Huge Crypto Price Prediction Reveals Bitcoin Could Nearly Double By 2023

Bitcoin
BTC
and cryptocurrency prices have crashed through 2022, with the price of bitcoin losing almost 70% from its all-time high at the end of last year.

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The price of bitcoin this week rallied above the psychological level of $20,000 per bitcoin despite crypto billionaire Sam Bankman-Fried issuing a stark warning.

Now, survey data has revealed that the average cryptocurrency user expects the price of bitcoin to rebound to around $38,000 in the next six months.

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Crypto owners expect bitcoin to rebound to around $38,000 before the end of 2022, according to a survey by intelligence firm Morning Consult of around 4,400 American adults, which found that the owner Average crypto remains very optimistic about a rebound in bitcoin despite the recent weakness in the price crash.

The survey showed that bitcoin and crypto holders are much more optimistic than the general public, with those who own bitcoin constantly predicting that the price will be higher than it is.

Many bitcoin and crypto investors continued to make bullish bitcoin price predictions even as a brutal crypto crash wiped roughly $2 trillion in value from the combined crypto market.

Earlier this week former stockbroker Jordan Belfort, whose financial crimes in the 1990s inspired the film the wolf of Wall Streetpredicted that the price of bitcoin will “almost certainly” climb over the next three to five years.

“Cryptocurrency owners’ optimism may well prove misplaced as we enter what the CEO of Coinbase recently described as a ‘crypto winter,’” analysts at Morning Consult wrote. “As the price of bitcoin drops, many owners may well reconsider their positions.”

Last month, Brian Armstrong, chief executive of leading bitcoin and crypto exchange Coinbase, warned that a looming global recession could exacerbate a prolonged decline in crypto prices.

“We appear to be entering a recession after an economic boom of more than 10 years. A recession could lead to another crypto winter and could last for an extended period of time,” Armstrong wrote in a June email to Coinbase staff. “Although it is difficult to predict the economy or the markets, we always plan for the worst so that we can operate the business in any environment.”

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The researchers also warned that if those who have held bitcoin for at least three years sell, it could “incentivize” others to cash out, driving the price down further.

“Those who have been invested for at least three years will still be in the dark if they choose to sell at the current low price, and the rising volatility may prompt others to consider cashing in in the future,” the analysts added. .