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Bitcoin Price Predictions: How Much Will Tesla’s Paper Hands Hurt BTC?

  • Bitcoin (BTC-USD) price predictions are worth checking on today as the crypto sinks.
  • This follows news of Tesla (TSLA) selling 75% of its BTC.
  • However, it looks like that won't keep Bitcoin from rising higher over the next year.
Bitcoin tokens on a motherboard representing BTC.. Bitcoin price predictions.

Source: Momentum Fotograh / Shutterstock.com

Bitcoin (BTC-USD) price predictions are a hot topic on Thursday as traders wonder where the crypto is heading on recent news from Tesla (NASDAQ:TSLA).

BTC is falling today as trading volume for the crypto decreased 18% over the previous 24 hours. Tesla is likely partially to blame for that following an update on its Bitcoin holdings in its most recent earnings report.

According to its earnings report for the second quarter of 2022, Tesla sold off 75% of its Bitcoin holdings. Elon Musk, founder and CEO of Tesla, said this wasn’t a verdict on Bitcoin. Instead, he justified the sale as necessary to increase Tesla’s liquidity amid Covid-19 lockdowns in China.

While Musk is still remaining positive on crypto, the recent news has some investors wondering what the future holds for Bitcoin. Let’s go over that with the latest price predictions below!

Bitcoin Price Predictions

  • Gov Capital kicks off our estimates for BTC with a price of $53,539.61 one year from now.
  • WalletInvestor is next on our list as the publication holds a one-year forecast of $36,392.80 per coin.
  • DigitalCoinPrice closes out our Bitcoin price predictions with an average estimate of $33,771.98 for 2023.

So how’s the future of Bitcoin looking according to these price predictions? Bright, when you consider the crypto was trading for $22,929.29 as of this writing. Also, BTC is down 4.7% over the prior 24-hour period.

Crypto traders looking for more market news will want to stick around!

InvestorPlace offers up all of the latest crypto coverage you need to know for Thursday! That includes what’s going on with Vauld, a breakdown of blockchain, as well as the newest Binance (BNB-USD) news. You can find all of that at the links below!

More Thursday Crypto News

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.


Article printed from InvestorPlace Media, https://investorplace.com/2022/07/bitcoin-price-predictions-how-much-will-teslas-paper-hands-hurt-btc/.

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