BERA Price Prediction: Will Berachain (BERA) Reach $1 by 2023?

The strategic launch of the Berachain (BERA) coin on Thursday has gained significant attention from the crypto trading community.

The launch of the Berachain (BERA) coin on Thursday has attracted attention from the crypto trading community. The Ethereum (ETH) rival announced an airdrop of 79 million BERA coins, valued at over $632 million and constituting 15.8 percent of the token’s total supply, to the community on Thursday.

Berachain is a high-performance EVM-identical L1 blockchain secured via Proof-of-Liquidity (PoL). It aims to disrupt the global Web3 ecosystem and is backed by several reputable investors, including Hack VC, Polychain, Framework Ventures, and Brevan Howard Digital.

The mid-cap altcoin, which has a fully diluted valuation of about $3.7 billion and an average 24-hour trading volume of about $2.2 billion, launched on major crypto exchanges at a price of around $13.27. However, in the past 24 hours, BERA price dropped around 3.5 percent to trade at about $7.58 on Friday, February 7, during the mid-London session.

Interestingly, a whale investor made a profit of $589k by shorting BERA immediately after launch through the Hyperliquid platform.

After $BERA was listed, a whale made a profit of $589K by shorting $BERA in less than 2 hours.

He deposited 1.6M $USDC to #Hyperliquid 16 hours ago and shorted $BERA at ~$13.

Then he closed the short position and withdrew 2.19M $USDC, making a profit of $589K.

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Mid-Term Expectations

BERA price is gradually showing correlation with Bitcoin (BTC) price action amid the highly anticipated altseason. A potential BTC price rebound will attract more BERA token buyers and kickstart a fresh bull rally in the near future.

On a conservative basis, BERA’s price could reach a target of between $15.15 and $28.76 by the end of 2025.

Long-Term Forecast

In the long haul, BERA price is well positioned to rally exponentially to reach a target range of between $82 and $130 by 2026. With the crypto cash inflow having shown a positive correlation with the US M2 money supply growth, Betachain could easily scale to a market cap of over $25 billion by 2028.