📌Four Great and One Terrible Bitcoin Price Predictions for 2023

Here are four optimistic and one doom-and-gloom predictions for Bitcoin’s price in 2023.
2023 is here, and with that comes an influx of predictions regarding the price of Bitcoin during the year. The past 12 months have been particularly devastating for the cryptocurrency, which lost upwards of 70% of its dollar value.

That said, many seem to be quite optimistic about the short-term future of BTC. Here are four great and one not-so-much predictions for 2023.

📌Tim Draper Says BTC to $250K

Tim Draper is perhaps one of the most outspoken and prominent Bitcoin permabulls. As such, it comes to no surprise that he maintains his optimistic stance and considers that it’s possible for the price to reach $250 by the end of the year.
This would require a rally of around 1400%.

Draper is also quite positive about the 2024 halving, thinking that it will have a great impact on the prices.

📌Carol Alexander: $50K in 2023

Another one with a positive prediction is the professor of finance at Sussex University – Carol Alexander. She was getting somewhat close in his previous call that the price of BTC would slip to $10K in 2022, even though it didn’t quite get there.

Now, though, she believes that the cryptocurrency is primed for gains, albeit for slightly different reasons than one might expect.

The professor believes that the catalyst would be the influx of more dominos from the FTX fallout rolling over that would catalyze what she refers to as a “managed bull market.”

📌Alistair Milne Sees BTC at Approx. $45K

Another one that gave multiple predictions, including for the price of Bitcoin, is the CIO of Altana Digital Currency Fund – Alistair Milne.
In a Twitter thread, he also said that the price should reach $150-300K by the end of 2024, arguing that “this is no time to be bearish and is likely peak opportunity for the bulls.”

He said that he is all in once again (excluding capital he expects to use for other things during the next two or three years.

Bitcoin Price Reclaims $17K But Final Capitulation May Not Be In Yet: Analysis

✔️ Bitcoin could be nowhere near finding a bottom yet, said a CryptoQuant analyst.

Bitcoin’s price is already down by over 75% since its peak in November 2021, and there’re multiple reports claiming that the bottom is in.

However, a popular analyst warned that we could be in the middle of the bear market and hinted that there might be more pain around the corner.

✔️ The Worst Is Yet to Come?
While analyzing the current bitcoin landscape and focusing on the Stock to Flow ratio, the strategist (Gigi Sulivan) opposed some of the claims that BTC’s price might have already bottomed. Recall previous such assumptions based on miner capitulation, strong holder behavior, and long-term supply reaching a new all-time high.

However, Sulivan believes bitcoin could be heading into the S2F green zone (picture below) if its price gets to $20,000 – $22,000, which could trigger another imminent sell-off. He added that such an increase could come later this week if the US CPI numbers are better than the overall estimations.He also warned that 2023 could be worse for bitcoin depending on the macroeconomic environment and whether the US and other countries enter into long recessions.

The analyst predicted back in March 2022, when BTC’s price was still well above $40,000, that it could drop all the way down below $16,700, basing his gloomy but correct forecast on the same S2F ratio.

✔️Fear and Greed Doesn’t Move
The index, which calculates the overall sentiment toward BTC from different data such as surveys, volatility, and social media comments, doesn’t paint a bright picture either.

It generally moves depending on bitcoin’s price swings from 0 (extreme fear) to 100 (extreme greed). Given the state of the market for the past year or so, it’s no surprise that it hasn’t been in the latter for a long time.

However, it has dipped into extreme fear territory quite regularly and is there now as well, even though the cryptocurrency spiked overnight and charted a monthly high above $17,000. This only goes to show that such minor price increases are not fooling the community yet, and there’s still a long way to go before the overall perspective changes.