Cryptocurrency News Predictions
After a tumultuous 12 months for cryptocurrency, the news predictions for 2023 and the years ahead are mixed.
Looking back, 2022 wasn't the best year for crypto. Terra Luna collapsed and resulted in an estimated loss of $300 billion across the crypto market. FTX collapsed and shaved $183 billion from the market. Bitcoin, the largest cryptocurrency, fell by 22%.
The exchange and coin collapses resulted in several crypto companies filing for bankruptcy, including BlockFi, Three Arrows Capital (3AC), Hodlnaut, and Voyager. Other companies that filed for bankruptcy in 2022 include Celsius, Vauld, and Zipmex.
Despite all the woes affecting the market, many believe it's just another season that will pass. The comeback story is on the way.
Some even believe 2023 may be the year crypto returns to its glory days. However, many have also become wary of it and predict a gloomy future. Some even say it might be an end for digital currencies.
Positive cryptocurrency news predictions
Considering the cryptocurrency industry moves based on Bitcoin's price, the predictions here will be informed by it.
Several analysts, investors, and supporters predict a positive future for the industry based on Bitcoin's performance.
In January 2022, Yassine Elmandjra, an ARK Invest analyst, predicted Bitcoin could reach a price of $1 million by 2030. CoinLoan founder and CEO Alex Faliushin agreed with Yassine. According to Faliushin, by 2030 the whole industry will be more transparent and regulated, attracting more money into the market, which could lead to a rise in BTC price.
In October 2022, despite the industry's negative trend, a panel of 55 industry specialists surveyed by Finder predicted BTC would surge to trade at $270,722 by December 2030.
The latest cryptocurrency news predictions reveal that investors don't have to wait until 2030 to realize profits on their investments. Analysts and investors like Tim Draper, Alistair Milne, and Carol Alexander predict that 2023 might just be the year the industry makes a comeback.
According to Draper, a long-term cryptocurrency supporter and investor, Bitcoin might trade at $250,000 by mid-2023. The founder of Altana Digital Currency Fund, Milne, is not as optimistic, but he predicts that BTC might surge to trade at $45,000 in 2023. Both men cite the upcoming Bitcoin halving as a key factor to the coin's performance in 2023.
Alexander, professor of finance at Sussex University, predicts BTC might increase by $30,000 in the first half of 2023. According to the professor, BTC might trade at $50,000 per coin by the end of 2023.
The CIO of Arcane Assets, Eric Wall, is hopeful that BTC might trade above $34k in 2023.
Anthony Scaramucci, the founder of Skybridge Capital, called 2023 a recovery year for BTC. According to him might trade at $50,000 to $100,000 in two to three years.
Besides the analysts, several crypto prediction platforms also predict a positive future for the leading cryptocurrency and the entire industry.
Ambcrypto predicts Bitcoin might trade at an average price of $32,000 in 2023, $29,000 in 2024, $38,000 in 2025, $51,000 in 2026, $68,000 in 2027, $90,000 in 2028, and $119,000 in 2029. According to the site, the coins might trade at an impressive price of $490,000 by 2034.
Analyticsinsight predicts BTC might be worth $34,690 in 2023, $50,711 in 2024, $74,683 in 2025, $105,149 in 2026, $153,665 in 2027, $218,265 in 2028 and $323,564 in 2029.
Priceprediction says BTC might trade at an average price of $36,000 in 2023, $53,000 in 2024, $77,000 in 2025, $117,000 in 2026, $166,000 in 2027, $239,000 in 2028, and $337,000 in 2029. The cryptocurrency might be worth $719,000 by 2031, according to the site.
Negative cryptocurrency news predictions
Mark Mobius, founding partner of Mobius Capital Partners, is one of few people who predict a dark future for the crypto market, according to the latest cryptocurrency news prediction. As early as December 2022, Mobius predicted that BTC would drop to trading at $10,000 by 2023.
The veteran investor states that with the US Federal Reserve tightening monetary policy and rising interest rates, BTC is poised to suffer more losses in 2023.
Matthew Sigel, head of digital assets research at VanEck Investments, seconded Mobius's prediction. Sigel predicts Bitcoin will trade between $10k and $12k in 2023. His prediction is based on higher energy prices and Ripple's SEC lawsuit.
Eric Robertsen, head of research at Standard Chartered bank, predicts an even darker future for BTC, stating that it might drop to trading as low as $5,000. He made his prediction back in December 2022.
WalletInvestors is one of a few crypto predictions platform that has predicted an ugly future for BTC and, thus, the entire cryptocurrency market. According to the site, BTC might end 2023 trading at an average price of $10,434. By 2024, the leading cryptocurrency might be worth $1,604.
Should you invest in the crypto market?
Based on the latest cryptocurrency news predictions, there are many reasons to be wary of the crypto market and many reasons to keep holding on as an investor. Supporters are divided on the market's future; some predict a positive future while others foresee an ugly one.
If you are already an investor, many supporters say there is no need to ditch the market. There have been worse days and the industry has always managed to survive. It is not the end yet.
Many supporters are hopeful that with the industry getting more transparent and with more regulation, it might draw in more investors, which will help with its growth.
If you want to invest in the crypto market, you must do your own research. The industry's volatility makes it hard to rely on predictions for investment decisions.
A good way to get into the market and survive situations like 2022 is to diversify your investment portfolio, according to many investors and experts.
Author: Jay Jackson
Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks.