The price of Bitcoin (CCC:BTC-USD) continues to be a hot topic among crypto traders and a new prediction is sure to please them.
Jurrien Timmer, the director of global macro at Fidelity Investments, believes that BTC still has plenty of steam left in it. His new prediction calls for Bitcoin to reach a price of $100,000 by the time 2023 gets here.
If his prediction holds true, it would mean a massive increase in price for Bitcoin. The crypto is currently trading at $56,894.80, which has Timmer predicting an upside of about 76% for the token.
According to Timmer, the recent surge in BTC prices doesn’t have to do with momentum traders. Instead, he believes it’s an organic movement with sustainability. If Bitcoin traders are lucky, that means we won’t see a pullback bring the crypto back down.
InvestorPlace’s own Luke Lango believes that Bitcoin has the power to push even higher than Timmer’s price prediction. He expects the crypto to hit $100,000 by the end of the year and reach a value of $500,000 in the long run.
Other traders of the crypto are hoping for the same, if not more. Many of them have taken to social media lately to lay out their own price predictions for Bitcoin. That comes as the cryptocurrency moves closer and closer to a new all-time high.
BTC was up 1.9% over a 24-hour period as of Wednesday afternoon and is up 96.5% since the start of the year.
Crypto traders looking for more hot news will want to keep reading!
We’ve got all the most recent crypto news that investors need to know about today. Among that is seven cryptos that could soar in Q4, price predictions for Floki Inu (CCC:FLOKI-USD), as well as a case for Cardano (CCC:ADA-USD) to rise in the near future. You can learn all about these topics by following the links below!
More Hot Crypto News for Wednesday
- 7 Cryptos That Will Soar in Q4 as Institutional Acceptance Bursts Open
- Floki Inu Price Predictions: How High Can Pupcoin Frenzy Take the FLOKI Crypto?
- Cardano’s Investments In DeFi Building Case for Massive Upside Ahead
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.