Bitcoin Price Prediction: Is This The Bottom For BTC Price Hitting $100K In 2023?
Crypto analysts forecast that the price of Bitcoin will surpass $17,000 before the end of 2022 and that it may reach $100,000 in 2023.
Bitcoin has been trading in the $16.5K-$17K range since November. Traders anticipate a small upward movement near Christmas that will push the Bitcoin price above $17,000.
Analysts predict an increase in the price of bitcoin around Christmas, but a Santa Claus rally for a rise above $18,000 seems unlikely this time. Several experts and analysts, however, predict a significant bullish surge and a $100K BTC price in 2023.
The current value of one bitcoin is $16,845. The low and high for the day are $16,755 and $16,895, respectively. So, the price of BTC has risen by 1% in the last 24 hours. The price, on the other hand, is more volatile.
Bitcoin Price Can Rally Above $17K
The Bitcoin price may rise above $17,000 before the end of 2022, according to a tweet from cryptocurrency expert CredibleCrypto on December 22. He claims that Bitcoin is maintaining its 16.3K–16.5K range and that BTC dominance has started to rise.
A rejection or bullish continuation can be witnessed after the price of BTC moves above $17K. For an upward movement, however, BTC must maintain the level. As the price of Bitcoin (BTC) struck the $16.5K support level once more, CredibleCrypto previously revealed two scenarios. He continues to be optimistic about Bitcoin’s short-term rise to over $19K.
Additionally, he wholeheartedly concurs with BitMEX co-founder Arthur Hayes that Bitcoin’s price may reach $100,000 by the end of 2023 or in the early months of 2024.
Why Bitcoin Price Can Hit 100K in 2023
As the Federal Reserve switches to purchasing treasuries, experts predict that 2023 will be a better year for both the stock market and the cryptocurrency sector. Huge bullish rallies are expected to occur in the middle of 2023, probably in April or May, according to Felix Zulauf of the hedge fund Zulauf Consulting and Arthur Hayes. This turn of events might potentially reverse the cycle.
The first to recover will be technology equities, which saw severe selloffs during this bad market. According to Zulauf, liquidity will be increased as the economy deteriorates. In late 2023, according to Hayes, BTC will reach $100,000. But everything hinges on how the Fed changes course.
FAQs – BTC Price Prediction
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Conclusion
I can’t make a reliable prediction about the future price of BTC or any other cryptocurrency. The value of cryptocurrencies is highly volatile and can fluctuate significantly over short periods. Factors such as market demand, regulatory changes, and global economic conditions can all impact the price of cryptocurrencies. Additionally, cryptocurrencies are not backed by any tangible assets or government, and their value is determined by supply and demand in the market.
It is important to remember that investing in cryptocurrencies carries a high level of risk, and it is not suitable for everyone. If you are considering investing in cryptocurrencies, it is important to do your research and carefully consider your financial situation before making any investment decisions. You should also consult with a financial advisor or professional for personalized advice before making any investment decisions.
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