🚨"Crazy" scenarios for Bitcoin this year...between $5,000 and $1 million!🚨🤔
🚨Hello Crypto Banter community 🚨
The year 2022 has been very difficult for all cryptocurrencies including Bitcoin. The world's largest cryptocurrency has lost nearly 65% of its market value in the whole of 2022.
Meanwhile, crypto enthusiasts were caught off guard by a series of unfortunate events such as the Terra Luna crash, the collapse of the FTX crypto exchange, and looming macroeconomic conditions.
But there are many questions hovering in everyone's mind: What will happen next? Will Bitcoin Rise Back To Its Previous Highs?
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Will bitcoin rise this year? (optimistic outlook)
Bitcoin, the world's largest digital currency, continues its climb over the past few weeks, as it was at a nine-month high at $28,000 levels, trading in a consolidated manner, until it is now down 3.5% at $27,722 levels at the time of writing. Bitcoin started correcting its prices once it was unable to clear the crucial resistance level of $28,000, last week. However, it is still holding the $27,000 levels with the immediate resistance at $28,000.
Bitcoin may try hard to touch the $28,000 levels, but its dominance is constantly on the rise. Bitcoin dominance has reached a nine-month high, above 45% for the first time since June 2022.
Can Bitcoin reach $100,000 by the end of 2023?
We all know that Bitcoin has gained more than 70% since the beginning of this year. With such massive and unexpected gains, it has definitely outperformed many other major assets and has given huge returns to those who bought Bitcoin on the dip.
The industry is really excited to see the new peak of the world's largest digital currency and hopes for more. Marshall Byrd, chief strategy officer at US cryptocurrency exchange Gemini, believes that Bitcoin will break all-time highs this year. The $100,000 price number is “an interesting number,” he said, “if bitcoin reaches its previous record high near $69,000.”
If Bitcoin really touches that magic number, it should show a rally of 270%.
Paolo Arduino, Tether's chief technology officer, also has a completely bullish view on Bitcoin. He said bitcoin could "retest" its all-time high near $69,000.
However, 2023 seems to be a good year for Bitcoin advocates, who always consider it a "safety investment" or "digital gold" that can offer investors a good hedge opportunity or an attractive return in chaotic times.
Bitcoin, which got a big boost on hopes that the US fiscal and banking situation could reduce the chances of more aggressive rate hikes by the US Federal Reserve.
Can Bitcoin reach $1,000,000 by 2025?
Bitcoin fans always have very bright and sometimes impossible predictions for their favorite currency. And after this mini-race, there are many discussions going on that the world's largest digital currency, Bitcoin, could see the $1 million mark by 2025.
Chinese-Canadian bitcoin entrepreneur and CEO of crypto company, JAN3, Samson Mao, believes the digital currency will reach $1 million in the next five years.
With more of these wild guesses, Balaji Srinivasan, investor and former CTO of Coinbase, bet that Bitcoin could reach $1 million or more in just 90 days.
Srinivasan made this strong statement based on the belief that as the world progresses into a phase of hyperinflation, the value of the dollar will weaken and people will start buying more and more bitcoins.
On the other hand, cryptocurrency experts believe that Bitcoin may touch $1 million in the coming years, but not soon, and predicting that level in 2023 or in 90 days is almost impossible.
"Bitcoin will be $1 million in 90 days, and some crazy things are happening in the world, which we don't want," Marshall Byrd, chief strategy officer of US cryptocurrency exchange Gemini, stated, however, he said it could take 10 years to reach that level. Nowhere near this extreme prediction.
What do you think 🤔.......
in the comments.......
@HLSPORTRAIT
