ShapeShift CEO Erik Voorhees expects Bitcoin to reach $40,000 by the summer, while Tim Draper has stayed true to his $250,000 goal for the second year in a row.
In the last few weeks, there hasn’t been much agreement among Bitcoin’s commentators, with Crypto execs, research analysts, and billionaire investors offering wildly different perspectives on what’s in store for Bitcoin in the coming year.
Bitcoin will rise to $40,000 by the summer, according to one Crypto exchange founder, while a Bitcoin billionaire has reiterated his bullish $250,000 BTC price prediction for the year.
Erik Voorhees_$40,000 by the “summer”
During an interview with Bankless, the founder and CEO of ShapeShift was optimistic about a potential recovery of the price of Bitcoin. Stating he “wouldn’t be surprised” in the event that Bitcoin hit “like $40K” by the “summer.”Voorhees said that if his prediction came true, it would be a 2.5X.
The Crypto executive couldn’t pinpoint the timing of the next bull run, just saying it would come sometime within the next “six months to three years.”
He shut down the idea that it could take as much as “10 years,” notwithstanding, arguing that if that happened it could mean the entirety “thing probably failed.”
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.
When the next rally happens, the commentators will be the ones to be blindsided because of the reputation of the outsiders.
Whether we are in a bull or bear market, we are in the middle of a revolution.
Tim Draper_ $250,000 by April 2024
Tim Draper, a billionaire investor in the digital currency, has continued to stick to his guns on his $250,000 prediction.
He has it printed on a T-shirt.
Draper made the bold $250,000 Bitcoin price prediction in April 2018 during a speech at his own Draper University in San Mateo.
, he said he was “thinking” of $250,000 for a Bitcoin by 2022, calling it a “crystal ball.
Draped said in his most recent tweet that people would dismiss those who believe in his plan as “crazy,” but that it would happen and be “awesome.
his optimistic prediction was met with mixed reactions on Twitter, with one user claiming to have “lost interest” in the price of Bitcoin after Celsius stole the “one Bitcoin” they had, another wrote “you have high hopes,” and another predicted that it would be “unlikely” to even reach $30K in 2023.
Mike McGlone _$100,000 by 2025
Draper’s words may be seen as particularly encouraging even among Bitcoin supporters.
Bloomberg Intelligence Senior Commodity Strategist Mike McGlone, who has been optimistic about Bitcoin’s future in the past, announced in September that the cryptocurrency would only reach $100,000 by 2025.
He’s made this prediction once before, in an interview with Kitco News in October 2020, where he said Bitcoin is “on track” to reach “$100,000 by 2025,” and a year later, he said it’s only a “matter of time” before it hits “$100,000.
Standard Chartered _$5,000 in 2023
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 conceivable “financial-market shocks” of the year.
According to a Dec. 5 report from CNBC, rising yields and a dive in tech stocks could prompt an acceleration of a Bitcoin auction, causing further bankruptcies and collapses in crypto and a collapse in investor confidence in digital assets.
In any case, the author of the investor note, Eric Robertsen — the company’s worldwide head of research — noted that this was an extreme prediction that fell outside its own baseline perspectives and outside of market consensus.
Some industry figures have been confident enough to share their predictions for the future, but others have been more reserved.
Antoni Trenchev, co-founder and managing partner of digital asset management platformNexo, recently told Cointelegraph that there are many factors that can affect the price of Bitcoin.
Alex McCurry is the CEO and co-founder of Solidify.
The author of the best-selling book Rich Dad, Poor Dad, Robert Kiyosaki, hasn’t made any price predictions in the last few months.
Kiyosaki said in December that he was investing in Bitcoin and is “very excited” about it because it is classified as a commodity similar to gold, silver, and oil, unlike other crypto tokens that have been classified as securities, he said.