Bitcoin Price Prediction: Experts Summary

Bitcoin Price Predictions

Expert Forecasts

Long-Term Investment Strategies

Written by


Published on

Sep 30, 2023

It is always fun to think about what the price of Bitcoin will be in the future, but what are the “experts” saying?  A higher value for Bitcoin means that more and more crypto adoption is taking place.  As many people know and understand, as the value of Bitcoin goes up, so does the rest of the cryptocurrency market.

Although we have discussed this before, here is a brief summary of how the value of bitcoin is determined.  Bitcoin’s value is determined by supply and demand. If the demand for Bitcoin increases and the supply remains constant, then the price of Bitcoin will go up. Conversely, if the demand for Bitcoin decreases and the supply remains constant, then the price of Bitcoin will go down.  “Supply” is referring to the amount of Bitcoin available on the open market for purchase, not the fixed supply of Bitcoin as an asset. 

There are several factors that can influence the demand for Bitcoin, here are a few major factors:

  • Adoption: As more people start using Bitcoin, the demand for it increases, which can drive up the price.

  • Inflation: Bitcoin is designed to have a limited, finite supply, which means that it is not subject to inflation like traditional currencies. This can make it an attractive investment option for people who are concerned about inflation of their own local currency, or the global market.

  • Market sentiment: The price of Bitcoin can be influenced by market sentiment, which is the overall attitude of investors towards the market. If investors are optimistic about the future of Bitcoin, then the price may go up.

With all of that being said, here are some expert price predictions for Bitcoin:

What individual experts are saying:

Adam Back - CEO Blockstream, Adam Back, stated in August that Bitcoin could hit $100,000 before the 2024 halving.

Robert Kiyosaki - Author and investor,  Bitcoin could hit $100,000 before 2024 halving depending on the US and World economy.  Robert recently said Bitcoin could even soar to $1 million if the world economy crashed.

Cathie Wood - CEO of global asset manager ARK Investment Management, Estimates Bitcoin could be $1 million by 2030 back in June 2023. “Bitcoin is a hedge against inflation” – a view shared by many other experts.

Mike Novogratz - CEO of crypto investment firm Galaxy Digital, said Bitcoin would undoubtedly reach $500,000 in the next five years or so due to its adoption pace and unique features, such as being “tailor-made to being an anti-inflation store of value.”

Tom Lee - Fundstrat Global Advisors co-founder, believes that Bitcoin is heading toward $180,000 by the end of 2024, particularly if the US Securities and Exchange Commission (SEC) approves a spot Bitcoin exchange-traded fund (ETF).

Arthur Hayes - Co-founder of crypto exchange BitMEX, sees $70,000, slightly above Bitcoin’s all-time high (ATH) of $69,045 from November 2021 by the end of 2024. 

Michael Saylor - Former CEO of Microstrategy, predicts that Bitcoin will be over $1 million dollars within the next 10 years. 

What Companies are saying:

Pantera Capital, one of the leading names in crypto asset management, highlighted its bullish outlook for 2024 and projected that Bitcoin could rise to around $148,000 in its next four-year halving cycle if past trends hold.

SeekingAlpha, Investment Research Group, states that Bitcoin is undervalued at $30k and expects it to reach $44k in 2024 and hit a new all-time high in 2025 as it moves above $100k.

Standard Chartered, one of the leading international banks in the United Kingdom that offers Bitcoin and crypto custody in the European Union through its subsidiary, Zodia Custody, has recently boosted its original $100,000 end-2024 forecast for Bitcoin to $120,000.

Lastly, a report conducted by a panel of industry specials including 29 individuals also provided their thoughts on the future price of the digital asset.  Here is a brief summary of their combined estimates: 

End of 2023 - BTC's price is expected to rise between $38,488 to $41,752 as an average by year-end 2023.

End of 2025 - BTC price expected to reach $100,293 (average) by 2025.

End of 2030 - BTC price expected north of $289,159 with high end estimates around $1 million.

You may be asking, but why Dreko? Why would you confuse me with all of these price predictions?  None of the numbers are the same!  Nobody could possibly know the future!

The reason behind these articles is to help encourage people to change their focus, and consider multiple factors from multiple angles.  Sometimes, we get so focused on what is going on right now, that we can not zoom-out and think longer term.  Bitcoin looks to be a very promising long-term investment opportunity based on industry “experts” opinion’s.  The price of Bitcoin at the time of writing this article is approximately $27,000.

The question is, are you bold enough to buy when the price is depressed?  And, are you strong enough to hold onto your investment until it matures?