Here’s a New Bitcoin Price Prediction for BTC to be at $92,000 – $137,000 by October 2023
Currently, the market sentiments are not bullish rather people are looking for the signs confirming if Bitcoin has already bottomed or if not how much close to the bottom BTC is. The market sentiments are very low currently and any positive movement in Bitcoin price is rejected by the bears.
However, it is not keeping the analysts from predicting the next peak. Crypto analyst Philip Swift shares the month and the year for the upcoming all-time high (ATH) based on the combining Bitcoin Network Momentum and Wily Woo's Top Cap, “You can now book in that Lambo test drive for Autumn 2023!”
As the crypto analyst, Willy Woo shared this early in the game, estimating the price is like “trying to catch a ball and closing your eyes while it's still flying upwards.” Nonetheless, it is fun to do so and the next peak would be coming in 2023 that is still more than four and a half years away. But this time, it would be over 4x or even 6x of the last peak.
Philip Swift uses on-chain volume cycles and my Top Cap model to estimate the next BTC ATH at $92k – $137k, Oct 2023.
Doing an estimate so early in the game is like trying to catch a ball and closing your eyes while it's still flying upwards, but nevertheless fun to play with. https://t.co/WpQyMjJwoE
— Willy Woo (@woonomic) March 4, 2019
At the time of writing, the leading cryptocurrency has been trading at $3,781 with 24-hours gains of 0.65 percent. Meanwhile, it is managing the daily trading volume of $8.5 billion.
A Slow & Steady Rise to the Top
If it has been 2017, a figure over $100k would have been laughable but after shooting off to $20k, this is absolutely possible as the predictions for Bitcoin price has gone to even $1 million.
According to the analysts from Canaccord Genuity Capital Markets, this time Bitcoin would slowly make its way to $20k in March 2021.
“Looking ahead, if bitcoin were to continue following the same trend as in the years 2011-2017, the implication is that bitcoin would be bottoming approximately now and would soon begin climbing back towards its all-time high of ~$20,000, theoretically reaching that level in March 2021,”
wrote Michael Graham and Scott Suh of Canaccord Genuity Capital Markets.
— girevik (@girevik_) March 4, 2019
It’s not all vague as according to these analysts there are numerous tangible catalysts working in favour of Bitcoin viz. improvements in scaling, growth in emerging market countries and “institutional custody solutions are expected to launch in the first half of 2019, led by Fidelity Digital Assets,” that would propel the price of Bitcoin this year.