Respondents expect Bitcoin’s price to surge to an average price of more than $87,000 by 2025 and $220,000 by 2030, according to a report published on October 25 by Frank Corva for Finder.
Interestingly, these prices are lower than the ones that resulted from a similar report in July, of around $100,000 and $289,000, respectively.
Notably, the interviewed finance experts forecast BTC at $30,463 by the end of 2023, which would result in losses of 11% from current prices at $34,260 on October 26.
The bullish outlook is driven by factors such as wider institutional adoption, technological advancements, and a growing understanding and recognition of digital assets in the traditional financial sector. Experts cite Bitcoin’s increasing mainstream integration and advancing network technology for their positive forecasts, contributing to its wide adoption and greater market stability.
Bitcoin price predictions for 2023
Among the panel of financial specialists, 14 out of 30 believe the lowest price Bitcoin can reach by the end of 2023 is between $22,500 and $25,000, while 9 out of 30 believe BTC could trade as low as $17,500 until the year-end.
On the other hand, 13 out of 30 respondents don’t believe Bitcoin will be trading above the $30,000 mark as its highest price, while 7 out of 30 see the leading cryptocurrency breaking out and holding from the $35,000 psychological resistance for the rest of this year.
Nevertheless, almost half of the financial experts believe Bitcoin is either trading at a discount (47%) or at its fair value (43%), while only 10% think BTC might be overpriced at the time of publication.
Despite these differing views, the data suggests that the majority of experts are bullish on Bitcoin’s longer-term growth. According to Finder’s study, over three-quarters of respondents believe it is now time to buy Bitcoin.
However, this optimism doesn’t diminish the ongoing concerns around Bitcoin’s structural weaknesses and macroeconomic challenges. Volatility, regulatory uncertainty, economic recessions, and underlying technological issues like scalability are acknowledged barriers that can hamper Bitcoin’s growth trajectory.
“We live in highly unpredictable geopolitical and economic conditions where a recession is still a material risk, forecasting in the current macroeconomic landscape is a challenge, and anyone who pretends otherwise is likely hopelessly overconfident.”— Pav Hundal, lead market analyst at Swyftx
Bitcoin price predictions for 2025
The study underlines that Bitcoin’s future potential is substantial, and the experts are mostly looking toward two relevant events: A spot Bitcoin ETF approval by the SEC and Bitcoin’s block subsidy halving by April 2024. Both events could bring higher prices for BTC, according to Finder’s respondents.
However, not all panelists were as bullish on the halving:
“The effects of Bitcoin’s halvings on the price have gotten weaker over time for two reasons. One is that the supply of new Bitcoins to the market is getting smaller over time in comparison to the existing supply of Bitcoins, causing the influence of mining on the price to weaken. The other reason is that, when the market cap [of Bitcoin] reaches trillions of dollars, it’s a significant fraction of the size of the world economy, limiting the room for further growth.”— Ruadhan O, creator of Seasonal Tokens
Interestingly, 4 out of 5 analysts believe the spot Bitcoin ETF will be approved by the end of 2024. Additionally, 60% agree that this event would make BTC price increase by 2025, while 47% are highly optimistic, foreseeing the leading cryptocurrency to break its current all-time high sooner than by the end of 2025 if this happens.
In conclusion, while the majority of experts believe in Bitcoin’s price escalation towards 2025, the cryptocurrency’s inherent volatility must be remembered. As with all investments, potential investors are advised to do their research and exercise caution.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.