As the new year recently cam upon us, there have been some interesting speculation regarding the future price of Bitcoin. I have heard in the long run some predictions are that the price of Bitcoin will be over 1 Million Dollars. Is this possible? Yes, will it happen?" That remains to be seen.
On to 2023. I have read here: https://www.cnbc.com/2023/01/02/the-boldest-bitcoin-price-predictions-for-2023.html some predictions by various experts about Bitcoin for 2023. The prediction range for the year is anywhere from $5,000 to $250,000 by the end of the year. That is quite a difference in prediction.
I think something in the short term that will help the price of all cryptocurrency, will be a lowering of interests rates as inflation goes down. Will this help set up the next great bull run? Only time will tell.
One of the interesting things I have come to learn about cryptocurrency is that everything seems to be driven by sentiment/emotions. I mean, that is something. However, it is not for me. If Bitcoin were to get to $5,000 I would buy a few. I don't see that happening though. I have been wrong at least once. It is not an emotional decision on whether or not to buy, it is determined on price, buying low and avoiding the FOMO on the way up to not buy to high.
I hope Bitcoin goes to $250,00, or close to the high end of the prediction as it will only help all other cryptocurrencies. I find it fascinating the widely differing of opinion on the price of Bitcoin for the year. No one really knows, but here is my prediction, I think we get close to the $50,000 to $75,000 range by the end of the year.
