The crypto market finally made its move higher. In the past week, most cryptos are up by an average of 8% while the crypto market cap breached the $1 trillion mark. Bitcoin specifically managed to finally breach its psychological price of $20,000. Where will Bitcoin reach before 2023? Let’s assess in this conservative Bitcoin price prediction.
Bitcoin Price up by 8% – What happened?
A couple of positive events happened last week which drove Bitcoin prices higher. After extended consolidations, prices are bound to increase when a small positive news surfaces. However, the events that happened were kinda major:
- The UK approved cryptos: Whenever a country (specifically a powerful one) acknowledges cryptocurrencies, this is a big deal for the crypto market. This is because is reassures investors that they’re investing in a “legitimate investment” and don’t risk losing everything they invested.
- Elon Musk purchased Twitter: Elon is known to be a crypto enthusiast. As the platform got officially acquired, the crypto community believes that Twitter would integrate NFTs or cryptocurrencies on its platform. This is probable as Binance was one of the investors that backed Elon in the Twitter purchase.
Bitcoin Price Prediction – Where will Bitcoin Price reach before 2023?
If we look back in June, it took Bitcoin 1 month to increase by $5,000 in its best-case scenario. If we assume the same starting November 1st, 2022, we can notice that Bitcoin prices might reach anywhere between $25,000 and $30,000. This is assuming that the crypto market continues to grow on a steady uptrend. However, adjustments might occur, bringing BTC prices towards the lower bracket.
In a LinkedIn post, we asked the crypto community about their assumptions for BTC prices before 2023. The results were mixed, but 60% assumed that Bitcoin prices will remain in consolidation between $18,000 and $22,000. They mostly predicted price adjustments that would bring BTC prices lower.
Will Bitcoin Crash before 2023?
A Bitcoin crash is a big word for Bitcoin currently. There is no apparent reason for a crash. On the contrary, prices are expected to increase. The worst case would be another consolidation around the current price of $21,000. This means that if you wanted to jump back on board, you might want to do so before the market increases further. However, don’t forget to place your stop-loss triggers to avoid any losses in case the market turns sour.
- LUNA Crash to 1$! Proposal to fix UST is out, will LUNA recover soon?
- Can Bitcoin reach $30,000 before 2023? Final Verdict is HERE!
- Why is Dogecoin price up 8%? Will DOGE continue to rise? Logical Answer.
- When will Bitcoin reach $100,000? The year is NOT Near!
- XRP Price can TRIPLE in the next few weeks if THIS Happens, Here’s Why
- Chiliz Price Prediction – Can Chiliz reach 10 $ in 2023?
- XRP Price increase 100%? This Chart confirms a MASSIVE Breakout soon
- Bitcoin above 20K AGAIN! Is Bitcoin Price Bullish Today?
- Bitcoin Price Prediction – Can Bitcoin reach USD 100,000 before 2022?
- Is the Bitcoin Crash over? Or will Bitcoin price reach $10,000?
- XRP Price Prediction – Can XRP reach 2$ before 2022?
- What’s Happening to Cryptos? BTC, ETH, XRP Price Prediction
- Ethereum Price Prediction – ETH still UP but might Correct to THIS Level
- Bitcoin Price UP above 20K – Is the Crypto Crash over?
- ADA Price Prediction: Can Cardano Price Reach 3$ by the end of the year 2022?
- Bitcoin Price is CONSOLIDATING! Is an Uptrend coming soon?
- Ethereum Price HOLDS 1K unlike Bitcoin! Is ETH better than BTC?
- Founder of Terra Arrest – Will LUNA Collapse AGAIN?
- Bitcoin Price Prediction – BTC Breached 40K! Will it climb to 50K next?
- Cryptos are Consolidating…Will Cryptos Crash? – BTC/ETH/XRP Analysis
- Bitcoin Price is BACK ON TRACK – Should you BUY BTC?
You might also like
More from Bitcoin News
News surfaced that the UK approves cryptos. How will this affect crypto prices? Will investors jump back into their crypto …
BTC prices fluctuated between $24,000 and $18,500. Is Bitcoin a good buy currently? Let's analyze in this Bitcoin price prediction …