The Bitcoin (BTC) community is split on whether the price of the token will go up or down in the coming year. Most analysts and technical indicators say it could drop to a low between $12,000 and $16,000 in the coming months. This goes along with a volatile macroeconomic environment, stock prices, inflation, Federal Reserve data, and (at least according to Elon Musk), a possible recession that could last until 2024.
On the other hand, influencers, BTC maximalists, and a variety of other fanatical “shills” say that its price could skyrocket to $80,000 and beyond.
Related: Tesla, under Elon Musk, held onto $218 million worth of bitcoin in Q3.
Daniel O’Keeffe is a copywriter and PR expert for Web3. In 2013, he started investing in Bitcoin. He used to work as a compliance analyst for J.P. Morgan and State Street for three years (NYSE:STT). He has a law degree from the University of Limerick and a master’s degree in computer science from University College Dublin.