For the last time this year, we look at the crypto markets. After the turbulence of recent weeks, things are gradually settling down. Bitcoin weakens after us, but there is hope that everything will be better in 2023.
The year is coming to an end, but this time there are no price fireworks in the crypto markets – lacking the momentum for a bull run at the end. Bitcoin has been stagnant for some time, forecasts expect only small jumps in the short term. But as BTC bulls now prepare for 2023, a popular analyst predicts a rally in Bitcoin that will push the asset to new heights.
How much will bitcoin be worth in 10 years?
That’s the big question on many long-term investors’ minds right now: Will bitcoin skyrocket and reach prices that make it worth buying now in 2030? Several analysts and industry observers consider such a development to be possible:
Morgan Creek Digital CEO Mark Yusko, for example, estimates that Bitcoin could reach $100,000 as early as 2024. MicroStrategy founder Michael Saylor, on the other hand, believes that Bitcoin will overtake gold within the next ten years, setting a price target of $500,000 per coin. BTC. “The next logical step for Bitcoin is to replace gold as a non-governmental store of value,” Saylor said.
The Bitcoin forecast from Ark Invest CEO Cathie Wood is even more bullish: she sees BTC at $1 million by 2030. In short: Bitcoin is currently struggling – but the fundamentals of the cryptocurrency are undamaged, as is the long-term outlook. Even the last 12 months with all their dramas, crashes and bankruptcies haven’t changed that.
Regulation as an explosive course guide
“It’s never the end of the world,” adds former Goldman Sachs hedge fund manager Raoul Pal. “People say, ‘Well, nobody’s ever coming back to this market.'” However, he has been in the financial markets for more than 30 years and knows the same situation from hedge funds. The US Federal Reserve had to bail out “the whole system” at a time when everyone would have been talking about fraud. With what result? “Hedge fund net worth has quintupled over the next seven years. And why? Regulation.” This is necessary to create a legally safe environment for institutions and small investors – because according to Pal: “Regulation means safety, means green light, means free travel.” Regulation as a bullish factor that is.
Bitcoin lawyer Michael Saylor has also emphasized for some time: trillions of dollars are waiting to be invested in Bitcoin – but the institutions first need legally binding guidelines for this. They are coming, worldwide – a development that has accelerated the bitter FTX fiasco. One can only hope that the legislature will craft appropriate regulations that are practical and don’t throw the crypto baby out with the bathwater.
Bitcoin Prediction 2023: Is The 366% Rally Coming?
The BTC rate is currently not moving. But there is already light at the end of the tunnel. Several factors signal: 2023 will be a strong year for Bitcoin and Co. – finally again. The blockchain researchers from Glassnode report, for example: 17% of all circulating bitcoins now belong to private investors – a new all-time record. “Not perfect yet, but solid for a 12-year asset and clearly trending in the right direction,” commented popular on-chain analyst Will Clemente.
The pseudonymous chartist “Inmortal” thinks so too: Bitcoin bulls are getting ready for a rally in the new year. In his estimation, Bitcoin has started a trend reversal that will see the asset go through the roof in 2023. He shows his more than 189,000 Twitter followers a bitcoin course from 2019. You can see it: within a few weeks, the asset has exploded by 366% – from $3,000 to $14,000. He writes succinctly: “We will repeat that in 2023.” Bitcoin is currently trading at $16,860 – a rally like 2019 would therefore take BTC to more than $61,000 and thus very close to the previous record high of $68k. That would be a sense of accomplishment that the industry could really use.