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Friday, February 3, 2023

Erik Voorhees Optimistic

The CEO and founder of crypto exchange ShapeShift, Erik Voorhees, has predicted that BTC could achieve a price of $40,000 by 2023. Mr. Voorhees said in an interview with Bloomberg News on Friday that the slow adoption of cryptocurrencies is similar to the early days of the internet in the ’90s and early 2000s.

In the last three months, BTC has been on a steady climb to its yearly high of $8,550, which was achieved on April 2. At press time on Friday, BTC/USD is trading at $7,978.15 with a 24-hour loss of 0.68%.

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In an interview with Bloomberg News, ShapeShift CEO and founder Erik Voorhees predicted that Bitcoin (BTC) could reach $40,000 by 2023.

Erik Voorhees Speculates Big Things For BTC

The prediction was made as part of a broader discussion about the future of cryptocurrencies and blockchain technology.

When asked to make predictions on where crypto is headed next, Voorhees said: “I think we’re going to see Bitcoin rise again. I think we’re going to see it touch $10k this year; I think we’re going to see it touch $20k by the end of 2023; but ultimately what I believe will happen is that Bitcoin will one day be worth tens of millions or even billions.”

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In the last three months, BTC has been on a steady climb to its yearly high of $8,550, which was achieved on April 2. At press time on Friday, BTC/USD is trading at $7,978.15 with a 24-hour loss of 0.68%.

In what may be a sign that bitcoin is finding support in the mid-$7k range, crypto traders have been more bullish than bearish in recent weeks. On April 15th and 16th alone—the first two days after BTC broke above $7k—over 60% of all market makers were long positions.

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