They comment that it is reasonable to see the price of Bitcoin above 40,000 USD by the end of 2023

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They comment that it is reasonable to see the price of Bitcoin above 40,000 USD by the end of 2023

Nicolás Litvinoff, Argentine economist and Director of Estudinero.org, spoke to Cointelegraph in Spanish about the price of Bitcoin, and clarified that it is very difficult in his opinion to give an exact prediction of the price where BTC will end this year.

For his part, Litvinoff mentioned that the most reasonable thing to say is that, due to the increase registered throughout the year, it could still increase by one percent, “between 15-20%” for December.

In this sense, he commented as follows:

“We can talk about a closing of bitcoin at 40 thousand or more at this level, if that logic applies or that growth accelerates in December, which sometimes happens and reaches 45,000 USD. That is futurology, but they can reasonable scenarios as long as the context is right.

In his opinion, those would be reasonable numbers. However, the economist did not fail to consider a contrary scenario where there may also be some profit taking and test ceilings that were difficult to overcome before, as in the case of 30,000 USD. “Everything seems to be aimed at the levels, but of course, if the Bitcoin spot ETF is tested before the end of the year, this analysis will be outdated and there we will have a more significant increase,” he said.

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Finally, with respect to 2024, he added that if the Bitcoin ETF is approved, a period dictated by half a year, where, according to the cycle theory – he explained – it should be positive for the price. “In terms of price, I believe that next year it should break past historical highs and find 103,000 USD, but in 2025 it will mark highs and end that bullish cycle of highs , as long as the cycle theory continues to be fulfilled” , he concluded.