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It's been a challenging year for crypto investors.
There was the recent implosion of FTX, an exchange previously thought of as relatively trustworthy and run by one of the most prominent figures in the crypto industry. Earlier in 2022, there was the bankruptcy of crypto lender Voyager and the collapse of TerraUSD, a "stablecoin." (A stablecoin is a cryptocurrency with a price pegged to another asset like the U.S. dollar).
In addition to an erosion of trust in crypto, there have been price losses mirroring the stock market's amid high inflation and interest rate hikes.
Bitcoin was trading at $16,607 on Thursday — down 65% from the beginning of the year. It’s no wonder that roughly half of bitcoin investors would lose money if they sold now, according to data from analytics firm IntoTheBlock.
This comes after bitcoin and other cryptocurrencies like ether exploded in popularity in 2021.
So what’s in store for the price of the largest cryptocurrency in 2023? Here’s what experts are saying.
Will bitcoin's price keep dropping in 2023?
Amid the chaos in the early days of the collapse of the exchange FTX, Mobius Capital Partners co-founder Mark Mobius told Bloomberg that he expected bitcoin to fall to $10,000 per coin. He noted that while “crypto is here to stay,” he would not invest any of his client’s money or his own money in bitcoin because it is “too dangerous.”
Mobius later elaborated on his forecast in an interview with CNBC, attributing the anticipated losses to rising interest rates and increasing investor worries surrounding the crypto market. He said that while he expects bitcoin's price to hover around $17,000, it could fall to $10,000 next year.
Matthew Sigel, head of digital assets research at investment firm VanEck, is looking ahead to a similar price target. He predicts that the cryptocurrency will fall to between $10,000 and $12,000 per coin in the first quarter of next year.
Sigel cites struggling crypto miners as the reason for the decline: “With Bitcoin mining largely unprofitable given recent higher electricity prices and lower Bitcoin prices, we predict that many miners will restructure or merge,” he wrote this month.
But crypto prices are still unpredictable
It's worth remembering that cryptocurrency is one of the most volatile assets out there. Prices swing wildly, and not every expert takes the same view.
Morningstar senior research analyst Madeline Hume says the unpredictable nature of digital assets makes it difficult to know when prices will stop falling.
“Bitcoin, and crypto in general, faces the double whammy of a crypto winter already in full swing and a challenging macroeconomic climate on the horizon," Hume says. "Although crypto has already fallen a lot since its peak in November 2021, the absence of fundamental valuations for these assets means that we won’t know where the bottom is until we’re past it, and there’s no indication of a thaw yet.”
Sigel’s forecast improves in the second half of the year. As inflation eases, energy prices stabilize and the crisis in Ukraine (potentially) winds down, Sigel predicts bitcoin prices could climb back up to $30,000 in the third and fourth quarters of 2023.
Some analysts have predicted that bitcoin could drop as low as $5,000 over the next year, while others have said prices will climb to $250,000. Experts from Ark Investment Management, which is headed up by famed investor Cathie Wood, is standing by its prediction that one bitcoin will be worth more than $1 million by 2030.
“So is crypto done?" Sigel writes. "Not by a longshot.”
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FAQs
Bitcoin Price Prediction December 2024
The next 15 days are expected to be heavily bullish where the price may not only rise above $80,000 but hit $85,000. By the end of the year, the BTC price is believed to remain at $85,000.
What is the prediction for Bitcoin for next years? ›
Our most recent Bitcoin price forecast indicates that its value will increase by 16.28% and reach $69,388 by August 06, 2024. Our technical indicators signal about the Bearish Bullish 31% market sentiment on Bitcoin, while the Fear & Greed Index is displaying a score of 34 (Fear).
How much will $1 Bitcoin be worth in 2025? ›
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2024 | $ 54,285.77 |
| 2025 | $ 57,000.06 |
| 2026 | $ 59,850.06 |
| 2027 | $ 62,842.56 |
1 more rowWe predict that Bitcoin will hold an average price of $60,000 in 2024, thanks to the Halving event, and settle more in 2025 with an average of $65,000. In 2026, we see Bitcoin trading as high as $90,000 by the end of the year. By 2030, we predict that Bitcoin could reach a high of $160,000.
