Experts predict a drop in BTC to $13,000 by the end of the year
The experts of the Finder platform (53 people) made a not very optimistic forecast about the bitcoin exchange rate at the end of the year, predicting it to fall to $ 13,000
Almost all respondents are sure that crypto-winter reigns in the markets, with 77% claiming that it has just begun. 15% are not sure that crypto-winter has come, and 8% believe that it does not exist at all.
Experts have different opinions about the reasons for the market decline, but most agree that the main reason was the increase in interest rates around the world. Among other reasons, the collapse of Terra (LUNA), the reduction of balance sheets and uncertainty caused by geopolitical tensions were noted.
"The current cryptocurrency market is suffering due to high interconnectedness and lack of proper regulation. Numerous dubious DeFi and CeFi projects that cannot work properly indicate the weakness of the market," says Dimitrios Salampasis
Over the past month, several crypto projects have suspended withdrawals, defaulted on loans and fired employees. Asher Tan from CoinJar noted that the low rates are a combination of these factors and it will take many months for the dust to settle.
29% of respondents believe that the crypto-winter will last until the first half of 2023, and 17% think that it will end in the second half of the year. Only 12% believe that a market reversal will occur within a few months, and 5% predict a protracted crypto winter until 2025.
It is worth noting that many survey participants are confident in the need for cryptozima, as it will help weed out unscrupulous players and create conditions for the appearance of products that will increase confidence in the crypto sector. In addition, most respondents consider the bearish mood in the market to be temporary and the future halving of bitcoin will help to return the course to a historical maximum.
Financial expert Lee Smales believes that bitcoin is dying a slow death, as investors continue to get rid of risky assets, and Professor Carol Alexander said that BTC is just speculation and it is not suitable for Web3 development.
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