Cryptocurrencies > Trading
What’s in line for Bitcoin in 2023?
CoinpediaNews:
2022 was very low and crypto winter hit the crypto market very badly including for king of cypto Bitcoin. Bitcoin prices have declined due to rising inflation and interest rates.
Crypto analyst and trader Jason Pizzino recently warned that it is not certain that Bitcoin will reach a new record high like it did in previous bull cycles.
It Might Not Be Possible- here’s why –
Bitcoin can reach ATH only if it reach a critical Fibonacci retracement level and surpass certain thresholds. To reach this bitcoin price should cross $34,500, which would represent a 50% increase, which looks currently impossible.
Meanwhile analyst from coinpedia predicts bitcoin 2023 price prediction to be $43,959.19 on basis of the data from glassnode. According to Glassnode, the total supply held by holders has reached a new ATH of 13.62 million BTC. A balance in trade activities could settle the price at $34,412.75.
Flarapt1941:
It is difficult to predict exactly what will happen with Bitcoin in 2023, as it is influenced by a variety of factors such as market demand, regulatory developments, and technological advancements. However, it is likely that Bitcoin will continue to be a significant player in the world of cryptocurrency, and it may potentially see wider adoption and use by both individuals and businesses. It is also possible that there may be further developments and improvements to the underlying technology of Bitcoin, such as the implementation of new features or protocols. Ultimately, the future of Bitcoin in 2023 remains uncertain, but it is likely to remain a significant force in the world of cryptocurrency.
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PatrickJackson:
Hey, thanks for sharing the information.
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CoinpediaNews:
--- Quote from: Flarapt1941 on January 04, 2023, 11:25:02 AM ---It is difficult to predict exactly what will happen with Bitcoin in 2023, as it is influenced by a variety of factors such as market demand, regulatory developments, and technological advancements. However, it is likely that Bitcoin will continue to be a significant player in the world of cryptocurrency, and it may potentially see wider adoption and use by both individuals and businesses. It is also possible that there may be further developments and improvements to the underlying technology of Bitcoin, such as the implementation of new features or protocols. Ultimately, the future of Bitcoin in 2023 remains uncertain, but it is likely to remain a significant force in the world of cryptocurrency.
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--- End quote ---
I totally agree with you. The detailed analysis by experts shows the supply of Bitcoin that was profitable revealed that more traders were profitable by January 2023. Since 11.2 million BTC are in profit, indicating that they are already in private addresses.
At the time of publication, BTC price is up by 11.79% in last 7 days and trading at $18,798.10. Over the last ten days, the quantity lost has drastically decreased, indicating that a sizable sum has accumulated since the beginning of the month. Earlier Coinpedia projected that a steady rise in volumes could push the bitcoin price prediction for 2023 to $43,959.19. The current trade set-up flashes bullish signals as the price is preparing to move beyond $19,000 any time from now. Furthermore, on achieving $19,000, the path towards the higher targets becomes pretty clear. The next destination of the BTC price could be $20,000 and after securing above these levels, a notable upswing may uplift the price close to the pivotal resistance at $25,000 and may be by Feb we can see this.
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