Finance Specialists Set Bitcoin Price For the End of 2023

After a promising start to the year, Bitcoin’s (BTC) price has been the subject of intense discussion among crypto enthusiasts recently. The leading cryptocurrency’s price has fluctuated between $27,000 and $31,000 over the course of the past month. A wide range of experts have been consulted to provide their perspectives on the subject as we approach a pivotal point in the market.

According to a Finder study, 32 experts in fintech and cryptocurrencies were asked to predict BTC’s end-of-year price, indicating that the asset is anticipated to perform well.

The results that were shared with Finbold indicate that experts expect Bitcoin to rise throughout the year, but not nearly as much as its all-time high of more than $69,000. In fact, professionals in finance who were surveyed believe that BTC could reach its all-time high of $35,459 in 2023.

Additionally, the experts surveyed have made some significant predictions regarding the performance of Bitcoin in the future. By 2025, they expect Bitcoin to be worth $99,781 and by 2030, at $297,848—an increase of 29% and 58% from the estimates made by the panelists in January 2023, respectively.

What the specialists say on BTC

According to the results of a recent survey, experts in the field anticipate that the price of Bitcoin will continue to rise in the near to medium term.

The reviewed specialists gauge that Bitcoin’s pinnacle cost in 2023 will average around $42,225, for certain specialists anticipating that it could outperform $50,000. Then again, the most reduced value Bitcoin could hit in 2023 is supposed to average around $17,026, for certain specialists projecting it could fall as low as $15,000 or beneath.

Damian Chmiel, senior analyst and editor at Finance Magnates, is of the opinion that a rise in the price of Bitcoin is highly likely in the near to medium term.

“An increase to $50K seems not a bold prediction but rather just a formality,” Chmiel said. “The recent banking crisis has indeed shown that Bitcoin can be a safe haven in times of uncertainty. The more people and the sooner this is understood, the sooner we will see higher valuations on the BTC chart.”

BTC price analysis

According to information retrieved on May 1, Bitcoin is currently worth $28,605, representing a decline of 2.7 percent for the day and a decline of 4.7 percent for the previous week.

Bitcoin’s all out market capitalization is assessed to be around $554 billion, which is an impression of its proceeded with ubiquity and reception in the monetary market.

Bitcoin currently has a support level of $27,947, which indicates the lowest price it is anticipated to reach in the near future, and a resistance level of $30,153, which indicates the highest price it is anticipated to trade at in the near future.

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