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There is little agreement among Bitcoin\u2019s commentators over the last few weeks, with crypto execs, research analysts and billionaire investors offering wildly different takes on what’s in store for Bitcoin for the year ahead.\u00a0<\/p>\n
One crypto exchange founder expects Bitcoin (BTC<\/a>) to spike to $40,000 by the summer, while a Bitcoin billionaire has renewed his bullish $250,000 BTC price prediction for the year. <\/p>\n Erik Voorhees<\/a>, founder and CEO of cryptocurrency exchange ShapeShift, was optimistic about a potential recovery of Bitcoin\u2019s price during an interview<\/a> with Bankless on Jan. 2, stating he \u201cwouldn\u2019t be surprised\u201d if Bitcoin (BTC<\/a>) hit \u201clike $40K\u201d by the \u201csummer.\u201d<\/p>\n Voorhees noted that if his prediction were to come true that would be \u201c2.5X\u201d from its current price of $16,666, which he said is a \u201cgreat return.\u201d<\/p>\n The crypto executive couldn\u2019t pinpoint the timing of the next bull run, only saying it would come sometime within the next \u201csix months to three years.\u201d <\/p>\n He shut down the idea that it could take as much as \u201c10 years,\u201d however, arguing that if that happened it would mean the whole \u201cthing […] probably failed.\u201d<\/p>\n Looking ahead, Voorhees said that the macro environment, interest rates and the tightening of monetary conditions are big factors in how the crypto market will play out this year. <\/p>\n He also acknowledged that the reputation of crypto from outsiders is \u201cjust trash\u201d but those commentators will also be the ones to be \u201cblindsided\u201d when the next rally happens.<\/p>\n Voorhees said that whether we are in a bull or bear market, we are \u201cin the middle of a revolution right now.\u201d<\/p>\n Meanwhile, Bitcoin billionaire investor Tim Draper has continued to knuckle down on his $250,000 Bitcoin prediction<\/a> via his most recent Twitter post on Jan. 1, showing he even has it printed on a T-shirt.<\/p>\n See t-shirt. $250k by 2022. My prediction was off by a bit. Hasn\u2019t made it there\u2026yet. Certainly before the halvening. #truebelievers<\/a> #bitcoin<\/a> #worldoftrust<\/a> #freedom<\/a> #hodl<\/a> pic.twitter.com\/jMLi8rraj8<\/a><\/p>\n \u2014 Tim Draper (@TimDraper) December 31, 2022<\/a><\/p><\/blockquote>\n Draper first made the bold $250,000 Bitcoin price prediction during a speech at his own Draper University in San Mateo in April 2018.<\/p>\n At the time, he said he was looking into what he described as a \u201ccrystal ball,\u201d saying he was \u201cthinking\u201d of $250,000 for a Bitcoin by 2022.<\/p>\n Draped said people would perceive those that believe in the prediction as \u201ccrazy,\u201d but reassured his audience it would happen and be \u201cawesome.\u201d<\/p>\n In his most recent tweet, Draper conceded that his \u201c$250K by 2022\u201d prediction was \u201coff by a bit\u201d but said he believes it \u201ccertainly\u201d will happen before the Bitcoin halving, which is set for April 2024 according to Coinmarketcap<\/a>.<\/p>\n His bullish prediction was however met with varied comments on Twitter, with one user tweeting<\/a> that they had \u201clost interest\u201d in the price of Bitcoin since Celsius stole the \u201cone Bitcoin\u201d they had, another<\/a> tweeted \u201cyou have high hopes,\u201d while another predicted<\/a> that it is \u201cunlikely\u201d to even go \u201cabove $30K in 2023.\u201d<\/p>\n Draper\u2019s comments could be seen as particularly bullish even among Bitcoin supporters. <\/p>\n In September, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone \u2014 who has been optimistic about the future of Bitcoin<\/a> in the past \u2014 tapped the crypto to only reach $100,000 by 2025.<\/p>\n He’s made that prediction once before, during an interview in October 2020 where he said Bitcoin is \u201con track\u201d to hit \u201c$100,000 by 2025.\u201d A year later, he\u00a0stood<\/a> by that prediction in an interview with Kitco News, saying it\u2019s only a \u201cmatter of time\u201d to get to \u201c$100,000.\u201d <\/p>\n He saidthe reason for this is that supply is still \u201cgoing down,\u201d while adoption and demand are \u201cstill increasing.\u201d<\/p>\n In December, United Kingdom-based banking firm Standard Chartered predicted Bitcoin could drop to as low as $5,000 in 2023 as one of the possible “financial-market surprises” of the year.<\/p>\n According to a\u00a0 Dec. 5 report<\/a> from CNBC, rising yields and a plunge in tech stocks could lead to an acceleration of a Bitcoin sell-off, causing further bankruptcies and collapses in crypto and a collapse in investor confidence in digital assets.<\/p>\n However, the author of the investor note, Eric Robertsen \u2014 the firm’s global head of research \u2014 noted that this was an extreme prediction that fell outside its own baseline views and outside of market consensus.<\/p>\n Related:<\/em><\/strong> <\/em><\/strong><\/strong>Bitcoin Jack: “I try to think more about when than where” for price<\/em><\/strong><\/a><\/p>\n While some crypto industry figures have been confident enough to share their Bitcoin forecasts for the years ahead, others have been more reserved in sharing their thoughts on the subject.<\/p>\n Co-founder and managing partner of digital asset management platform Nexo, Antoni Trenchev, recently explained to Cointelegraph that there are \u201cmany factors\u201d that can influence the price of Bitcoin.<\/a><\/p>\n Alex McCurry, CEO and co-founder of blockchain solution provider Solidify.io, told Cointelegraph on Jan. 3 that \u201cBitcoin is a completely unpredictable asset.\u201d<\/p>\n The uthor of the best-selling book Rich Dad, Poor Dad,<\/em>\u00a0Robert Kiyosaki, hasn’t made any price predictions in recent months either, despite frequently posting about Bitcoin on his Twitter page.\u00a0<\/p>\n In December, Kiyosaki said he was investing in Bitcoin and is “very excited” about it due to it being classified as a commodity much like gold, silver and oil, unlike other crypto tokens which he said have been classified as securities.<\/p>\n Q: Are you investing in Bitcoin? \u2014 Robert Kiyosaki (@theRealKiyosaki) December 31, 2022<\/a><\/p><\/blockquote>\n<\/div>\nErik Voorhees \u2014 $40,000 by the \u201csummer\u201d<\/h3>\n
Tim Draper \u2014 $250,000 by April 2024<\/h3>\n
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Mike McGlone \u2014 $100,000 by 2025<\/h3>\n
Standard Chartered \u2014 $5,000 in 2023<\/h3>\n
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A: Yes I am. I am very excited about Bitcoin. Why? Because Bitcoin is classified as a commodity much like gold, silver, and oil. Most crypto tokens are classifed as a security and SEC regulations will crush most of them. I am buying more BC<\/p>\n