- Last month, Bitcoin (BTC) experienced a significant price increase due to increasing optimism about the potential approval of a spot Bitcoin exchange-traded fund (ETF).
- According to the results shared with COINOTAG by Finder, market experts expect the value of the world’s largest cryptocurrency to increase in the coming months and reach $38,488 by the end of the year.
- Technologist and futurist Joe Raczynski believes that BTC will be slightly higher than the panel’s average level at the end of the year, at $40,000, and will benefit from increased institutional interest.
In a panel consisting of 29 financial experts, experts expressed their comments on Bitcoin and revealed their price predictions.
Financial Experts Make Price Predictions for Bitcoin
Last month, Bitcoin (BTC) experienced a significant price increase due to increasing optimism about the potential approval of a spot Bitcoin exchange-traded fund (ETF). This development was seen as a potential catalyst for wider institutional adoption of cryptocurrencies.
However, the leading cryptocurrency, which reached a peak above $31,400 earlier this month, has since experienced a significant decline and is currently hovering just above $29,000.
To provide more information on potential price movements for Bitcoin for the rest of the year, 29 financial experts were consulted to present their year-end price predictions for BTC.
According to the results shared with COINOTAG by Finder, market experts expect the value of the world’s largest cryptocurrency to increase in the coming months and reach $38,488 by the end of the year, which represents a potential increase of over 30% compared to its current price. At the same time, experts believe that Bitcoin’s possible peak in 2023 will be around $42,000.
Looking further ahead, the panel of financial experts predicts that Bitcoin will reach an average price of $100,000 by the end of 2025 and over $280,000 by the end of 2030.
Experts’ Comments on BTC Price
The year-end Bitcoin price target was determined through a comprehensive analysis of predictions provided by leading financial professionals. The predictions varied based on bullish market expectations reflecting different perspectives on the potential performance of the cryptocurrency.
For example, technologist and futurist Joe Raczynski believes that BTC will be slightly higher than the panel’s average level at the end of the year, at $40,000, and will benefit from increased institutional interest. Joe Raczynski said:
“We have now emerged from the darkness of the crypto winter. Many top financial institutions have applied for a Bitcoin ETF, and it requires approval from the SEC, and if that happens, tens of billions of dollars will flow into Bitcoin this year.”
Similarly, Alex Nagorskii from DigitalX believes that the best-case scenario for Bitcoin by the end of 2023 is $35,000, followed by a climb to $65,000 by the end of 2025. Alex Nagorskii said:
“Bitcoin is about to enter the halving year and will be supported by potential flows from approved US spot ETFs. There are many ways this situation can play out, and it will largely depend on SEC approval of spot ETFs, several high-profile exchange cases, and the identification of any bad actors in the space.”
Overall, the majority of panelists (59%) have a bullish outlook for BTC and believe that entering the market during this period could be a good time, while 33% and 7% recommend holding and selling the cryptocurrency, respectively.
