As with traditional markets, sentiment among its investors shifts as the cryptocurrency market fluctuates. In this uncertain environment, experts are sharing their predictions for XRP, SHIB and Bitcoin.
Is it possible for XRP price to reach $5 in 2023?
According to Sudhir Khatwani, founder of crypto industry think tank The Money Mongers, XRP has the potential to reach the $5 mark by 2023 due to renewed optimism. But it is also likely to witness a “significant price correction” due to the volatility factor.
Jake Hill, CEO of DebtHammer, sees the XRP price reaching $5 as a low chance. However, it is not completely impossible. “This court order is definitely a win for the cryptocurrency world,” Hill said. But it is not an automatic ticket for the price of XRP at the price of $5. That’s roughly a 900% increase. That’s a pretty high rate for any asset… Factors can easily move XRP to $5 and beyond in the right conditions,” he says.
Meanwhile, Carter Seuthe, CEO of Credit Summit Consolidation, does not share his colleague’s optimism about the price of XRP in 2023, especially given the token currently correcting below the $1 level. Instead, he believes such growth will have a chance to happen gradually over the next few years.
Finally, Ben Michael, an attorney at Michael & Associates, describes the recent court decision in the Ripple case as “incredibly strange.” Because he states that “XRP can be treated like a security for institutional investors, but not for individual investors.” This leads to more questions and answers than him. He is also pessimistic about XRP’s chances of reaching $5 in 2023.
AI sets SHIB price for August
As you follow on Kriptokoin.com, the fluctuations in the cryptocurrency market continue. Despite this, the price of the Shiba Inu (SHIB) has been performing sluggishly over the past few weeks. While other altcoins witnessed significant gains, the Shiba Inu’s value remained relatively stable. However, crypto analytics platform PricePredictions predicts a slight uptrend for SHIB in the near future. It points to slightly better days ahead for those who hold the SHIB. According to PricePredictions, SHIB will trade at $0.000007828 on August 25, 2023. This price projection means a possible increase of about 0.7% compared to the current price of SHIB.
SHIB 25 August 2023 price projection. Source: PricePredictions29 financial experts set BTC price for the end of 2023
The past month Bitcoin (BTC) witnessed a notable price surge fueled by growing optimism about the potential approval of a spot Bitcoin exchange-traded fund (ETF). This development was seen as a potential catalyst for broader institutional crypto adoption. BTC hit a high above $31,400 earlier this month. However, later on, BTC experienced a significant pullback. The current price hovers just above $29,000. 29 financial experts shared their year-end price predictions for BTC. According to Finder.com results, market experts expect BTC to appreciate in the next few months. Accordingly, they predict that it will close the year at $38,488. Meanwhile, experts predict that Bitcoin’s potential peak in 2023 will be around $42,000.
BTC year-end price predictions for 2023, 2025 and 2030. Source: FinderLooking further, the panel of financial experts predicts that the price of Bitcoin will rise to an average of $100,000 by the end of 2025 and above $280,000 by the end of 2030.
Comments of experts on the price of BTC
Tech expert and futurist Joe Raczynski thinks BTC will end the year at $40,000, slightly above the panel average, capitalizing on the increased institutional interest. “We are finally through the darkness of the crypto winter,” Raczynski said. With numerous top financial institutions applying for a Bitcoin spot ETF, pressure is on the SEC to approve. Also, if approved, tens of billions of dollars will be chasing Bitcoin this year,” he says.
Alex Nagorskii of DigitalX says the best-case scenario for Bitcoin is $35,000 by the end of 2023. It also predicts that it will rise to $65,000 by the end of 2025. “Bitcoin is on the verge of entering the halving narrative, fueled by potential flows from US spot ETFs if approved. “There are several ways this can happen, which will depend largely on SEC spot ETF approval, a series of high-profile stock market lawsuits, and spotting more bad actors in the space.”
Overall, 59% of panelists say they are bullish on BTC. They state that this is a good time to enter the market. In this regard, 33% and 7% recommend holding and selling the cryptocurrency, respectively.
Bitcoin in the ‘unbelief’ phase
As with traditional markets, sentiment among its investors shifts as the cryptocurrency market fluctuates. According to the analyst alias CryptoYoddha, Bitcoin is currently in the ‘disbelief’ phase, which precedes the ‘hope’ phase in terms of the psychology of a market cycle and indicates positive market sentiment.
Bitcoin market cycle sentiment analysis. Source: CryptoYoddhaRecurring patterns for bitcoin
At the same time, the analyst nicknamed Trader Tardigrade highlights that Bitcoin repeats the same price structure as it did in the period from 2013 to 2018, following a certain pattern going from the ‘previous peak’ to ‘peak 1’ and preceded by ‘peak 2’ and ‘retest’ during this period. According to the expert’s chart pattern analysis, the next stage in this structure is the price ‘boom’ that will send Bitcoin to $400,000 in 2026.
Bitcoin price action analysis. Source: Trader TardigradeMeanwhile, analyst nicknamed Stockmoney Lizards says that Bitcoin has just emerged from its third historical cycle in which it reached an all-time high (ATH) of $68,000, and entered its fourth price cycle that could result in a new ATH of $150,000 to $200,000 in the second or third quarter of 2025.
Historical cycles of Bitcoin. Source: Stockmoney Lizards
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