The Bitcoin forecast for the next year 2023 is presented, including where the most important cryptocurrency is headed in the next 12 months.
The Bitcoin course has experienced a rather difficult time in the last 12 months. The bear market began at the end of 2021 and continued for much of 2022. That meant a long crypto winter in 2022. But 2023 is right around the corner and there are many signs that give great hope for a Bitcoin explosion in the coming year.
The bitcoin price has suffered heavy losses in the past 12 months, losing more than 75% of its value since its all-time high. This all-time high was still over $68,000 in November 2021. However, at the beginning of the year, it was only $48,000. So in the last 12 months, it’s over 65%.
Why Could 2023 Be a Better Year for Bitcoin?
The course of Bitcoin did not have a particularly good time in 2022. With a bear market lasting more than 2 years in recent years, many investors assume that 2023 should also be a year of stable or even lower low prices. Nevertheless, this time they could be wrong.
There are many reasons why we could see significant increases in the price of Bitcoin in 2023:
Firstly, the second year of the bear market in the last cycle was very positive, at least in some moments. The Bitcoin price rose from $3,500 in early 2019 to $10,500 in the summer of this year.
Secondly, the FTX crisis has caused a sharp fall in prices and triggered a crisis of confidence in the market. But the crisis could also have a cleansing effect on the market. From this initial position, a growing and healthy market can again develop.
Thirdly, FIAT currencies strengthened again last year due to increases in key US interest rates for the dollar. Stocks, commodities, and also cryptocurrencies – everything has suffered in value compared to the US dollar. But the ever-rising interest rate policy could end in 2023. Then the price of Bitcoin should adjust upwards.
What is the Bitcoin Forecast for 2023?
The Bitcoin forecast for the next year 2023 looks quite positive, due to the abovementioned factors. The market could well move in a bullish direction again in the coming year.
Therefore, the price of Bitcoin could well rise above $30,000 or even above $40,000, ideally towards $50,000. However, just like in 2019, there could be a consolidation in the second half of the year. year. Thus, one could assume a Bitcoin forecast by the end of 2023 of $20,000 to $27,000.
Although there could still be a short-term drop towards $10,000, the price of Bitcoin should rise again in the next 12 months, as this Bitcoin 2023 forecast shows. Therefore, an investment at these low prices could be worth it.
By Audy Castaneda
