As you’re probably aware, everyone and their brother has been making Bitcoin price predictions lately. While this can sometimes be annoying because no one really knows what the future price will be, it’s also refreshing to see so much interest in Bitcoin. And as the saying goes, there’s no such thing as bad press.
So, let’s look a little deeper into some of the recent 2023 Bitcoin price predictions.
In this highly scientific process, I Googled ‘Bitcoin price prediction 2023’ and then compiled the top 5 search results and came up with an average high price.
- In a very recent article dated July 5th, 2023, Changelly makes all kinds of juicy predictions. The first and most important is the price, and Changelly says Bitcoin will reach a maximum price of $40,617 and a minimum price of $35,137 in 2023. Other predictions include a $35k Bitcoin by August 3, 2023 (muy bien). They don’t provide much analysis behind their predictions, but another statistic they offer is that the market sentiment is currently 79% bullish.
- In an article updated on June 17th, 2023, Techopedia offers up a bearish price prediction. They say that Bitcoin will only reach $25,175 by the end of December 2023. However, this doesn’t match the main chart at the beginning of the article which gives a price of $31,000 by the end of 2023 (both are included in the average). Their main reasoning is that interest rates remain high which will continue to push investors into bonds.
- Next up is an article from Forbes dated June 20, 2023. This article frames price predictions in a different fashion, asking “Can Bitcoin Reach $100,000 by 2023?” They go on to quote prices from the Gemini CSO and the Tether CTO. The Gemini rep says Bitcoin could reach $100k if it sees $69k prior to 2023 ending. The Tether CTO says Bitcoin could retest $69k. Forbes lists several financial factors such as the “dollar weakening, cooling inflation data, pause in rate hike in the U.S., optimism from BlackRock’s ETF filing and safe haven flows” as the main reasons for Bitcoins’ recent recovery.
- Fourth in the lineup comes from Finbold News and is dated June 30th, 2023. Their prediction model for the end of 2023 is based on an AI model from CoinCodex. This machine-learning algorithm set the price of Bitcoin at $38,183 on December 31, 2023. This would mean Bitcoin would appreciate by roughly 23% from today’s prices. It’s not clear which factors went into the AI prediction model.
- Lastly, an article from AMB Crypto says that Bitcoin could reach a high of $43,000 and a low of $28,666 by the end of 2023. This article doesn’t have a date on it, but it’s current because it offers short-term price predictions on a weekly basis for the rest of July and then on a monthly basis for the rest of 2023. If you’re a long-term holder well into the 2030’s, take a look at their long-term price predictions. By 2034, they say Bitcoin will be worth $548,227. Dam, the future can’t get here soon enough.
So if we average out the maximum price predictions, we’re left with an average high price for Bitcoin of $49,567 by the end of 2023. Not too shabby!
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