This year has been a tough sail for Bitcoin since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of BTC.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Bitcoin to reclaim its all-time high in 2023? Continue with the article to learn about Bitcoin price analysis and prediction by Coinpaper.
Read also: Did Bitcoin Bottom Already?
What is Bitcoin?
Bitcoin is a digital currency that was created in 2009. It uses cryptography to secure and verify transactions, as well as to control the creation of new units of the currency. A "Bitcoin token" refers to a unit of the Bitcoin currency, which can be used to pay for goods and services or can be traded for other currencies. The value of a Bitcoin token is determined by supply and demand on Bitcoin exchanges, and it has fluctuated greatly since its creation.
Bitcoin (BTC) price
Currently, Bitcoin Price is USD. BTC has a circulating supply of coins and a total supply of . If you are looking to buy or sell Bitcoin, Binance is currently the most active exchange.
|Fully Diluted Valuation|
Bitcoin price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Bitcoin 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Bitcoin price at $10000 to $20000. On the flip side, a fading interest in the new meme coin may push the price of Bitcoin to $5000-$3000 lows.
Bitcoin price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Bitcoin (BTC) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Bitcoin to climb as high as $30000, with the more distant prospect of reaching $50000 in 2024. The bearish scenario is likely to see Bitcoin (BTC) trading between $10000 and $20000 in 2024.
Bitcoin price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Bitcoin (BTC) price analysis and prediction is based on pure speculation and observation of Bitcoin historical price movements.
Our Bitcoin 2025 price forecast expects BTC to rally towards $90000 and reach $130000 by the end of the year. The bearish scenario would see Bitcoin at $30000 to $50000.
Bitcoin (BTC) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Bitcoin is neutral. In 2026, we expect Bitcoin to reach at least $150000 before climbing higher to $200000. In case of a bearish scenario, Bitcoin may fall to $30000.
Is Bitcoin (BTC) a good investment?
It is difficult to say whether Bitcoin is a good investment or not, as its value can be highly volatile and is influenced by a variety of factors. Some people see it as a good investment opportunity because of its potential for high returns, while others are wary of its lack of regulation and potential for security risks. As with any investment, it is important to do thorough research and to carefully consider the potential risks and rewards before deciding whether to invest in Bitcoin. It may be helpful to consult with a financial advisor before making any investment decisions.
Are you ready to invest in Bitcoin? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy BTC from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
Who created Bitcoin?
Bitcoin was created by an unknown person or group of people using the name Satoshi Nakamoto
What was the all-time high for Bitcoin (BTC) ?
The all-time high price of Bitcoin is $ on 2021-11-10