ShapeShift CEO predicts this momentous milestone for Bitcoin in 2023

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ShapeShift CEO Says BTC Has Potential To Hit $40,000 By Summer However, According To Standard Chartered, BTC Could Drop As Low As $5,000

There has been little consensus among Bitcoin [BTC] experts in recent weeks, with billionaire investors, research experts, and crypto executives all providing starkly divergent predictions for the future of cryptocurrency.

A Bitcoin billionaire has updated his bullish BTC price prediction of $250,000 for the year, while the founder of a cryptocurrency exchange has predicted that Bitcoin will hit $40,000 by summer.

In an interview with Bankless on Jan. 2, Erik Voorhees, the founder and CEO of cryptocurrency exchange ShapeShift, expressed confidence in the future rebound in Bitcoin’s price, saying he “wouldn’t be surprised” fetched “about $40,000”. by “summer”.

If Voorhees’ prediction came true, the price of the king’s coin would be,

“2.5X” higher than its current value of $16,666, which it described as an “excellent yield”.

Other positive predictions for BTC

The cryptocurrency executive could not predict when the next bull run would occur, instead anticipating that it would,

“Six months to three years from now.”

He refuted the idea that it could take up to “10 years”, saying that if that were to happen, the whole “project […] lack.”

The macroeconomic environment, interest rates, and tighter monetary conditions will all have a significant impact on the development of the crypto market this year, according to Voorhees.

Additionally, he agreed that the way outsiders view cryptocurrency is “just plain garbage,” but that those pundits will also be “blindsided” at the next rally.

Tim Draper, a millionaire Bitcoin investor, remained firm in his prediction that the price of one Bitcoin would reach $250,000, as evidenced by his last tweet on January 1.

See t-shirt. $250,000 by 2022. My prediction was a little off. Hasn’t gotten there yet. Certainly before the halvening. #truebelievers #bitcoin #worldoftrust #freedom #hodl pic.twitter.com/jMLi8rraj8

— Tim Draper (@TimDraper) December 31, 2022

In April 2018, Draper presented the audacious Bitcoin price prediction of $250,000 during a keynote at his own Draper University in San Mateo.

In September, Mike McGlone, a senior commodities strategist at Bloomberg Intelligence who previously expressed optimism about Bitcoin’s future, predicted that the cryptocurrency would hit just $100,000 by 2025.

Finally, in an October 2020 interview, he stated that Bitcoin is “on track” to reach “$100,000 by 2025”. He has already made this prediction. In an interview with Kitco News a year later, he claimed he would hit $100,000 in “a short time”.

However, not all Bitcoin predictions are positive

As stated in the title, all of the aforementioned predictions were more or less accurate. However, be prepared for bad news. According to Standard Chartered, BTC could fall as low as $5,000. In December, the financial institution expressed its opinions by stating:

More and more crypto businesses and exchanges find themselves with insufficient liquidity, leading to further bankruptcies and a collapse in investor confidence in digital assets.

On January 3, Solidify.io CEO and co-founder Alex McCurry simply stated:

“Bitcoin is a completely unpredictable asset.”

Although he regularly tweets about Bitcoin, Robert Kiyosaki, the author of the bestselling book “Rich Dad, Poor Dad”, has not predicted a price in recent months.

Improving macroeconomic environment, adoption, demand compression and supply halving. These are the things that cryptocurrency can benefit from.

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