Multiple predictions have been made for Bitcoin’s price in 2023. Many analysts remain bullish on BTC, while others remain practically bearish. Both voices cannot be ignored as they’re the sole essence of how the markets operate. In this article, we will highlight the top 3 price predictions for Bitcoin in 2023.
1. BTC Will Crash to $11,000
Hex founder and crypto tycoon Richard Heart exclusively revealed to Watcher Guru that BTC will crash to $11,000 in 2023. According to Heart, BTC falling below $11K is not a matter of ‘how’ but a matter of ‘when’.
“Bitcoin will continue to fall down to $11,000 as long as the grayscale discount to NAV exists. It’s the normal 85% price dip Bitcoin does. Mt GOX coins being released is more potential sell pressure,” he said to Watcher Guru.
Surprisingly, Heart has been right about most of his previous predictions and a handful of crypto investors called him the time traveler.
2. BTC to $50,000
Carol Alexander, a professor of finance at Sussex University predicted to CNBC that Bitcoin would touch $50,000 in 2023. As per Carol’s predictions made last year, BTC will be on the back foot in Q1 and Q2 and turn bullish in Q3 and Q4.
The professor predicts that large whales and institutions could pick up BTC at its low point in Q2, sending it to $50K in the leading months.
“We’ll see a month or two of stable trending prices interspersed with range-bounded periods. And probably a couple of short-lived crashes,” she predicted.
3. BTC to $5,000 in 2023
Standard Chartered published a scorched earth report last year predicting that Bitcoin will crash to $5,000 in 2023. The report points out that leading stocks could tumble this year which would eventually drag BTC into the abyss.
“More and more crypto firms and exchanges find themselves with insufficient liquidity. Leading to further bankruptcies and a collapse in investor confidence in digital assets,” said Eric Robertsen, Standard Chartered’s research head.
4. Bonus Prediction: Peter Schiff
Gold and commodity trader Peter Schiff is consistent with delivering doomsday BTC price predictions. The veteran analyst has predicted that Bitcoin could go below $5,000 in 2023. He also predicted that the leading crypto will go to $0 someday.
However, BTC has an extremely slim chance of falling to $0 and Schiff’s prediction might never come true. Read here to know an in-depth study conducted by researchers on whether BTC can crash to $0.