Previous prediction from Carol Alexander, a professor of finance at Sussex University hit the truth that bitcoin would slip to $10.000. As the prediction was not that far, in 2023, she believed that cryptocurrency might gain. However, she added that the reasons could be beyond expectations. Moreover, there would be more domino effects from the fall of FTX, said Alexander. If the effects occurred it means that bitcoin might reach $30.000 in the first quarter. Plus, it might also reach $50.000 by quarters three or four.
In the media, she said that in 2023 there would be a managed bull market but not a bubble. So, the price might not overshoot like before. Thus, she argues that in a month or two the stable trending prices interspersed with range-bounded periods. Thus, there might be some short-lived crashes. Based on this analysis, trading volumes evaporate with traders on edge. It means that large holders or ‘whales’ would step in to prop up the market. River Financial, a fintech firm said that the wealthiest 97 bitcoin wallet addresses account for 14.15% total supply.
However, many investors quit predicting the price of bitcoin. The CEO of crypto lending platform, Nexo, Antoni Tranchev said that the recent events are sober. He noted that in the early 2022 bitcoin was on the positive path. However, later major forces come to interfere. Previously, Trenchev predicted that bitcoin surged to $100.000 early 2023. Currently, he gave up predicting the price. Meanwhile, AJ Bell financial analyst, Laith Khalaf said that predicting attempts on bitcoin price is useless.