Bitcoin, Ethereum may spike 100% by Mid-2023, predicts Crypto Expert

Vinod Dsouza
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The top two cryptocurrencies Bitcoin and Ethereum are yet to see a sharp spike in price and are mostly trading sideways this year. While Bitcoin is down -39.12% from its all-time high of $69,044, Ethereum is down -35.01% from its ATH of $4,878. However, a top executive at Galaxy Digital is bullish on BTC and ETH and predicted that a future bull run will change its fortunes for good. The analyst predicts that BTC and ETH will double in price and go up by +100% before Q2 next year.

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Galaxy Digital’s trading division co-head Jason Urban predicted that BTC and ETH reaching new heights is inevitable. He stated that BTC and ETH might not go parabolic this year but their bull run could begin next year. “If you had asked me at the start of the year. I would have said I see Bitcoin at $100,000 (ETH) $6,500–$7,000 range. Do I think that there are headwinds to that? Potentially. Do I think that it’s going to matter? No,” he said to Kitco News.

Urban continued, “So if it’s not the end of the year, it could be Q1 of next year Q2.”

He stressed that Bitcoin and Ethereum shooting up in price will surely happen before the second half of 2023. “It is going to happen. The sheer number of people that are stepping into this space. I feel is going to just continue to you know push that and the fact that there’s such utility.”

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Will Ethereum Flip Bitcoin?

Bitcoin Ethereum BTC ETH bull run
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The million-dollar question on everyone’s minds is ‘will Ethereum flip Bitcoin’ in the long run? When asked the same to Urban, he said, “I think at some point yes, but is it imminent? No.” He predicted that ETH will not flip BTC anytime soon and might take many more years for the flippening to occur.

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“Do I think it’s something we’re going to see in the next two to three years? That’s probably the soonest, and I could be wrong on that. I don’t think it’s anytime soon,” he said.

In addition, Urban revealed that institutional interest in Ethereum is rising and people are realizing the power of smart contracts. “They start to understand the power of smart contracts [and] layers-1s, that so many brilliant minds can build on, and Ethereum is that.”

At press time, Bitcoin was trading at $42,385 and is down -0.98% in the 24-hours day trade. On the other hand, Ethereum was trading at $3,178 and is down -2.27% in the day’s trade.