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Led by Bitcoin (BTC), Ethereum (ETH), and top cryptocurrencies, the crypto market posted gains in the past two weeks with BTC soaring past $22,000 per coin. However, product comparison web portal finder.com’s panel of crypto experts says that Bitcoin still has room to grow and its price could still go above $29,000 this year.
In a recent Finder.com report, the site’s panel of 56 fintech and crypto experts made its prediction about the future price of Bitcoin. The panel’s average prediction for the highest price of BTC this year is $29,095. However, the panel also believes that Bitcoin would retreat from this peak and would be priced at roughly $26,844 per coin by the end of this year, according to Bitcoin.com.
The panel made predictions for the future price of Bitcoin by the end of 2023, 2025, and 2030. Most believe that BTC would be in recovery mode for the most part in 2023.
“2023 will be a year of careful price recovery,” says FxPro senior market analyst Alexander Kuptsikevich, according to the report. “A real FOMO market is unlikely to come until 2024–2025.”
This view is shared by Market Research Future senior research analyst Shubham Munde, who expects the crypto to reach around $35,000 by the end of 2023. “The market will see [a] significant boost [in] 2024 owing to rising adoption and positive regulation,” he opined.
While the price of Bitcoin is on the rise, Origin Protocol co-founder Josh Fraser, said that it will still take some time for the crypto to recover to its all-time high at almost$69,000 per coin. However, he also believes that BTC has the potential to rise even higher and could soar up to $500,000 once it reaches a certain level of adoption.
“It will take us a while to climb back to all-time highs,” Josh Fraser said. “At the end of the day, Bitcoin is inevitable, and adoption at a similar level to gold would bring the asset to a price ~US$500,000.”
However, not everyone in the panel shares such optimism. In fact, the average lowest price prediction for Bitcoin in 2023 is US$13,067. Some even believe that it could go lower than US$10,000.
Despite this pessimistic outlook by some members, the majority of the panel members believe in crypto’s longevity. “93% of them believe that crypto will still be here in 10 years,” the report noted. ”Only 5% were unsure and 2% feel that cryptocurrency won’t exist in 10 years.”
