Bitcoin (BTC), the leading crypto asset by market cap, has captured considerable attention within the realm of digital currencies, demonstrating robustness and a pronounced market dominance. As it currently stands, its value hovers slightly beneath the $34,000 mark. The latest bitcoin price prediction report from finder.com sheds light on anticipated future developments, as construed by industry specialists.
31 Fintech and Crypto Experts Forecast Bitcoin’s Future Prices
The report, entitled “Bitcoin to Hit $87,000 by 2025,” offers an in-depth exploration of bitcoin’s potential price trajectories, synthesizing perspectives from 31 experts and panelists within the sector. Within the context of the report, panelists deliberate on the prospect of a spot bitcoin exchange-traded fund (ETF) receiving approval. A substantial 47% of these experts express the belief that such an endorsement could catapult bitcoin to unprecedented highs. Furthermore, approximately 60% of participants anticipate the approval of a spot bitcoin ETF by 2024.
The consensus among the surveyed individuals suggests that BTC’s value will conclude 2023 at $30,000 per unit, eventually surpassing its all-time high of $69,000 and achieving a value of $87,000 by 2025. Mitesh Shah, the founder of Omnia Markets, projects that BTC will end the year at $35,000, and by 2025, its value will escalate to $105,000. Shah represents the 20% of surveyed individuals who anticipate an ETF’s approval within the current year. “There is a growing consensus that the SEC will eventually approve a bitcoin ETF, with Blackrock’s application being the most likely candidate,” Shah commented.
The CEO of Omnia further added:
The approval of any bitcoin ETF would open the floodgates for institutional investment, and the announcement of such approval would likely result in an immediate spike in bitcoin’s price.
The impending 2024 BTC halving event is highlighted as a critical juncture in BTC’s chronology, with 57% of Finder’s experts forecasting a moderate appreciation in its price in the months preceding the event. This expectation mirrors a historical trend, wherein BTC’s value has typically experienced an upswing subsequent to halving events, a phenomenon attributed to the diminished rate at which new BTC enters circulation. Damian Chmiel, the senior analyst and editor at Finance Magnates, anticipates that BTC will settle at $30,000 this year, with its value escalating to $50,000 by 2025.
“Next year’s halving could be an event that shifts the balance of power in favor of bitcoin. I still believe that the digital asset will ultimately reach new all-time highs and attain a six-figure value,” Chmiel expressed. While the 57% predict a moderate increase in anticipation of the halving, 30% anticipate a more substantial upswing, and 3% foresee no price fluctuation prior to the event. The report also delves into bitcoin’s global influence, underscoring its status as a market forerunner and its impact on the broader financial landscape.
Desmond Marshall, the managing director at Rouge International and Rouge Ventures, offers a less optimistic outlook than many of his contemporaries. He attributes his bearish forecast to recent regulatory clampdowns by SEC chairman Gary Gensler and “rumors of a recession.” He predicts that by 2025, bitcoin’s value will be $35,000, mirroring its current price trajectory this past week.
“BTC is still the strongest crypto of all, so I don’t think the dip will be as hard as other tokens,” Marshall said. “The halving timeline should increase it a bit, but the human interference of U.S. policies will block it from going to the moon.”
Interestingly, this latest report from Finder adopts a more cautious stance than its predecessors, issued last year, where some experts projected six-figure BTC valuations. In conclusion, the report states that 66% of Finder’s 31 fintech and crypto specialists believe that the present moment is opportune for acquiring BTC, while 24% advocate for maintaining current holdings. Approximately 10% of the experts recommend selling BTC at this juncture.
What do you think about the latest report from Finder’s concerning bitcoin’s future price? Share your thoughts and opinions about this subject in the comments section below.