In 2023, Bitcoin might increase significantly, like in 2019, when it went from USD 3,500 to USD 10,500. If BTC has bottomed out, it would be an excellent opportunity to invest before its price rises from USD 15,000.

Over the last few weeks, the price of Bitcoin (BTC) has stabilized significantly again after the collapse of FTX. When that event occurred, it dropped below USD 16,000 before moving toward USD 15,000, the lowest level in 2022.

The value of Bitcoin has recently stabilized, settling between USD 16,000 and USD 17,000. It briefly rose above the USD 17,000 mark again, signaling that it might increase to USD 20,000 in December.

The Bearish Market Might Have Bottomed out

Following the FTX collapse, the price of Bitcoin may have reached its lowest point amid the current bearish market. In June, it dipped below USD 18,000 for the first time in 2022, but the unexpected event caused further drops.

It might be the minimum this time, as there might be sustainable increases in price in 2023. There were optimistic signals from the market before the FTX crash, and external factors suggest a bullish trend.

In 2023, the price of Bitcoin might rise significantly, like in 2019, when it went from USD 3,500 to USD 10,500. There are many similarities between the courses of the two bearish markets.

The Price of Bitcoin Might Rise again Significantly

Since December has historically been a bullish month, the price might increase slightly again toward the end of 2022. However, no one can say whether it will be enough to exceed the USD 20,000 mark.

Bitcoin should increase considerably in 2023, similar to its performance in 2019, reaching above USD 40,000. The course of its price might even get closer to the USD 50,000 mark again.

It Might Be the Best Time to Invest in Bitcoin

The meager prices of Bitcoin over the last few months have caused the interest of many people to fade. However, the situation was similar in late 2018 and 2019, when BTC dropped to USD 3,500. That led many investors who had bought during the big bullish market at the end of 2017 to stop doing it.

If the price of Bitcoin has bottomed out, this would be the best time to invest in it. It is hard to predict how long low prices will last, but a further drop below USD 15,000 is unlikely.

Bitcoin Might Help Fight Recession If It Resumes Its Bullish Trend

Many economists predict a coming major recession that would allow testing the price of Bitcoin. Although the cryptocurrency might follow its rules again, a difficult economic situation might prevent its value from increasing for years.

However, it would be an excellent opportunity to buy Bitcoin if it continues with its known cycles. Nobody knows when the price will rise again, but the coming weeks before the year ends might be exciting for investors.

Meanwhile, Bitcoin is trading at around USD 16,971 and has accumulated a 0.7% loss over the last 24 hours. While its daily trading volume is above USD 22.53 billion, its market capitalization s about USD 326.20 billion, according to CoinGecko.

By Alexander Salazar

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