New report predicts Bitcoin to hit $188,451, set timeframe for new all-time high
A new report by independent research firm, Finder, has predicted that Bitcoin (BTC) will hit an all-time high of $188,451 after investors suffered significant losses in 2022.
In the report obtained from Finder on Thursday, Ripples Nigeria gathered that Bitcoin will surge to $188,451 in 2030, as predicted by analysts covered by Finder.
The research firm said before the BTC will climb to that level, it will touch $77,492 in 2025. It also stated that Bitcoin is expected to peak at $29,095 in 2023.
It will, however, settle at $26,844 at the end of this year, the same year Finder stated BTC will hit a low of $13,067, indicating that the crypto-asset will not replicate its previous all-time high of $65,000, recorded in November 2021, anytime soon.
With Bitcoin currently trading around $22,975.35, Finder said 50 per cent of experts it interviewed stated that “now is a good time to buy BTC and 37% feel that it’s a good time to hold the asset. Only 13% of the panelists felt that now is a good time to sell BTC.”
The report also reads that when asked if Bitcoin was overpriced or underpriced, “Most of our panelists feel that Bitcoin is currently selling at a discount. 64.71% feel that Bitcoin is currently “underpriced.
“1 in 5 (19.61%) feel that Bitcoin is currently “priced fairly”, while 16% (15.69%) feel that Bitcoin is currently “overpriced.”
Read also:Bitcoin investment grows by 16.7%, as FTX recovers $5bn assets
One of the analysts, the founder and creator of Seasonal Tokens, Ruadhan O, said Bitcoin might peak at $27,000, adding concerns about the financial health of centralised businesses in the industry will continue to suppress the digital currency’s price.
“The price is low because possible imminent catastrophes are being priced in. By the end of the year, market sentiment will have changed, and after the fear goes away, the market will rediscover the scarcity of Bitcoin,” he said.
Meanwhile, FxPro senior market analyst, Alexander Kuptsikevich, said Bitcoin is currently underpriced and the active sell-off among BTC holders has come to an end.
Kuptsikevich said, “The phase of the most active cryptocurrency sell-off is over. 2023 will be a year of careful price recovery. However, a real FOMO market is unlikely to come until 2024-2025.”
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