Bitcoin price has been flat for the past 24 hours, holding at yesterday’s $16,750, as the broader market falters slightly lower. Its current price marks a decrease of 1% in a week, although the world’s top cryptocurrency is down 1.5% in a month and 75% from its all-time high of $69,044, set in November 2021.
Despite the current negative trend, many leading figures in the cryptocurrency industry are predicting that bitcoin will experience significant gains this year. For some, the goal of BTC price is even set at $250,000. However, other experts believe that BTC will experience a few more declines before seeing the light at the end of the tunnel. Thus, according to analyst Clem Chambers, it should bottom out at $13,000.
Bitcoin Price Predictions for 2023: Here’s What Bullish Analysts and Optimists Think
BTC technical indicators suggest a rebound should happen sooner or later. Indeed, its relative strength index (purple) has almost always been below 50 since the beginning of November. Likewise, his 30-day moving average (red) has remained well below its 200-day average (blue) since the beginning of last year, which also indicates that a return to the upside is expected.
Many industry observers and experts believe that bitcoin will experience significant rallies this yearwith estimates ranging from the most modest to the most optimistic.
For example, investor Tim Draper continues to maintain his goal for the $250,000 prize. According to the latter, bitcoin could reach this threshold as early as the middle of the year. To justify this optimism, he claims that bitcoin has not yet really benefited from an influx of retail investors. These will eventually turn to cryptocurrency as part of a “flight to quality”.
Although Draper is probably the most optimistic voice among high-profile investors, there are still a good number of other pundits who expect the BTC increases this year. Thus, for Alistair Milne, the founder of the Altana Digital Currency Fund, the goal to reach is $45,000. Much will depend on how central banks tolerate above-average inflation.
Optimistically, Milne also predicts that bitcoin will end up between 150,000 and $300,000 by the end of 2024. This is when the next halving of its value will take place.
Of course, not everyone is particularly positive. Analyst Clem Chambers, who predicted a market crash in 2022, now believes that bitcoin will fall to around $13,000 before improving, although he thinks he will recover in the longer term.
His reasoning rests largely on the assumption that the contagion effects resulting from the collapse of FTX have not yet completely disappeared. Thus, the start of 2023 could see more high-profile crashes and bankruptcies, causing bitcoin and the market in general to fall further.
This is a realistic assumption, and based on the current macroeconomic climate, it is hard to imagine BTC enjoying a substantial rally in the coming months. However, with the slowdown in inflation and the probable cessation of rising interest rates as a result, no one can predict what the second half of the year could hold for us.
New Altcoins Offer Short-Term Profits
Either way, it’s clear that bitcoin holders and investors alike may have a little longer to wait before experiencing real joy. As such, traders looking for short-term profits may prefer to look to newer altcoins. Thereby, presale tokens have been particularly lucrative in 2022, even with the bear market.
For example, Lucky Block (LBLOCK) and Battle Infinity (IBAT) saw gains as high as 6,000% and 3,000% from their initial pre-sale price of $0.00015 each. Separately, Tamadoge saw an 1,800% surge after listing on OKX in October.
This is the kind of market performance the two coins below seek to replicate, with each still in the process of offering tokens to the public before being listed on a flat.form of cryptocurrency exchange. They both have strong fundamental characteristics. In addition, each of them seems ready to start the year 2023 with a bang.
Fight Out (FGHT)
Fight Out (FGHT), which runs on the Ethereum blockchain, is a move-to-earn platform that brings real-life workouts to the Web3. Taking things further than the first wave of M2E platforms like STEPN, it will track and reward a much wider range of workouts. It will include boxing, weightlifting and yoga. Additionally, it will offer classes on its app and in its own-brand gyms.
Launched in December, its token presale has already raised over $2.6 million. An FGHT token is currently worth $0.0166, but this price will increase in the next stage of the sale.
Dash 2 Trade (D2T): excessive funding before listing on exchanges
Dash 2 Trade is another Ethereum-based platform that offers a full range of trading tools. Scheduled to launch in the next few months, it will provide real-time analytics and social trading data. This will allow investors of all experience levels to have the resources and tools they need to make better trading decisions.
Pre-sale of its D2T token raised over $13.8 million and the Dash 2 Trade team is currently running an overfunding operation ahead of the January 11 launch of D2T on crypto exchanges. She has already confirmed the listing of her token on BitMart, Changelly Pro and LBANK Exchange. Other platforms are expected to follow and list the D2T token.