2023 For Bitcoin And Crypto May Not Be What You Think!
2023 bitcoin The past year has been a downright terrible one for crypto investors. 2022 has gone down in history as one of the toughest years for crypto. The Fed’s aggressive rate hikes, countless cryptocurrency fiascos, and much more. However, some of the investors think that bigger decreases may be experienced for 2023. So whose expectations will come true? What kind of a period will 2023 be for cryptocurrencies and Bitcoin?
Bitcoin 2023 Comment
Each period of decline feels like it will last forever. If you remember the year 2018 or the pandemic period, you get the feeling that everything is over. The emotions experienced by investors in those days are the same as today, especially those who have experience will understand what I want to say much better. Relying on the $ 70,000 limit in November 2021, Bitcoin closed the year 2022 with a 65% loss. In November, the opposite was happening. Huge crowds kept saying that the price would go up to $100,000 or more. Just like the crowds that gave the $12,000 goal today.
I know we all have some reasons to be optimistic in 2023. I personally hope that Bitcoin will treat investors much better this year. Of course, if this fog cloud dissipates. Bitcoin is likely to have a much better year in 2023 than 2022, but it won’t happen again in 2021.
Cryptocurrencies 2023 Forecast
The hope of the Fed‘s policy change and 4-year cycles lie at the heart of the optimistic expectations. Bitcoin’s price behavior during (and between) halving periods gives investors hope. In the past, Bitcoin would usually bottom out when the next halving was about a year and a half after the next halving. So less than 18 months to May 2024 makes it extremely attractive to buy today because we’ve probably hit a bottom and further risk seems minimal 2023 bitcoin.
But even more important is what Bitcoin did up until the halving. On average, when the next halving arrives, the Bitcoin price is usually within 60% of the previous all-time high. If it follows this pattern again, this Bitcoin should be around $40,000 by May 2024. What happened in the past does not have to be repeated in the future. However, for such a young and highly volatile sector, it is impossible to ignore the cycles. In the worst-case scenario, we know that Bitcoin has experienced an average increase of 70% after years of being negative in the past. Accordingly, 2023 Bitcoin should rise to the level of $ 28,000 in 2023. This can bring gains in excess of 200% for altcoins.
Of course, these are all expectations. And expectations are not necessarily fulfilled.