Cryptocurrency Analyst Reveals Bitcoin (BTC) Can Go to $48,000 This Year

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Cryptocurrency Analyst Reveals Bitcoin (BTC) Can Go to ,000 This Year

On Friday (3 August 2023), highly trending New Zealand-based cryptocurrency analyst Lark Davis declared his year-end price target for Bitcoin (BTC) ($BTC).

Reports by data from TradingView, in the year-to-date (YTD) period, the Bitcoin (BTC) price has gone from $16,615 to $23,502, which is a gain of 41.45 percent (vs USD).

Earlier today, Davis informed his one Million Twitter followers that although he does not expect Bitcoin (BTC) to break its record-breaking peak (i.e. around 69,044, which was recorded on 10 November 2021) in 2023, he thinks that the $ Bitcoin price could go as high as $48,000 in the year.

Yesterday, billionaire investor Ray Dalio was interviewed by Andrew Ross Sorkin, co-anchor of CNBC’s Squawk Box. During the interview, Dalio shared his views on cryptocurrency more  traditionally and Bitcoin (BTC) in particular.

“I think it’s been, you know, quite amazing that for 12 years it’s accomplished but I think it has no relation to anything. It’s a tiny thing that gets disproportionate attention,” stated Dalio. “It’s not going to be an effective money. It’s not an effective store hold of wealth. It’s not an effective medium of exchange.”

Dalio thinks that a digital currency that is linked to inflation would be a better option than Bitcoin. “If you created a coin that reveals okay, this is buying power that I know I could save in and put my money and over a period of time and then I can transact in anywhere, I think that that would be a good coin. I do not think Bitcoin (BTC) is it,” he said.

In an op-ed piece for the Wall Street Journal that was released on Wednesday (1 February 2023), Charlie Munger, the billionaire vice chairman of Berkshire Hathaway, the conglomerate controlled by Warren Buffett, wrote that Bitcoin (BTC) should be banned:

Instead, it’s a gambling contract with a nearly 100 percent edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity… The United States should now enact a new federal law that prevents this from happening.

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Featured Image via Pixabay


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