Eric Voorhees offers $40K BTC by June, but little consensus among experts

Over the past few weeks, there has been little agreement among Bitcoin commentators, with cryptocurrencies, research analysts, and billionaire investors offering wildly different takes on what to expect for Bitcoin for the year ahead.

A cryptocurrency exchange founder expects Bitcoin (BTC) to reach $40,000 by summer, while a Bitcoin billionaire has renewed his BTC price forecast of $250,000 for the year.

Eric Voorhees – $40,000 “in the summer”.

Eric Voorhees, founder and CEO of cryptocurrency exchange ShapeShift, was optimistic about a potential recovery in Bitcoin’s price during an interview with Bankless on January 2, saying he “wouldn’t be surprised” if Bitcoin (BTC) reached “like $40,000.” by “summer”.

Voorhees noted that if his prediction comes true, it would be “2.5X” from the current price of $16,666, which he said is a “huge return.”

The cryptocurrency chief couldn’t pinpoint the timing of the next bull run, saying only that it would be in the next “six months to three years.”

He stopped short of thinking it could take up to “10 years” but claimed it would mean “everything” if it happens. […] probably failed.”

Looking ahead, Voorhees said the macro environment, interest rates and tightening monetary conditions are big factors in how the cryptocurrency market will play out this year.

He also admitted that the cryptocurrency’s reputation from outsiders is “just garbage,” but that those commentators will also “turn a blind eye” when the next rally happens.

Whether we’re in a bull or bear market, “we’re in the middle of a revolution right now,” Voorhees said.

Tim Draper — $250,000 through April 2024

Meanwhile, Bitcoin billionaire investor Tim Draper continued to debunk his $250,000 Bitcoin prediction through his latest Twitter post on January 1st, and even showed it printed on a T-shirt.

Draper first made his bold $250,000 Bitcoin price prediction in April 2018 during a speech at his Draper University in San Mateo.

At the time, he said he was looking into what he described as a “crystal ball” and “thinking” $250,000 per Bitcoin by 2022.

Draped said people would think those who believed the prediction were “crazy”, but assured his audience that it would happen and that it would be “awesome”.

In his most recent tweet, Draper admitted that his “$250,000 by 2022” forecast was “off a bit” but said he believed it would “definitely” happen before the Bitcoin halving, which is set for April 2024, according to Coinmarketcap.

His bullish prediction was met with mixed comments from one user on Twitter tweet Celsius says they ‘lost interest’ in Bitcoin price after stealing ‘one bitcoin’ from them else “You have high hopes,” tweeted another predicted He said it was “very difficult” to even get above $30,000 in 2023.

Mike McGlone — $100,000 through 2025

Draper’s comments may seem especially bullish even among Bitcoin supporters.

In September, Bloomberg Research Chief Commodity Strategist Mike McGlone — who has been bullish on Bitcoin’s future in the past — saw the cryptocurrency reach just $100,000 by 2025.

He made this prediction once before, in an October 2020 interview, where he said that Bitcoin was “on track” to reach $100,000 by 2025. A year later, he stood by that prediction in an interview with Kitco News, saying it was only a “matter of time” before he got to “$100,000.”

According to him, the reason for this is that the supply is still “reducing”, while the acceptance and demand are “still increasing”.

Standard Chartered — $5,000 in 2023

In December, UK-based banking company Standard Chartered predicted that Bitcoin could fall to $5,000 in 2023.

According to a Dec. 5 report by CNBC, rising earnings and falling tech stocks could lead to an acceleration in Bitcoin sales, which could lead to more bankruptcies and crashes in the cryptocurrency and lower investor confidence in the digital asset.

However, the author of the investor note, Eric Robertsen, the firm’s global head of research, noted that this was an extreme forecast that deviated from his initial views and market consensus.

Related: Bitcoin Jack: “I’m trying to think more about when than where” for Price

While some cryptocurrency industry insiders are confident enough to share their Bitcoin predictions for the coming years, others have been more cautious in sharing their thoughts on the subject.

Antoni Trenchev, co-founder and managing partner of digital asset management platform Nexo, recently explained to Cointelegraph that there are “many factors” that can affect the price of Bitcoin.

“Bitcoin is a completely unpredictable asset,” Alex McCurry, CEO and co-founder of blockchain solutions provider, told Cointelegraph on January 3rd.

Best-selling author Rich dad, poor dad, Robert Kiyosaki has not made any price predictions in recent months, even though he frequently posts about Bitcoin on his Twitter page.

In December, Kiyosaki said he was “very excited” that Bitcoin is classified as a commodity, like gold, silver and oil, unlike other cryptocurrencies, which he said are classified as securities.