Could the next four months be the time Bitcoin buffs have been waiting for all their lives? Can the bleak outlook of crypto switch up to go bullish by the end of the year? Some experts think so. Let’s find out!
The year has been a heck of a ride for traders, investors, and crypto enthusiasts alike. Bitcoin, crypto’s golden egg, hasn't been looking so eternally golden anymore. In fact, the whole market has been on a rough hellish ride. Yeah, some altcoins pulled in massive gains this year, but that doesn’t quite put the market where it used to be. By many standards, the king crypto still has the biggest influence on the market.
This is not to say there have been no positives. Projects like Solana ($SOL), Cardano ($ADA), Polkadot ($DOT) Ripple ($XRP) have made some notable gains this year, including meme coin $PEPE that racked up over 400000% surge. That is some good news in the bag this year!
However, $PEPE does not reflect the reality of the current crypto market. At present, all the graphs and heat maps are not looking like it, although there might yet be a silver lining behind this dark cloud.
Professional analysts and some big household crypto personalities think we could be headed upward (maybe not to the moon yet, but significantly upward) before the year comes to an end.
Could a bullish Bitcoin run be coming soon on our financial radars in the rest of 2023? We think that’s a big possibility.
We are going to break down all the hype and bring you the important info you need, no high-sounding jargon or fancy terms here. Just the sauce. Come on, let's dive in.
A good place to start would be where the Bitcoin market was about a year ago. We could then compare and contrast these numbers with what we have today and make predictions for the future.
Even though a wider time range would mean a whole lot more in-depth analysis and predictions, sticking to one year makes everything a whole lot simpler for everyone. Here’s what the crypto market heat map looked like about a year ago:
Definitely a lot of red. A few green squares there from $SHIBA, $LEO and $NEAR, projects that pulled in a few hundred for early investors between 2021-2022. Aside from that, we see a lot of the big boys like $ETH, $BNB, and $XRP in the red. With our protagonist $BTC the biggest loser and influencer at the time (as the case usually is).
The heat map we have above is based on market cap, so it makes sense that BTC might just be the biggest loser. However, many experts have considered 2 major events as core culprits of crypto’s collapse in 2022.
First was Celsius freezing its customers' withdrawals in June and the bigger story was FTX’s saga with CEO Sam Bankman-Fried. Evidence suggests that a leverage problem caused the much smaller crash of March 2022 as well. All these, as well as panic from numerous investors, helped further the damage as the year came to an end.
The new year as always seemingly offers renewed hope. There was a moderate amount of liquidity seen in the Bitcoin market as a few investors came back in the early months of 2023. This helped push Bitcoin prices between January and March.
Regardless, Bitcoin hasn’t seen any long-term bull runs this year. Satoshi’s brainchild hit its all-year high at about $31K in July and currently has the potential to do better with time. Right now the crypto market is moderately recovering from its formerly critical state, as well as a number of altcoins. Ripple, for example, is doing well after a favorable ruling in court against regulator SEC.
For Bitcoin, the steady gains have been attributed to the steady and continuous inflow of investors into the Bitcoin ecosystem again after the panic in late 2022. There has also been a lot of positive news surrounding the crypto community as well.
With a lot of small wins and promising prospects, investors are trusting the market once again. Bitcoin is up about 70% when compared to figures from a year ago. Even though we’ve all seen a whole lot bigger gains from other projects this year, this is a sign that the Bitcoin market is steadily progressing.
Every true crypto buff would say Bitcoin is headed up if asked this question, especially if you consider its consistency in bouncing back every three to four years. However, one must keep in mind that the crypto market is quite unpredictable. A whole lot could go wrong, real fast; take the SBF saga for example, and the Celsius implosion before it.
As if the market’s unstable nature isn’t enough, we still have issues with regulation and even federal agencies witch-hunting decentralized exchanges. All these mean we need professional advice when it comes to predicting the future of Bitcoin. Let’s go get some of that.
If you’re like us you’re probably wondering, “When the crypto markets start making big gains”? Well, let’s see what some professional traders and analysts have to say about this.
The crypto market may become increasingly favorable in the coming months if we follow the predictions of some of the big names in the industry. Notable names like Standard Chartered, S&P, and Adamant Research seem quite optimistic.
Regardless, it must be reiterated that expert predictions are yet what they are — predictions, even if they are well-researched and analyzed. One must always carry out their own due diligence. Here are 4 key things you should however put into consideration when making any Bitcoin-related moves:
Yup, that’s right. In case you didn’t know already it has been predicted by numerous financial institutions and research groups.
Why? Well, investors would be looking for a haven to invest their money into before it plunges in value. An example of this would be a stable or promising crypto token like Bitcoin. If you’re a tad nerdy, you can read the S&P Global report here.
Traditional firms in the past year have seemed to slowly pick interest in cryptocurrencies, most especially the top dog — Bitcoin.
After the chaotic fall of some big exchanges like FTX, some major traditional firms are keen on Bitcoin ETFs. This trend has been adopted by big names like Blackrock, Invesco and Wisdom Tree. If the trend goes on, it could help those Bitcoin price candles go green.
The definition of what crypto assets truly are has been somewhat of an inside debate for finance nerds and the like. While the rest of us are just happy when we make profits, some others are neck deep in all the nitty gritty details.
The SEC might be somewhat like these guys and they have leveraged some slight mis-definitions as a way of clamping down on crypto exchanges.
An example is the ongoing lawsuit with Ripple ($XRP) over whether the platform's native token is a security or not. Considering Ripple’s last “partial win”, a win for Ripple would be a victory for the crypto industry and would help finally bring some much-needed clarity.
Adamant Research has released a report that we will simply summarise in a few words. “Bitcoin is coming back with a boom, get ready before it’s too late.”
They predict a $120K valuation of Bitcoin after a bit of dwindling in the $20K - $40K range. If this sounds too good to be true, you don’t have to believe us. You could just read the 22-page report in your spare time.
The guys at Standard Chartered also approve of these predictions. They estimate that Bitcoin could reach an all-time high of about $100K before the end of 2024. Talk about faith.
If your outlook for Bitcoin is a little bit more futuristic here’s a list of predicted Bitcoin numbers for the next few years:
PREDICTED BITCOIN PRICES 2024 - 2030
The best leveraging advice anyone would give you would be to buy Bitcoin now, right? Well, if you’re thoroughly convinced, that’s exactly what you should do.
You must also do your own research to be certain about your decision. On the flip side, you could invest funds you have no issues losing so you’re in the safe zone no matter what happens.
Experts suggest 2023 would see an average of about $30K; right now the average is already at $21K with a few more months to go.
Many experts say the crypto winter is over, and a rapid rise is expected in the latter months of the year.
Experts think the crypto market will become less volatile as the year runs down. This stability will stem from a more stable flow of liquidity in the market as investors start to trust the market again.
A U.S. recession could be good or bad for crypto. In the end, what matters is where investors put their money when the economy is declining.
Bitcoin price prediction is done by using macroeconomic trends, technical and historical analysis as well trends in the crypto market.