crypto

Bitcoin (BTC), Price at This Level? Prediction for 2023

Bitcoin (BTC), Price Prediction News: Bitcoin (BTC), price hovers around $17,000 mark. There is speculation about the possibility of a bottom. Experts recently suggested that BTC could have done much better than the current range if it weren’t for the FTX collapse. The top cryptocurrency dropped to $15,700 in 2022 after the Sam Bankman-Fried crypto empire collapse. As 2023 nears, the crypto community speculates about the possible bottom price range.
Also read: Elon Musk’s SpaceX & Boring Company Are Alameda’s Top Investments
In the current bear market, the recent FTX crash could have cost Bitcoin a few months in price recovery. Uncertainty could reign in the crypto market as more companies are exposed to the contagion effect of FTX. Only when the FTX contagion has subsided will the actual Bitcoin price reflect the underlying demand-supply dynamics. Recent reports suggest that BTC could fall to $5,000 in 2023, which could be a surprise.
According to CoinMarketCap, the price of Bitcoin (BTC) is at $16,965, a decrease of 0.82% over the last 24 hours. Peter Schiff, chief economist of europac.com, stated that Bitcoin (BTC), could have reached its bottom at $17,000. He cautioned investors against falling into the trap of believing that it is still to fall. In a tweet, Schiff stated that the latest tweet was:
“Don’t mistakenly think that Bitcoin is creating a floor at $17K. It is forming the next ceiling. Every time Bitcoin falls, it consolidates its losses before the next fall. These landings aren’t bottoms. These landings are trap doors.
Trending Stories

It remains to see if retail investors will seek out BTC as Christmas approaches. The crypto market has traditionally found December to be fruitful.
Also read: Popular Analysts Predict Christmas Bitcoin and Gold Prices

Advertisement

About the author
Disclaimer

The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

Crypto Stories
View all