A Finder.com poll reflected the confidence of fintech and crypto industry participants that the price of bitcoin (BTC) will peak at $81,680 this year and then fall to $65,185 by the end of the year.
Morpher trading platform CEO Martin Froehler, who gave one of the most optimistic year-end forecasts for BTC, commented on his stance:
Political uncertainty, inflation and the ever-increasing desire to own assets outside of government control will push bitcoin to new all-time highs.
Offering a more cautious prediction, Asher Tan, CEO of cryptocurrency trading app CoinJar, put forward a theory that BTC will peak at $60000 this year.
There is a lot of uncertainty about bitcoin’s short-term prospects. Given the macroeconomic headwinds, I wouldn’t be surprised to see bitcoin fluctuate between $30-60 thousand for an entire year. Such conditions are terrible for traders, but good for hodlers,” Tan said.
Notably, half of Finder’s panel of 35 industry experts said they think bitcoin will eventually lose popularity to another coin.
Jeremy Chea, an associate professor of decentralized finance at Nottingham Trent University, was among those who think bitcoin’s days as a leading cryptocurrency are numbered. This will happen because the coin “consumes too much energy and suffers from interoperability and scalability issues.”
32% of panelists expressed the opinion that BTC should move from the more energy-intensive Proof of Work (PoW) model to the Proof of Share (PoS) model. And only 9% said they believed BTC would actually make such a move.
Overall, 67% of respondents said BTC is still a good buy. 24% of respondents believe that users who already own BTC should not sell them.