Crypto

Bitcoin Could Hit $103,000, Say Those Who Still Believe

2022 was a terrible year for the crypto industry: the collapse of the UST stablecoin, the bankruptcy of the FTX exchange, or the general fall in the price of bitcoin. What lessons can we learn from all these events? Opinions differ and range from the most gloomy pessimism to wild optimism.

Six stacks of bitcoins / Credit: 123rf

In the game of predictions about the future of cryptocurrencies, commentators on the American continuous news channel CNN have very different opinions. Bitcoin, the symbolic currency of this sector, was worth $47,000 at the beginning of 2022. Now it is worth less than 17,000. In a year, it has lost almost two-thirds of its value. While some economists are talking about “rebuilding,” some journalists like CNN’s Emily Parker openly ask the question: “Now who will save cryptocurrencies? “. Others are less categorical in their opinion, not foreseeing an improvement in the situation.

Ms. Parker’s colleagues, Allison Hope and Jill Filipovich, are predicting a gradual decline in the value of bitcoin. According to these ladies, by the end of 2023, the price of BTC will reach a maximum of $13,000. At the same time, according to other reporters, the situation should improve. Therefore, they do not hesitate to predict a phenomenal increase in the price of bitcoin by more than 500%: in 12 months, in their opinion, bitcoin could very well be worth $103,000.

According to this journalist, in less than a year, the value of Bitcoin will exceed 500%.

However, at the moment it is difficult to see the future of cryptocurrencies in pink. Following the disappearance of FTX and the arrest of its CEO, Sam Bankman-Fried, on suspicion of fraud, Binance is now under investigation for money laundering. The world’s largest cryptocurrency exchange is also in the spotlight.

Back in March 2022, Steve Wozniak predicted that the value of Bitcoin would reach $100,000. While 1 BTC was trading at $40,000 at the time of this prediction, Bitcoin is currently only worth $17,000. Don’t let the co-founder of Apple get it wrong too quickly. In the field of blockchain and cryptocurrencies in particular, everything is changing very quickly.

Source: CNN

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