2022 has clearly been a very tough year for all cryptocurrencies. In fact, the largest cryptocurrency in the world, Bitcoin, has lost almost 65% of its market value in all of last year. However, the beginning of 2023 has the experts totally baffled regarding this cryptocurrency.
Bitcoin is currently trading above the €21,000 levels, with a positive change in its price since last November. It should be noted that the value of Bitcoin showed positive signs once it crossed the very low levels of 16,800 euros. The price went back up and continued to show bullish signals so far.
And of course, seeing this, we cannot expect anything other than a community divided on whether the token price is going to rise or fall in the next year.
On the one hand, we find most analysts and technical indicators suggesting that it could bottom between 12,000 and 16,000 euros in the coming months. On the other, influencers, BTC maximalists and a number of other fans argue that its price could skyrocket to 80,000 euros and beyond.
Will Bitcoin crash again in 2023 or will it rise again like the phoenix?
Taking into account all the instability and madness that we are experiencing in the world of cryptocurrencies And with regard to Bitcoin in particular, the question arises as to what will happen to this currency in the face of 2023 and of course, all kinds of predictions are born.
Well, there is a group of investors, companies and large institutions that maintain a bearish vision of the worth of Bitcoin and firmly believe that it could fall In the near future. For example, the prediction of the global bank Standard Chartered on Bitcoin is very surprising: they predict that it could fall to levels of 5,000 dollars in 2023.
However, we are likely to see valuations rise in mid-2023, and there is evidence to support this idea. According to Kevin Svenson, we could see the start of a bull market around the month of Aprilwhen the 80-week bear market ends.
And it is that, despite the market turmoil, the deflationary nature of Bitcoin translates into a price appreciation for long-term investors. Many experts position themselves in a bullish extreme because in the face of 2024, Bitcoin will carry out a halving, that is, the reward for miners will be halved.
The Bitcoin halving event occurs every four years and is generally viewed as positive for the price of Bitcoin. Bitcoinsince the halving helps to contract the offer.
Of course, there is evidence supporting both sides. The point is that they may be looking at different time horizons with respect to cryptocurrencies and Bitcoin in particular.
There are compelling reasons to say that Bitcoin is likely to fall sharply in the coming months, but could rise in mid to late 2023. Knowing this, we only have one thing left to do: wait.