- ShapeShift CEO Erik Voorhees predicted that BTC would hit $40k by June 2023.
- Tim Draper sticks to his prediction of $250,000 BTC before the next halving.
- The current rate is 75.66%, down from its all-time high.
When Bitcoin hit $68,789.63 in 2021, everyone was excited, and some even predicted a better run for the market in 2022. But all the projections went horribly wrong as the coin dropped by roughly 60% last year. As the new year arrived, ShapeShift CEO Erik Voorhees feels BTC might hit the $40,000 mark this summer, currently trading at $16,716.48.
Looking at the yearly patterns of the crypto’s leading currency, it has been down every third year after two consecutive profitable years. So if history repeats itself, maybe in 2023, BTC can have a rally. However, looking at the current situations regarding upcoming regulations, ongoing crypto winter, FTX collapse, etc., it is skeptical.
Source: https://www.thecoinrepublic.com/2023/01/03/bitcoin-to-hit-40k-by-june-2023-erik-voorhees/