Would you like a bitcoin forecast? The events of the last few weeks have taken their toll on the crypto market. Will Bitcoin be harmed by this in the long term? We asked around.
Anyone who dares to make a Bitcoin forecast is mostly on uncertain ground. Events like the debacle surrounding the FTX crypto exchange often occur unexpectedly and affect the entire crypto market. Price increases, geopolitical imbalances and general uncertainty are doing the rest to depress prices. What does this tell us for a bitcoin forecast?
Bitcoin forecast: Sometimes it takes foresight
The basic idea behind Bitcoin was to provide a decentralized monetary system. Decentralized means doing without intermediaries, i.e. without mediating authorities. Theoretically, this works. But in practice, users still fall back on centralized exchanges. If you then fail to keep your coins safe, you may lose out and lose them. For example, because the stock exchange owners gamble them away or the security infrastructure is so miserable that they can be stolen. This is not due to any technological problems with Bitcoin, but to the providers themselves.
The value proposition behind Bitcoin of providing a decentralized monetary system is basically unaffected by such things. Die -hard crypto fans also view BTC more as a store of value – they believe in the cryptocurrency’s long-term success and keep stacking satoshis . But why are prices still falling and why is the short-term Bitcoin forecast rather gloomy? The problem: Markets are often irrational and overheat in the short term. The current BTC price slide is due to a panic mood in a market that was already extremely unsettled.
So what are the future prospects? We asked around and took a look at what crypto experts are saying about the medium-term prospects.
Julian Hosp Bitcoin Prediction: “Sideways or Down”
Crypto influencer Julian Hosp sees several scenarios for the coming year. His Bitcoin Prediction 23: We could move sideways or down. But the crypto expert does not want to rule out the chance of new all-time highs either. In his opinion, the further development depends on the US central banking system and its monetary policy. To this end, he explains to BTC-ECHO:
The things I’m primarily observing are: The FED will become less and less relevant unless, even if it’s very unlikely, it’s going full throttle with quantitative easing. i.e. Red: expansionary monetary policy]. Then we see the chance of a new ATH at BTC. The two most important factors will be unemployment figures and the housing market. If they hold, then the Bitcoin price will also hold. If these become problems, then we see much lower BTC prices. In the unlikely scenario of World War 3 happening, I wouldn’t bet on bitcoin. Personally, I expect more of a sideways or down year for Bitcoin, but not as drastic as 2022.
Michael Saylor: “FTX is expensive advertising”
Let’s jump overseas to perma bull Michael Saylor. He makes a clear distinction between Bitcoin and the crypto sector. In his opinion, the FTX disaster and the subsequent crash was “expensive advertising for Bitcoin”. While the crypto industry is currently unethical, unsound and irresponsible, the only possible future for cryptocurrencies is to create a regulated environment. According to Saylor, the long-term Bitcoin forecast is good.
Justin Sun and Nayib Bukele stack BTC
Meanwhile, the heavily disputed President Nayib Bukele is undeterred in his bet, emptying the Salvadoran treasury to fill it with BTC. His Twitter announcement on November 17: “We will buy one bitcoin every day starting tomorrow.” Tron CEO Justin Sun follows in a snap:
Investment punk: “Don’t buy crap.”
Gerald Hörhan, better known as an “investment punk”, finds clear words for the current situation. He also sees the FTX disaster as fatal. But his long-term Bitcoin forecast is also good. He explains to BTC-ECHO:
The FTX Causa was the Lehmann moment of the crypto industry. Massive scam. The prices of BTC and ETH have remained reasonably resilient given what happened, even the Gemini Causa had no significant impact.
Is Crypto Dead? Definitely no. When everyone is saying “the market is dead,” it’s usually not a bad time to get started. It is best to use accelerated savings plans, because there is still downside potential in the short term. We are in for a harsh crypto winter, but after every winter comes a summer. But be careful: don’t buy crap. 90 percent of all crypto projects and more than 95 percent of all NFT projects will disappear from the market and never see another summerGerald Hörhan, investment punk
Bitcoin forecasts: Always without guarantee
A little hopium will do little harm to the tormented crypto fans out there. But here too it must be added: Bitcoin forecasts should always be treated with caution. We still haven’t found the magic crystal ball.
