Elon Musk Has Issued A Surprise 2023 Bitcoin And Dogecoin Prediction After Huge FTX Crypto Price Crash
Bitcoin
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Bitcoin prices, down more than 70% since this time last year, crashed to below $16,000 per bitcoin over the weekend after the CEO of the world’s largest crypto exchange Binance issued a dire warning about another exchange.
Now, in response to a Twitter question asking where the bitcoin price will be in a year, Tesla billionaire Elon Musk has predicted bitcoin “will be fine” – but warned that the bitcoin price could be in for a “long winter ” and added dogecoin’s eventual success “speaks for itself.”
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Tesla CEO and Twitter owner Elon Musk has spoken at the G20 gathering of world leaders in the middle of a … [+]
“[Bitcoin] will make it, but it could be a long winter,” Musk wrote on Twitter early this morning in response to tech investor and All In podcast host Jason Calacanis asks where the bitcoin price will be a year from now.
“Bitcoin is [around] $16,000, down from [around] $69,000 a year ago,” Calacanis wrote on Twitter early Monday morning. “Where will [the bitcoin price] be in another year?”
In response to another commenter suggesting that Musk meant to write dogecoin instead of bitcoin, Musk quipped, “That goes without saying.”
Last week, analysts at Wall Street giant JPMorgan issued a devastating bitcoin price prediction, warning that the cryptocurrency could fall another 25% following the FTX meltdown — even after the bank bet big on crypto.
Musk, who first voiced his support for bitcoin in early 2021 when he bought $1.5 billion worth of bitcoin via his electric car company Tesla, has appeared to sour on bitcoin over the past 18 months, instead lending support to the meme-based dogecoin.
Tesla sold off most of its bitcoin earlier this year in an effort to shore up its balance sheet following supply chain disruptions caused by shutdowns in China.
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The Bitcoin price has crashed over the past year, dragging down the prices of other majors … [+]
Dogecoin
Last year, Musk called on dogecoin to cut fees and increase transaction speeds to “beat bitcoin hands down.” He has since rolled out dogecoin support at both Tesla and the rocket company SpaceX.
