Bitcoin price above $40,000 USD?

Finder continuously conducts surveys among experts asking them to predict the USD price of Bitcoin. 

These are 32 fintech and cryptocurrency specialists, including eToro market analyst Simon Peters, Boston Trading Co CFO Jeremy Britton, and FxPro senior market analyst Alexander Kuptsikevich. 

Once all 32 forecasts are received, Finder averages them. 

This time, the average of the 2023 maximum price predicted by Finder’s experts for Bitcoin was found to be $42,225, while the average of the year-end price was found to be $35,458. 

Other predictions regarding the USD price of Bitcoin

It is worth noting that these two averages are in line with several other analysts’ forecasts, according to which during 2023 there would be a chance for Bitcoin’s price to return even above $40,000, but after that it might retrace a bit. 

The individual figures actually differ, but the two concepts of crossing the $40,000 threshold during the course of the year, and then retracing, are shared by many analysts. 

It is also worth mentioning that in 2023 Bitcoin’s price trend is following a similar parabola to that of 2019, i.e., the previous year after the bear-market, and if this imperfect parallelism were to continue, a breach of the $35,000 threshold can be expected as early as June. 

It is important not to forget though, that there is no certainty that things will actually go that way and in fact not all analysts agree. 

Opposing views

For example, according to one of Finder‘s experts, the director of Digital Capital Management AU, Ben Ritchie, the price of Bitcoin during 2023 could even fall to $12,000, well below the 2022 low.

However, even Ritchie argues that Bitcoin has the potential to hit a peak above $40,000 at some point during the year. 

Another Finder expert, University of Canberra professor John Hawkins, argues that Bitcoin is just a speculative bubble and will eventually burst, but he could not say when. 

It is worth noting that $12,000 is also cited by other analysts as a possible minimum peak in Bitcoin’s price during 2023, but only in the event of a collapse of traditional financial markets. 

Others are convinced that, in the absence of a collapse of financial markets, it could fall as low as $25,000. 

According to senior cryptocurrency and forex analyst at AskTraders, Nick Ranga, $25,000 is just the key level to watch, because it could provide support throughout the rest of the year. 

However, Ranga himself is convinced that as the next halving approaches, which will take place in the spring of next year, it is possible that Bitcoin in the future could exceed the current all-time high of $69,000, and even aim for $100,000. 

In other words, although there are several experts who assume a realistic rise above $40,000 during 2023, the assumption is not one of a steady ascent without a return well below $30,000. 

Then again, to confirm the trend similar to 2019 there is time until June for an ascent above $35,000, and in this period a return to $25,000 could absolutely fit. 

Lows and highs

As many as eight of Finder’s 32 experts argue that between now and the end of the year, Bitcoin’s price should no longer fall below $19,000, with $25,000 to keep an eye on as a critical threshold for whether the uptrend is confirmed or not. 

Four speculate a drop below $12,000 as well, but 19 argue that it cannot go below $16,000. 

As for highs, as many as nine experts speculate a peak above even $45,000 during 2023, and 19 argue that it could rise above $36,000. 

The range between $16,000 and $36,000 is quite wide, so Finder’s panel is in fact assuming that volatility over the medium/long term will remain high. 

USD price forecast for Bitcoin in the long term

Although the long-term forecasts are even more difficult to make, and therefore uncertain, they are worth mentioning because they indicate widespread optimism. 

In fact, Finder’s panel of experts on average believes that by the end of 2025, it could actually reach $100,000, thanks to a new post-halving bull run. 

In the past, all three halvings that have already occurred have been followed by a bull run the following year, so it is not surprising that many expect a new bull run in 2025 following the 2024 halving. 

It is worth noting that Finder’s panel even imagines reaching $300,000 by 2030, which is assuming a new bull run following the 2028 halving. 

By now, however, the assumption of a post-halving bull run in 2025, or as early as late 2024, is so widespread that the very anticipation of it could also play tricks. It will be necessary to monitor the price trend of BTC between now and the next halving to see whether the trend will continue to be similar to past cycles or not.