset will break the $30,000 range this year. Finder’s panel of 56 specialists convened to give their 2023 bitcoin price forecast, and the panelists suggest bitcoin will peak at $29,095 this year.
Experts Weigh in on Bitcoin’s Future Price: Will it Reach Six-Digit Prices by 2030?
Finder.com has conducted another report that aims to predict bitcoin’s future price with 56 experts stemming from the cryptocurrency and financial technology industry. Today, on Jan. 24, 2023, bitcoin (BTC) is exchanging hands for just under $23,000 per unit, and it’s the highest price since FTX collapsed in Nov. 2022. The latest BTC predictions report published by finder.com indicates that the consensus is bitcoin will peak at $29,095 this year. However, the leading crypto asset is also predicted to end 2023 at roughly $26,844 per unit.
Furthermore, the Finder’s panelists expect a deep plunge down to a low of $13,067 per unit. Ruadhan O, the creator and founder of Seasonal Tokens, believes bitcoin will peak at $27,000 per unit because of the worries surrounding centralized entities within the crypto industry. “The price is low because possible imminent catastrophes are being priced in,” Ruadhan O told Finder’s researchers. “By the end of the year, market sentiment will have changed, and after the fear goes away, the market will rediscover the scarcity of bitcoin.”
Around 21% of the panelists expect institutional investors to leave the crypto market for different asset classes this year. Roughly 65% of Finder’s experts, including Alexander Kuptsikevich, the senior market analyst at Fxpro, believe bitcoin is underpriced. “The phase of the most active cryptocurrency sell-off is over. 2023 will be a year of careful price recovery. However, a real FOMO market is unlikely to come until 2024-2025,” Kuptsikevich remarked.
Finder’s Experts Predict Dip in Bitcoin’s Value, But See Potential for Long-Term Growth
Finder’s says 16% of the panelists believe BTC is currently overvalued, but a large majority of the 56 panelists believe bitcoin’s value will be much higher after the next halving in 2024. The panel currently predicts BTC’s value will rise to $77,492 in 2025, and by 2030, bitcoin will be in the six-digit zone at $188,451 per coin. Damian Chmiel, the senior analyst and editor at Finance Magnates, predicts bitcoin will be around $70,000 per unit in 2025.
Chmiel insists, however, that two things need to happen: the return of Wall Street excitement toward crypto assets and the U.S. Federal Reserve discontinuing the current monetary tightening policy. “The former will not happen without the latter, and we are left to wait patiently for now,” Chmiel detailed. “In the long term, however, I believe bitcoin will become a popular choice among traders,” the Finance Magnates senior analyst added.
The latest Finder’s forecast from the experts gathered is a whole lot different than the predictions from Jan. 2022. Last year, around this same time, Finder surveyed 33 crypto and fintech specialists and the group predicted BTC would end 2022 at $94,000 per unit. On Dec. 31, 2022, BTC ended the year at $16,544 per unit before entering 2023. Finder’s experts did convene in Oct. 2022, with a whole new outlook that predicted BTC would end 2022 at $21,000 per unit. It’s safe to say, Finder’s crypto and fintech specialists are a lot less optimistic during the crypto winter and the current macroeconomic conditions.
You can check out Finder’s bitcoin price prediction report in its entirety here.
What do you think about the experts’ predictions for bitcoin’s future price? Do you agree or disagree with the forecasted peak and low prices for 2023 and beyond? Share your thoughts and opinions in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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