Bitcoin price has remained flat over the past 24 hours, holding at $16,796 since yesterday, while the broader market is slightly down. Its current price represents a 1% gain in one week, although the world’s first cryptocurrency is down 1.5% in one month and is down 75% from its November 2021 all-time high of $69,044.
Despite the ongoing stagnation, more than a few figures within the cryptocurrency industry are predicting that bitcoin will make significant gains this year, with some even going so far as to set a target of $250,000. However, other experts believe that BTC will experience some further declines before seeing the light at the end of the tunnel, with analyst Clem Chambers forecasting a low of $13,000.
Bitcoin Price Predictions For 2023 Are Here And Here’s What The Bulls And Bears Think
Technical indicators for BTC suggest that it should be due for a rally sooner or later, with its Relative Strength Index (purple) having been falling below 50 since early November. Similarly, its 30-day moving average (red) remains well below its 200-day (blue) level from early last year, again indicating that a rebound is overdue.
Many commentators and industry figures actually believe that bitcoin will enjoy significant rallies this year, with estimates ranging from modest to extremely bullish.
long term bull Tim Draper holds on to his $250,000 price target, for example, the entrepreneur suggested that he could reach this milestone in the middle of this year. His rationale for this optimism is that bitcoin has not yet really benefited from an influx of retail investors, who will eventually flock to the cryptocurrency as part of a “flight to quality”.
While Draper is probably the most optimistic voice among major investors, there are still many other experts who expect BTC to see gains this year. Alistair Milne, founder of the Altana Digital Currency Fund, has set a target of $45,000, depending on the extent to which central banks tolerate higher-than-average inflation.
Optimistically, Milne also predicts that bitcoin will end up between $150,000 and $300,000 by the end of 2024, when the next reward halving is due.
Of course, not everyone is particularly positive. Analyst Clem Chambers, who predicted market crash in 2022now keep that bitcoin It will drop to around $13,000 before correctingAlthough he believes it will be fine in the long term.
His argument is based largely on the assumption that the effect of contagion arises from FTX collapse Not fully played. Therefore, early 2023 could see a few more high-profile collapses and bankruptcies, resulting in bitcoin and the broader market falling again.
This is a realistic assumption, and based on the current macroeconomic environment, it is difficult to envision BTC enjoying a substantial rally over the next few months. However, with slowing inflation And as a result rate hikes are likely to hold off, who knows what the second half of the year may bring.
Short Term Profits With New Altcoins
Either way, it’s clear that bitcoin holders and investors will be waiting a while longer before they can find some real joy. Thus, traders looking for short-term gains may prefer to look at newer altcoins, especially with attractive 2022 pre-sale tokens, even with a bear market.
For example, Lucky Block (LBLOCK) and Battle Infinity (IBAT) posted gains so high 6,000% And 3000% compared to their initial pre-sale prices of $0.00015 each. Another example, Tamadoge up to 1,800% After getting listed on OKEx in October.
It’s a market-beating performance the two coins below are looking to repeat, each still in the process of tokenizing the public ahead of exchange listings. They each have strong fundamentals, and each is off to a good start for 2023.
Fight Out (FGHT)
running on the Ethereum blockchain, to fight (FGHT) is a platform for earning which brings real life exercises on web3. Taking things further than the first wave of M2E platforms like STEPN, it will track and reward a wider range of workouts including boxing, weight lifting and yoga, while also offering in-app and IRL courses at its own branded gyms .
Its token sale was launched in December has already raised over $2.6 millionn, 1 FGHT is currently going for $0.0166, however this price will increase in the next phase of sales.
Dash 2 Trade (D2T) – Pre-Listing Overfunding Round
Another Ethereum-based platform, dash 2 business Is a comprehensive trading intelligence platform. Scheduled to launch over the next few months, it will provide real-time analytics and social trading data, giving investors of all experience levels the resources and tools they need to make better trading decisions.
Its D2T token sale has raised over $13.8 million and Dash 2 Trade team is now conducting an overfunding round Prior to D2T’s listing on 11 January. It has already confirmed listings on BitMart, Changelly Pro, and the LBANK exchange, with more exchanges set to follow.
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