Finder.com conducted another report, which aimed to forecast bitcoin’s future value with 56 experts from the financial technology and cryptocurrency industry.
Today, January 24, 2023, Bitcoin (BTC) was traded for less than $23,000 per unit. This is the highest price since FTX’s collapse in Nov. 2022. According to the latest BTC predictions report, bitcoin’s price will reach $29,095 in 2019. The leading crypto asset will also be ending 2023 at approximately $26,844 per unit.
The Finder panelists also expect a steep plunge to a low price of $13,067 per unit. Ruadhan O is the founder and creator of Seasonal Tokens. He believes that bitcoin will reach $27,000 per unit due to the concerns surrounding central entities in the crypto industry.
Ruadhan O explained to Finder’s researchers that the price of bitcoin is low due to possible future catastrophes being priced in. “Market sentiment will change by the end of this year and the market will rediscover bitcoin’s scarcity after the fear has gone away.”
The panelists predict that institutional investors will leave the crypto market to invest in other asset classes this year, which is around 21%.
Approximately 65% of Finder’s experts, including Alexander Kuptsikevich (the senior market analyst at Fxpro), believe that bitcoin is too expensive. “The most active cryptocurrency sale-off phase is over. 2023 will see a careful price recovery. Kuptsikevich noted that a true FOMO market will not be created until 2024-2025.
Experts at Finder Predict a Drop in Bitcoin’s Value but See Potential for Long-Term Growth
Finder’s reports that 16% of panelists believe Bitcoin is currently undervalued. However, a majority of 56 panelists believe that bitcoin’s value would rise after the next halving of 2024.
According to the panel, Bitcoin’s value will reach $77,492 by 2025 and bitcoin will be worth $188,451 per unit by 2030. Finance Magnates’ senior analyst Damian Chmiel predicts that bitcoin will reach $70,000 per unit by 2025.
Chmiel insists that two things must happen. The return of Wall Street enthusiasm towards crypto assets and the U.S. Federal Reserve to end its current policy of monetary tightening.
Chmiel explained that the former would not be possible without the latter. We are forced to wait patiently until then. The Finance Magnates senior analyst stated that bitcoin would be a popular option for traders in the long-term.
The predictions for Jan 2022 are a lot more accurate than the latest Finder’s forecasts from the experts. Finder surveyed 33 fintech and crypto specialists last year. The group predicted Bitcoin would finish 2022 at $94,000 per unit. BTC closed the year at $16,544/unit on Dec. 31, 2022.
Before entering 2023, BTC was at $16,544/unit. Finder’s experts met in October 2022 with a new outlook. They predicted that BTC will end 2022 at $21,000 per Unit. It is safe to say that Finder’s crypto- and fintech experts are less optimistic in the crypto winter and current macroeconomic circumstances.