Glamtush
No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship
No Result
View All Result
Glamtush
No Result
View All Result
Home Business & Brands

Bitcoin Price To Hit $29,000 In 2023 – Report

byAngela Davies
January 26, 2023
in Business & Brands
Bitcoin Price
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

The price of Bitcoin is expected to peak at $29,095 in 2023 before ending the year at $26,844, a new report from Finder has stated.

 

The report also said that some of its panelists predicted a 2023 low of $13,067 for the digital currency. While the price of BTC is expected to rise in 2023, it will stay well below its all-time high of over $65,000 in November 2021.

READ ALSO

Black Market Dollar To Naira Exchange Rate Today 27 January 2023

Rugby Star, ‘The Beast’ Mtawarira Is Healthgarde’s New Brand Ambassador

Seasonal Tokens creator and founder, Ruadhan O, stated that BTC might peak at $27,000 as BTC’s price would be suppressed by worries about the financial health of centralised businesses in the industry.

He said, “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.”

According to FxPro senior market analyst Alexander Kuptsikevich, BTC was currently underpriced.

“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,” Kuptsikevich said.

The report predicted that BTC will jump to $77,492 in 2025 and $188,451 in 2030.

Finance Magnates senior analyst and editor Damian Chmiel said BTC will be worth $70,000 in 2025. He added that BTC needs two things to rebound, the return of bullishness on Wall Street and the Fed’s exit from its rate-tightening policy.

READ ALSO  BREAKING: Naira Gains Massively At Official Market, See New Exchange Rate

He said, “The former will not happen without the latter, and we are left to wait patiently for now. In the long term, however, I believe Bitcoin will become a popular choice among traders.”

University of Canberra senior lecturer John Hawkins, said BTC was overpriced and will close the year at $10,000, before dropping to $5,000 in 2025 and $500 in 2030.

According to Hawkins, Bitcoin has no useful role as an asset after it’s been “spruiked as a payments instrument, safe haven, inflation hedge and diversification asset.”

“In the short term, more of the crypto companies that are shedding staff and restricting withdrawals, and no longer have FTX to bail them out, will fail, putting downward pressure on the Bitcoin price,” he continued.

The report read in part, “While BTC is currently rallying above $20,000, the panel expects it to drop to $13,067 at some point in 2023 – the lowest it’s been since October 2020.

“Following the recent market crash and FTX collapse, a fifth (21 per cent) of Finder’s panel believe institutional investors will leave the crypto market for other asset classes this year. However, the majority (75 per cent) think otherwise, while the remaining 4 per cent are unsure.”

According to AskTraders senior cryptocurrency and forex analyst Nick Ranga, institutional investors will leave crypto this year. He said, “With inflation still uncomfortably high and recession risk looming, overall market sentiment remains risk-off.

“US interest rates are expected to peak at around 5 per cent in the first half of 2023 so we could see investors return to riskier assets later in the year. In the short term there could still be more downside.”

READ ALSO  Naira Crashes To All Time Record Low Against Dollar, See New Exchange Rate

Rouge International managing director Desmond Marshall, added, “Unless there are more sudden surprises like FTX, the market is now undergoing a cleanup of scammy and faulty exchanges and companies.

“After this cleanup and with the Fed interest continuing to hike, and with the BTC upcoming halving in 2024, there should be stronger support during H2 of 2023.”

 

Related

Related Posts

Dollar To Naira Exchange Rate
Business & Brands

Black Market Dollar To Naira Exchange Rate Today 27 January 2023

January 27, 2023
Healthgarde
Business & Brands

Rugby Star, ‘The Beast’ Mtawarira Is Healthgarde’s New Brand Ambassador

January 26, 2023
SFS Fund Mobile App
Business & Brands

SFS Fund Mobile App Records Increase In Users’ Download By 300%

January 26, 2023
Union Bank Save & Win Palli Promo
Business & Brands

Over 50 Million Naira Up For Grabs In The Upcoming Union Bank Save & Win Palli Promo Finale And UnionKorrect Draws

January 25, 2023
Dollar To Naira Exchange Rate
Business & Brands

Black Market Dollar To Naira Exchange Rate Today 25 January 2023

January 25, 2023
SME Conference 
Business & Brands

Union Bank Reiterates Support For Small Businesses At BusinessDay Top 100 SME Conference 

January 24, 2023
Next Post
NAUTH Doctors

NAUTH Doctors Commence Five-Day Warning Strike Over Assault On Members

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

E-Magazine Covers

GTCO Fashion Weekend
Lace Styles
PVCs

INEC Extends Deadline For Collection Of PVCs

January 29, 2023
Adeleke

Don’t Issue Certificate Of Return To Oyetola Pending Outcome Of Appeal, Adeleke Urges INEC

January 27, 2023
Osun Election

Adeleke Reacts To Tribunal Ruling, Vows To Appeal Judgement

January 27, 2023
Tribunal Annuls Election Of Adeleke As Osun Governor, Declares Oyetola Winner

Governor Adeleke’s Sack As Osun Governor: Is Primate Ayodele’s Prophecy Coming To Pass?

January 27, 2023
Tribunal Annuls Election Of Adeleke As Osun Governor, Declares Oyetola Winner

Tribunal Annuls Election Of Adeleke As Osun Governor, Declares Oyetola Winner

January 27, 2023
Most Expensive Football Club Takeovers

Five Most Expensive Football Club Takeovers In History

January 27, 2023
Dollar To Naira Exchange Rate

Black Market Dollar To Naira Exchange Rate Today 27 January 2023

January 27, 2023
Stabs

Hoodlum Stabs Funeral Guest For Dating Ex-Wife

January 27, 2023
Nasarawa Governor

Nasarawa Governor Loses Son

January 27, 2023
BBNaija

BBNaija: Celebrities React To OAP Nedu’s ‘It’s Only Sex They Offer’ Comment

January 27, 2023

Glamtush is a fashion, beauty and lifestyle online magazine. We bring to you latest trends in fashion, beauty and lifestyle as well as those making the fashion world interesting and adorable.

  • About Us
  • Advertise
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
    • Education
    • Health
    • Metro/Crime
    • Nigeria News
    • Photo News
    • World News
  • Politics
  • Business & Brands
  • Entertainment
    • Celebrities
    • Movies
    • Music
    • Telemundo
    • Telenovelas
  • Sports
  • Fashion
    • Accessories
    • Celeb Style
    • Designers
    • Lookbook
    • Style Crush
    • Trends
    • Who Wore It Better
  • Features
    • Dear Angie
    • Interviews
    • Opinions
  • Beauty
    • Hair
    • Skin
    • Nails
  • Lifestyle
    • Career
    • Food & Drinks
    • Fitness
    • Travels
    • Weddings
  • Events
  • Relationship

© 2022 Glamtush