Top Bitcoin Price Predictions for 2023

  • January 18, 2023
  • 4 Min Read

Often seen as a digital replacement for gold, Bitcoin's role as a store of value has already been proven historically, but only if you've held it long enough. Newer buyers and sideline skeptics have reason to treat the notion with raised-eyebrow suspicion.

Where does Bitcoin go from here? Up or down, it's anyone's guess, and we've assembled some of the best guesses from big names in finance, investing, and the crypto industry.

Top BTC Price Predictions For 2023 (and beyond)

As 2023 develops, we’ll likely have more Bitcoin price predictions rolling in as crypto price prognosticators develop a better understanding of market and macro factors that could affect Bitcoin’s price. Many in the crypto and finance community take a longer view, spanning from the next few years to a more nebulous “eventually.” Similarly, market sentiment ranges from “to the moon, bro” to “it’s going to zero.”

Time will tell who’s right and who got it wrong.

1. Tim Draper: 250k

Video: Bitcoin price target: Bitcoin will reach $250K by the beginning of 2023: Billionaire Tim Draper

Renowned venture capitalist Tim Draper has confirmed his $250,000 Bitcoin price target on several occasions, including the interview linked above in which Tim Draper reaffirmed his expectation of quarter-million-dollar Bitcoin by the end of 2022 or the beginning of 2023.

Tim Draper was an early investor in Bitcoin and shared his thoughts on expected mainstream adoption while at the Bitcoin 2021 conference. The always-upbeat billionaire sees a future in which consumers can spend Bitcoin on everyday items, replacing fiat currency that loses value.

At the time of the interview, Bitcoin was trading at $36,900. Later in 2021, Bitcoin reached an all-time high of $68,000.

2. Gareth Soloway: $9k

Video: 2023 will be a rollercoaster year, Bitcoin to $9k and gold to shine

While remaining long-term bullish on Bitcoin, renowned technical trading expert Gareth Soloway sees Bitcoin as low as $9,000 when reading his charts. Gareth has also detailed his plans to dollar-cost average as Bitcoin swoons, stuffing more BTC in his bags for an inevitable runup that he also expects.

In the interview, he compared recent crypto-industry shenanigans, such as the misguided moves that led to the collapse of FTX, to Wall Street’s financial fumbles that brought us the 2008 financial crisis. He then chronicled the timeline following the Lehman moment, suggesting that Bitcoin, similar to stocks, may take six more months to reach a bottom following such an event.

To his credit, Gareth Soloway’s $9,000 target remains closer to today’s Bitcoin price than some of the predictions we’ll highlight throughout the article.

3. PlanB: $100k

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PlanB, a former institutional investor with an audience of over 1.8 million Twitter followers, is known for technical analysis.

To plot a future course for BTC, he used stock-to-flow, a model that examines scarcity, perhaps a good fit for Bitcoin’s 21-million coin limited supply. PlanB then compared the expected trajectory using logarithmic regression, a price-prediction method that plots prices on a curve that ascends more gradually over time, painting price peaks and valleys within ascending and widening rainbow bands.

Plotting both stock-to-flow and logarithmic regression on a number-go-up chart, both prediction models trace a similar path, pointing to $100,000 Bitcoin in 2023, according to PlanB.

Skeptics of a simple stock-to-flow model in a Bitcoin price prediction context say the model focuses on scarcity but does not consider demand, a still-unknown variable. However, demand follows a similar trend line thus far, according to Jurrien Timmer, director of global macro at Fidelity.

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Looking Back at Top BTC Price Predictions for 2022

Predicting the future price of a digital asset as volatile as Bitcoin isn’t easy, but that doesn’t stop some within the crypto and finance worlds from trying anyway. By early 2022, we were off to a rocky start with crypto assets, making price predictions even trickier for the industry’s tea-leaf readers.

1. Anthony Pompliano: $100k to $250k [Wrong]

In a recorded audio message, Anthony Pompliano (Pomp), voiced his expectations that we’d ring in the new year of 2022 with $100,000 Bitcoin (base case), with a possibility of reaching $250,000 Bitcoin. Pomp cited growing demand while also discussing historical performance as it relates to Bitcoin halving cycles.

Needless to say, Pomp missed the mark on this guess, but perhaps just on the time frame. Every new year brings a new opportunity for redemption.

2. Gareth Soloway: $12k [Wrong]

Video: Stocks, Bitcoin will erase all gains since 2020 by year-end - Gareth Soloway

In an interview with Kitco News, chart reader Gareth Soloway predicted Bitcoin lows of $12,000 to $13,000. But he was right in saying that we’d fall below $19,000 and even suggested a $3,500 worst-case scenario based on charts and interest rate moves by the U.S. Federal Reserve.

In the same interview, he stated that he’d be accumulating Bitcoin in the teens and continue buying if prices fell further.

3. Peter Schiff: $20k [Right]

Noted gold bug and Bitcoin denier Peter Schiff, tweeted his thoughts on Bitcoin, and he was right. Although many responses to the tweet saw Schiff’s call as a contrarian indicator, Bitcoin went on to lose nearly half its value following the mid-June prediction, dropping below $16,000 in November.

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Ultimately, Peter Schiff doesn’t see a use for Bitcoin, dismissing it as “nonsense,” and expecting Bitcoin to go to zero eventually.

Price discovery takes both bulls and bears, and at least in the short term, this bear called it right.

4. Jack Mallers: $100k [Wrong]

Video: Jack Mallers & Bitcoin vs The World!: Full Interview

Jack Mallers is the colorful and spirited CEO of Strike, an instant payments network powered by the Bitcoin Lightning Network. In an interview with Anthony Pompliano, Mallers put a six-figure target on Bitcoin by year-end 2022, expecting the price to top $100,000 on the way to $400,000 and higher.

Instead, as of this writing, we’re trading at less than a fifth of that prediction. However, Mallers isn’t swayed by the short-term volatility of Bitcoin. As one of the leading voices for a new generation of Bitcoin hodlers, he does an excellent job of explaining how we might benefit by taking a long view.

To Sum It Up

The guessing game of predicting Bitcoin prices is a bit like betting where the roulette ball will land. Getting it right is probably more luck than skill due to myriad possibilities and external factors. A more sage approach may be to keep your eyes on the distant horizon, taking a long view. If we’ve learned anything from Bitcoin’s history, it likely will be a wild ride.

Frequently Asked Questions

  • How much will Bitcoin be worth in 2025?

    Expand to learn more

    According to Changelly, industry experts expect the price of Bitcoin could rise as high as  $62,624.51 in 2025. Prices can vary based on a number of factors, including adoption rates, competing assets, economic conditions, and government regulations.

  • What is the BTC projected worth in 2030?

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    Cathie Wood of Ark Invest puts a $1 million target price in Bitcoin by 2030. Arthur Hayes, the former CEO of BitMEX, shares this same price target. As with all investments, exact prices are difficult to predict, however, and Bitcoin’s 2030 price may be higher or lower than projected by industry analysts.

Contributors

  • Avatar of Eric Huffman

    Eric Huffman is a staff writer for MilkRoad.com. In addition to crypto and blockchain topics, Eric also writes extensively on insurance and personal finance matters that affect everyday households.

  • Avatar of Gary Anglebrandt

    Gary Anglebrandt is a US-based editor, copywriter, and communications consultant with a background in business and international news. Beyond the US, he has worked from Seoul and Beijing, and continues to work with professionals based around the globe.