As with the global economy as a whole, there is a lot of pessimism in the crypto market right now. However, the crypto market has been particularly hit by developments such as the FTX crisis and the collapse of the Terra ecosystem. In this article, we look at the question of whether Bitcoin (BTC) will rise again and what 13 famous people think about the future of the market. Here are the details…
Peter Brandt: Worst case Bitcoin drops to $10,350
Peter Brandt is a legendary trader in the crypto market. In many cases, he made a correct guess. One particular point worth mentioning is that this is the first time a bear run has pushed prices below the high of the previous bull run. Brandt predicted that in the worst case, Bitcoin could drop to $13,800, or worse, to $10,350. This isn’t the most fun guess.
But it’s something to keep in mind as Brandt has been known to make one or two correct guesses. Of course, this is just a guess, many things could change the course of the market. Brandt is also known for being open-minded enough to realize that he might be wrong.
Satoshi Stacker: FTX crash won’t stop Bitcoin
Satoshi Stacker is a very well known crypto trader who has been around for years. The analyst believes that Bitcoin is on the path to growth again, citing past examples where Bitcoin was considered “dead”. He thinks that Bitcoin will go anywhere and that even the collapse of FTX and the Terra ecosystem collapse will not stop it for long. He does not say when or how quickly the market will rise, but states that it will inevitably happen.
IvanonTech: Market crash, start of a new chapter
IvanOnTech is another popular crypto YouTuber who has had a significant impact on the market. While he doesn’t say much about where he thinks the market is heading, he believes the market has a lot of room to grow in the near future. His thoughts are similar to Binance CEO Changpeng Zhao, who believes the market crash is “the beginning of a new chapter.” This is a sentiment shared by other traders in the market as well.
Jason Pizzino: We may see bottom in December
Popular crypto YouTuber Jason Pizzino says that Bitcoin’s 3-wave pattern is something to note. He is a little more reserved in his judgment of the future of cryptocurrencies. He focuses his attention on aspects like percentage movements, dollar movements, and the fact that a global recession seems to be taking shape right now. He said that already, a bottom may appear in December, but Bitcoin will bounce back strongly after it.
CryptoBanter: The potential continues in Bitcoin
CryptoBanter also offers some insights into where the market might go. They say that around $16,000 Bitcoin may still have some potential at its current levels. If it continues upwards, Bitcoin could have a relatively high dominance in the market. Essentially, he believes that Bitcoin is the safer asset in the current climate. He’s more inclined to believe that Bitcoin has bottomed and can pull it up, but isn’t entirely sure.
Ark Invest expects a rise in the long term
Ark Invest founder Cathie Wood is a famous cryptocurrency investor. According to his company’s analysts, Bitcoin has the opportunity to surpass the $1 million price tag by 2030. However, it is worth noting that this analysis was done in early 2022. Bitcoin has since lost more than half of its value.
Mike Novogratz points to lack of capital in Bitcoin
Galaxy Investments CEO Michael Novogratz says he doesn’t think Bitcoin will surpass $30,000 anytime soon. Known to be a long-term Bitcoin bull, Novogratz’s lack of institutional capital is behind this thinking.
Elon Musk: Bitcoin will survive the crypto winter
Elon Musk, who is well-known in the crypto money field, was also one of the names that attracted attention with his Bitcoin comment. Although Musk supports Bitcoin, he thinks that the BTC network working with the proof-of-work (PoW) consensus mechanism is damaging the ecosystem due to its intense energy consumption. As we reported as Kriptokoin.com, Musk said in a Twitter Space broadcast he participated in that BTC would survive the crypto winter.
Warren Buffett: I wouldn’t buy BTC even if it’s $25
Warren Buffett, one of the richest investors in the world and the founder of Berkshire Hathaway, is known for his negative attitude towards cryptocurrencies. Buffett never hid his critical stance on cryptocurrencies. Buffett stated that he would not buy Bitcoin, even if it was $25.
Jack Dorsey is known for his belief in BTC
On the other hand, Twitter founder Jack Dorsey is one of the Bitcoin supporters. Dorsey is the co-founder of Block Inc, focused on cryptocurrency payments. Dorsey believes that BTC will become the world’s currency.
Jim Wyckoff: We’re bottoming out in the short term
Jim Wyckoff talked about the resilience of Bitcoin bulls in his recent posts. “BTC bulls have stabilized prices after hitting a two-year low last week,” he said. However, Wyckoff used the following statements:
As BTC bears still generally have the short-term technical advantage, they need to stay resilient if they want to continue to go higher. However, the recent sideways price action on the daily chart offers little support for the bulls to begin to suggest that a short-term market bottom is in place.
Mark Mobius: Bitcoin could drop 40 percent
Mark Mobius, co-founder of Mobius Capital Partners, warned during an interview that the best crypto could still drop 40% from its current price. According to investment legend, his next target for Bitcoin is $10,000, which represents a drop of just over 40% from its current price of $16,450. He also stated that he would not invest his own money or client money in crypto assets because it was “too dangerous.” “It is unbelievable that Bitcoin prices have held up this long,” he said despite the FTX crisis.
Willy Woo: Maximum pain level
Finally, Mobius’ price prediction largely coincides with popular on-chain analyst Willy Woo’s prediction that if Bitcoin goes bearish, there is the “maximum pain” level. Woo’s chart also points to a further decline in BTC.
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