How much will 1 Bitcoin be worth in 2030? ›
Ark Invest founder and CEO Cathie Wood has even taken it a step further, predicting the token will reach $1.5 million by 2030.
Which coin will reach $1 in 2024? ›
Conclusion. In the dynamic landscape of cryptocurrency, these ten coins, including TRON, Shiba Inu, Astar, Kaspa, Dogecoin, Stellar, Kava, Polygon, Cronos, and VeChain, present diverse potentials for reaching the $1 milestone in 2024.
Should I buy Bitcoin or Ethereum? ›
Buying either crypto requires a high risk tolerance. Looking at past performance, it's difficult to choose a winner between Bitcoin and Ether because their relative returns fluctuate depending on the time frame. In the past year, Bitcoin prices are up 157% compared to a 100% gain for Ether.
How much will Bitcoin be worth in the next 10 years? ›
Because Bitcoin is so powerful and has so much potential, Bitcoin's projected value and estimated growth could be astronomical. Speculation from crypto analysts and industry experts suggests that Bitcoin's long term value could reach over $100,000 to as much as one million dollars per BTC in the future.
How much will Bitcoin be worth in 2040? ›
Based on our long-term Bitcoin Coin price forecast, we anticipated that prices could reach a new all-time high this year. By 2040, the maximum price of the BTC Coin is projected to be around $5,69,240.60. Our average price forecast for Bitcoin is $5,57,632.74 in 2040.
Which coin will reach $1 in 2025? ›
By the time 2025 rolls around, Ripple tokens should be worth at least $1 each, revisiting a price level last seen in the fall of 2011.
So, who are the top holders of BTC? According to the Bitcoin research and analysis firm River Intelligence, Satoshi Nakamoto, the anonymous creator behind Bitcoin, is listed as the top BTC holder as of 2024. The company notes that Satoshi Nakamoto holds about 1.1m BTC tokens in about 22,000 different addresses.
Is it smart to invest in Bitcoin? ›
There are several risks associated with investing in cryptocurrency: loss of capital, government regulations, fraud and hacks. Loss of capital. Mark Hastings, partner at Quillon Law, warns that investors must tread carefully in crypto's unique financial environment or risk significant losses.
Which coin is best to invest in? ›
Top 10 Cryptos of 2024
| Coin | Market Capitalization | Current Price |
|---|
| Bitcoin (BTC) | $1.2 trillion | $64,814 |
| Ethereum (ETH) | $380 billion | $3160 |
| Binance Coin (BNB) | $83 billion | $573 |
| Solana (SOL) | $76 billion | $164 |
6 more rowsThakral believes that Bitcoin reaching $100,000 in 2024 is more feasible now than ever before due to several key factors. The approval of the spot Bitcoin ETF has spurred significant interest from institutional investors, fundamentally transforming the crypto investment landscape in favor of Bitcoin.
Will Bitcoin hit 1 million? ›
Bitcoin could be headed for the stratosphere, according to a new report by Bernstein. The global investment firm is predicting that the world's top digital asset could hit $200,000 by 2025, $500,000 by 2029 and—no, you're not seeing things—$1 million per token by 2033.
What is the prediction for Bitcoin cash in 2024? ›
In August 2024, Bitcoin Cash price is predicted to trade between $475 and $500. Continuing the massive rally that began in late May, BCH price is poised to benefit from a moderately bullish overall crypto market outlook. Technical indicators suggest consolidation above recent support levels, with resistance near $500.
Why is Bitcoin dropping in June 2024? ›
Digital assets slumped in June as trading volumes and volatility followed seasonal patterns and fell to year-to-date lows. The German and U.S. governments moved long-dormant bitcoin (about $500M) onto crypto exchanges, presumably for sale, ahead of a likely distribution of Mt.
What is the future of Bitcoin in 2025? ›
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 63,535.83 |
| 2026 | $ 66,712.62 |
| 2027 | $ 70,048.25 |
| 2030 | $ 81,089.61 |
1 more rowOur most recent Ethereum price forecast indicates that its value will increase by 3.21% and reach $2,961.27 by August 06, 2024.
