Most cryptocurrency markets have turned red again, including largest-cap asset Bitcoin (BTC), ahead of the year's end. However, analysts and crypto practitioners have made predictions that this will be the fate of BTC in 2023.
Bitcoin recorded minor losses, breaking below the sideways trading pattern from a few weeks earlier, as the aftershocks of the FTX crash are still being felt.
Finbold quoted crypto analyst Trader Tardigrade, on December 27, as assessing that decentralized finance (DeFi) flagship tokens are currently in the zone of extreme long-term hoarding accumulation.
According to the expert, Bitcoin activity today is very similar to the price levels in 2010 and 2020, when the cryptocurrency first changed hands for US$0.09 and US$3,800 respectively, which makes it a good bargain.
Prices for Bitcoin and other top cryptos were observed to experience uniform movements in trading Thursday (29/12/2022). The majority of the top cryptocurrencies are seen returning to the red zone.
Based on data from Coinmarketcap, Thursday morning, Bitcoin weakened 1.24 percent in the last 24 hours and 1.62 percent a week. Currently, the bitcoin price is at the level of US$16,507 or the equivalent of IDR 260.6 million (assuming an exchange rate of IDR 15,788 per US dollar). Ethereum (ETH) also weakened this morning. ETH is down 2.17 percent in the past day and 2.03 percent on the week. That way, ETH is currently at the level of USD 1,186 per coin.
The CEO of strategy services platform XOR, Aurelien Ohayon has noted that Bitcoin's historical bull run occurs after every four years, meaning that 2023 has the potential to become the basis for another, given the BTC bear market only lasted one year.
On the other hand, CEO and co-founder of crypto tax software platform CoinLedger, David Kemmerer believes that Bitcoin could decline even further in 2023.
The crypto miner who runs BitcoinMiningSoftware.com, Stefan Ristic, holds a similar view but also expects the BTC halving in 2024 to be the main catalyst for a possible bull run.
Elsewhere, Fraser Matthews, president of crypto exchange Netcoins, projects more downside for Bitcoin in the next year, warning that the digital asset could correct to around US$10,000.
While the machine learning algorithm in Coin Price Forecast also makes predictions for the fate of BTC in 2023, which is in the price range of US $ 17,191 for the middle of next year.
Most cryptocurrency markets have turned red again, including largest-cap asset Bitcoin (BTC), ahead of the year's end. However, analysts and crypto practitioners have made predictions that this will be the fate of BTC in 2023.
Bitcoin recorded minor losses, breaking below the sideways trading pattern from a few weeks earlier, as the aftershocks of the FTX crash are still being felt.
Finbold quoted crypto analyst Trader Tardigrade, on December 27, as assessing that decentralized finance (DeFi) flagship tokens are currently in the zone of extreme long-term hoarding accumulation.
According to the expert, Bitcoin activity today is very similar to the price levels in 2010 and 2020, when the cryptocurrency first changed hands for US$0.09 and US$3,800 respectively, which makes it a good bargain.
Prices for Bitcoin and other top cryptos were observed to experience uniform movements in trading Thursday (29/12/2022). The majority of the top cryptocurrencies are seen returning to the red zone.
Based on data from Coinmarketcap, Thursday morning, Bitcoin weakened 1.24 percent in the last 24 hours and 1.62 percent a week. Currently, the bitcoin price is at the level of US$16,507 or the equivalent of IDR 260.6 million (assuming an exchange rate of IDR 15,788 per US dollar). Ethereum (ETH) also weakened this morning. ETH is down 2.17 percent in the past day and 2.03 percent on the week. That way, ETH is currently at the level of USD 1,186 per coin.
The CEO of strategy services platform XOR, Aurelien Ohayon has noted that Bitcoin's historical bull run occurs after every four years, meaning that 2023 has the potential to become the basis for another, given the BTC bear market only lasted one year.
On the other hand, CEO and co-founder of crypto tax software platform CoinLedger, David Kemmerer believes that Bitcoin could decline even further in 2023.
The crypto miner who runs BitcoinMiningSoftware.com, Stefan Ristic, holds a similar view but also expects the BTC halving in 2024 to be the main catalyst for a possible bull run.
Elsewhere, Fraser Matthews, president of crypto exchange Netcoins, projects more downside for Bitcoin in the next year, warning that the digital asset could correct to around US$10,000.
While the machine learning algorithm in Coin Price Forecast also makes predictions for the fate of BTC in 2023, which is in the price range of US $ 17,191 for the middle of next year.
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