Bitcoin price predictions for 2023: rally to $250,000 or crash to $5,000

[midian182]

Forward-looking: To say 2022 was a rough time for crypto is an understatement. Following a long period of rising prices and delighted investors, last year saw the arrival of a crypto winter that brought Bitcoin's price crashing down, bankrupted companies, and wiped over $1 trillion off the market, and that's not even mentioning the collapse of FTX. But what will 2023 bring? Analysts' predictions vary wildly, from Bitcoin almost quadrupling its previous record high and reaching $250,000, to the digital coin crashing to $5,000, which would be its lowest price since 2019.

Bitcoin started 2022 at close to $48,000. That's down from its highest-ever price of almost $68,000 a few months earlier, but it was still welcome news for those who invested a few years prior when BTC was under $10,000.

However, the last 12 months have been some of crypto's worst. The collapse of stablecoin TerraUSD and its support coin Luna crushed the industry in May. It led to huge crypto businesses such as Celsius going bankrupt and the market dipping below $1 trillion as the price of Bitcoin and other digital assets crashed. Then came the FTX controversy, which has seen the arrest of founder Sam Bankman-Fried and lawsuits against celebrities who promoted the company in TV ads.

Bitcoin has been hovering between $16,000 and $17,000 since mid-December. But how will the world's most popular crypto fare in 2023? CNBC round up some predictions from analysts, investors, and others within the industry.

Bitcoin's price over the last five years. Will it go up or down in 2023?

The most optimistic call comes from billionaire venture capitalist Tim Draper. He believes Bitcoin will rally 1,400% to end the year worth $250,000. "My assumption is that since women control 80% of retail spending, and only 1 in 7 bitcoin wallets are currently held by women that the dam is about to break," Draper told CNBC. He expects things to get even better in 2024 when the halving—an event that occurs every four years in which the reward for Bitcoin mining is cut in half—takes place.

On the opposite end of the scale is Standard Chartered's global head of research, Eric Robertsen, who believes Bitcoin's fall will continue to $5,000 next year, a drop of about 70% from its current price. Veteran investor Mark Mobius has a similarly pessimistic outlook, believing BTC will drop to $10,000 in 2023.

Carol Alexander, a professor of finance at Sussex University, has better news for holders. She believes BTC will reach $30,000 in the first quarter, climbing to $50,000 in quarters three or four, thanks to whales who hold large amounts of Bitcoin stepping in to help the market.

Ultimately, of course, accurately predicting Bitcoin's future price is impossible. Whether the market recovers or plunges even further in 2023 is anyone's guess.

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https://www.techspot.com/news/97132-bitcoin-price-predictions-2023-rally-250000-or-crash.html

 

[Vanderlinde]

Ah here comes the media buzzing again. Jump in everyone. Its going to 250k at the end of the year.

And by doing so your actually making the ones who are in now, quite more rich.

 

[PEnnn]

A quarter of a million?? LOL!!

The bitcoin scam pushers are hard at work looking for new gullible suckers, scouring tech sites and even the villages of rubes

Pump and dump perfected by Miserable Muskie is the new normal.

 

[silversea]

Here's my prediction, by the end of 2023 Bitcoin will be right around $1,000.00 more or less but not by much either way that's my prediction I could be wrong, if I had it my way it would gone period end of story.

 

[winjer]

Get more fools to buy into this scam, so those inside can run away with the money.

 

[m4a4]

Considering it's treated as another investment, where are all the speculations on how good the economy is doing? If the economy is supposed to recover and inflation starts to fix itself, it'll go up. But if people continue to hurt for cash, it's not going to move much without big news tied to it.

 

[m3tavision]

The days of micro trading bitcoin will end. The little fishes will not buy into a scams anymore. Will keep their stuff on hand, not in an exchange..

 

[CapNemo72]

So, if you invest 10'000USD now, by the end of next year you can either have:

- pessimist prediction: 6'100USD (you lost 3900)
- (very) optimistic prediction: 152' 690 USD ( a gain of 142K, not bad at all, you might be able to buy that new shiny RTX 5090 Ti LC Exxxtreme edition

My prediction, it will be probably lower at the end of the year, as it is simply not used anymore as it was used like before, and outside of pure speculation, it actually has very little value to common people.

