Are you excited to learn about bitcoin price prediction for 2023? If yes, check out this post today!

The bitcoin price is very volatile; you may not know what will happen the next day. But here we will see the bitcoin price prediction 2023 based on the expert views and the factors that move the bitcoin price.

Key Points

• Bitcoin price fell around 60% in 2022.
• All the price predictions of 2022 missed the real price. 
• Some market participants have taken a risk by making price predictions for what could be another volatile year.

2022: A Rough Year for Crypto

Source: forbes.com

The year 2022 was like a nightmare for bitcoin investors. The year has seen more than $1.3 trillion being wiped off the market. A wave of industry collapses, including those of the stablecoin project terraUSD and the cryptocurrency exchange FTX, and the deteriorating macroeconomic environment caught investors off guard. 

When we are talking about 2022, not only Bitcoin but the entire cryptocurrency market has seen a very bad phase. By the end of 2022, the cryptocurrency market had reached $795 billion and began the year with a market capitalization of $2.2 trillion. So, a decline of around 64% in the cryptocurrency market. Let’s see bitcoin prediction 2023.

2023: What’s Ahead for Bitcoin?

Source: postsen.com

Currently, interest rates are rising worldwide, which is a risk for stocks and bitcoin. The investors have also kept their eye on the – FTX saga, the arrest of the company’s founder Sam Bankman – fried in the Bahamas. 

When talking about bitcoin prices, one thing is for sure – 2023 will be a very volatile year. 

Bitcoin Price Predictions for 2023

Source: watcher.guru

Let’s see the bitcoin price predictions 2023 by experts and well-known agencies. 

Standard Chartered: $5000

The Standard Chartered Bitcoin Price Forecasts For 2023 are very negative. It believes that in 2023, we can see the bitcoin price at $5000. If Standard Chartered’s prediction becomes true, it will be a 70% cut from the current bitcoin price. 

Eric Robertsen, the global head of research in the bank, says, “More & more cryptocurrency firms and exchanges find themselves with insufficient liquidity, leading to further bankruptcies and a collapse in investor confidence in digital assets.” 

Carol Alexander: $50,000

Now, here you can see the totally opposite prediction compared to Standard Chartered. 

Carol Alexander is a professor at Sussex University. She predicted that in 2022 the price of bitcoin will go up to $10,000. But now, after a big fall, she believes that the price of bitcoin will move upward. 

As per Carol Alexander, the bitcoin price will make a top in the first quarter at $30,000, and then it will go to $50,000 by the third or fourth quarter.  

Tim Draper: $250,000

Tim Draper is a bitcoin bull, and he believes that bitcoin in 2023 will reach $250,000 by the end of this year. 

If we believe the prediction comes true, it requires a rise of 1400% from the current levels. 

Draper suggests there may be a reason to believe the market has reached a bottom despite the low prices and low trading volumes.

Basically, the bull is very bullish on bitcoin for 2023. 

Mark Mobius: $10,000

In mid-2022, Mark Mobius was very successful in his bitcoin price prediction. At the time when bitcoin was trading at $28,000, he made a forecast that it would go below $20,000, and it became true. 

In 2023, he predicts that the bitcoin price will go down to $10,000. The reason why he believes such downside in the price of bitcoin is – the rising interest rates and strict monetary policy from the U.S Federal Reserve. 

Also Read: ChatGPT-3: All You Need to Know About OpenAI Chatbot (Updated)

How Should Investors Approach Bitcoin Investing in 2023?

Source: zipmex.com

When you invest in any asset class, the chances of your success will increase if you stay invested for a longer time. So, stick to it; however, consult an expert before you plan any investment decision. 

Final Thoughts

At last, we would say that the price of bitcoin is very volatile and can move any side wildly. Thus, you should be very careful if you are a crypto investor. Experts have given you the bitcoin price forecast, which may help you make your investment decision. However, when dealing with cryptocurrency, you need to be careful. Rest, let’s hope for the best in 2023!

For more information regarding the latest technology, follow Techconcord.