According to a panel of fintech and crypto industry members surveyed by benchmarking website Finder.com, Bitcoin will hit $81,680 this year and then drop back to $65,185 by the end of the year.
While the $80,000 peak is described as "significantly higher" than the current Bitcoin price, it's 15% lower than Finder.com's year-end price forecast of $76,360 in January.
Martin Fröhler, CEO of trading platform Morpher, commented, giving one of the most positive price predictions for BTC:
“Political uncertainty, inflation, and increased willingness to buy non-government-controlled assets will allow Bitcoin to hit new all-time highs.”
In a more cautious forecast, Asher Tan, CEO of crypto trading app CoinJar, said that BTC will peak at $60,000 this year.
“There is a lot of uncertainty regarding the short-term outlook for Bitcoin. It won't come as a surprise to me to see Bitcoin hovering between $30-60k throughout the year, given the macroeconomic hurdles. While these conditions are bad for traders, accumulation over several years' timeframes It will be rewarding for those who do.”
Half of the participants in the Finder panel of 35 “industry experts” said they believed it would eventually replace Bitcoin as the most popular cryptocurrency.
Jeremy Cheah, a professor of decentralized finance at Nottingham Trent University, who is among those who say that Bitcoin has a number of days as the number one cryptocurrency, said that "the coin consumes a lot of energy and has interoperability and scalability issues."
Meanwhile, 32% of panelists think BTC could move from a more energy-intensive proof-of-work (PoW) model to proof-of-stake (PoS). However, only 9% said they believed BTC would actually make such a move.
In summary, 67% of respondents said that even though their price predictions are lower than their January prediction, BTC is still profitable. While 24% of respondents said that users who already own BTC should not sell, 9% said that BTC holders should sell their coins.