 

[Dr Roboto]

Bitcoin is dead. The bubble has popped. The idea that it will transform currency has proven false. You need a stable price for currency to work. Something that went from $4,000 to $69,000 in less than a year is never going to work. It is just a pure speculative asset owned by several whales.

IMO, it is headed to $10,000 in the near term (spring time) and most likely back to COVID lows ($4000) in the long term (end of 2023). It will probably hang there because some people just won't give up on it. Probably a few really good bounces along the way if you are willing to risk it to make some money, but the crypto winter is here for a while until someone comes up with a way to make it actually useful.

 

[Kashim]

The people who own large amounts of bitcoin all predict the price will go through the roof. Shocker!

Bitcoin is dead. The bubble has popped.

Bitcoin is not dead and probably won't be for a very long time. This is because too many "whales" are unwilling to cut their losses and will keep propping up its price. It will probably keep going up and down, each time hitting a lower bottom.

 

[sorten]

My wish for 2023, which I can guarantee won't come true, is for the crypto, Musk, and Twitter topics to fade away from internet sites.

“Strong minds discuss ideas, average minds discuss events, weak minds discuss people.”

― Socrates?

 

[VitalyT]

I remember trading BTC at around 8K, just before that last major bull market started. It was triggered by money coming from everywhere. Now that we are in recession, and crypto has lost all its credibility, there won't be any such money coming in anymore, and the previous climb is now just a history.

Historically, January is always bearish, so it is safe to say that BTC will take another plunge, likely after hitting the high of 17k - 18.5k in the interim.

 

[Rq3EWAq]

My prediction: Bitcoin price will be either up or down.

 

[kiwigraeme]

The price is interesting for small timers.
But the whales have a problem - how to pump price and offload volumes ( ie cash out ).

Ie except for washing buy sell buy sell - how much volume is there ?

I imagine whales - pump up - upload enough to not spook market - rebuy less cheaply - start over.

Ie if everyone wants to sell it's worth nothing.
The fundamental problem is not enough volume buyers

Hey I sold my pidgey pokemon card for $1000 to my brother - so I have 1000 more - I'm a millionaire

 

[Dimitrios]

People are getting greedier by the day. Everyone wants to be an overnight millionaire. Some will go far lengths if it means screwing over their family, friends, neighbors or country.

Good luck everybody.

 

[Lounds]

Crypto dudes don't understand fiat currency and central banks and the way world money actually works. Did they really think the world banking elite would let DeFi crypto take over their control of the world? The bank's will no doubt launch digital versions of their own currencies in the next 5 years, the Bank of England already announced their plans last year.

 

[Jrfeimst2]

What a joke. We are in a global recession that’s going to get even worse next year. No one with half a brain is going to invest in Bitcoin. People should invest into other things in a couple of months when stocks take a huge plunge even more so than they already have. Things won’t turn around till 2024 if we are lucky.

 

[Kashim]

What people keep ignoring is the fact that crypto is backed by nothing. Stocks for example are backed by products, services, etc. When the value of Apple or Google goes up it's because they sold a bunch of stuff and made a profit. There is no such thing for crypto.

If one group of crypto "investors" make a huge profit that means another group must lose a huge amount of money. The only way to make money from crypto is to hope a bunch of other rubes sink their money into it so you can cash out and leave someone else holding the flaming bag of feces that is crypto.

Once enough people get burned by crypto (like the millions who lost all their money in the FTX, BlockFi, Celsius, Mt. Gox, etc. collapses) there may not be enough new rubes willing to put their money into crypto. What will the "whales" and crypto manipulators do then?

 

[MyIOnU]

It will crash and also IRS will go after people that own bitcoins as well.

 

[Puiu]

Bitcoin will continue to drop for a while. Not sure how big the rebound will be.

 

[JamesBlond]

Prediction
Top : $158000
Bottom : $12300

 

[BuckarooBonzaii]

The whales will feed again and not sure what other new regulations may be imposed in 2023.

 

[Eldritch]

Why stop at $2,50,000? Each Bitcoin will be worth $9,99,99,99,99,99,99,999 next year as people will realize what an awesome investment it truly is. Invest NOW!

 

[Srksi]

Donnt thing bitcoin will raise until this crisis calms down

 

[Vanderlinde]

It will crash and also IRS will go after people that own bitcoins as well.

That is only when you would push it through an exchange, which is by law forced to keep track of it's customers.