How high will Bitcoin rise, or fall, in 2023?

[nitrobetting]

A recession is coming

Bitcoin is supposed to be deflationary, but it hasn’t acted like a deflationary asset. As interest rates rise, almost all assets of value fall.

It turns out that Bitcoin is a store of value. So what does that mean? It means that investors have poured into BTC as a way to create a backstop should the stock market, real estate market, and other markets fall.

If a recession is coming, and it appears it is on the horizon, Bitcoin’s price could fall because investors will turn BTC into cash to pay debt.

2. The Biden Administration isn’t a fan

President Biden and Treasury Secretary Yellen are exploring the idea of a digital currency that the U.S. Government controls.

A U.S. digital currency would hinder Bitcoin’s price because the government could decide to temper enthusiasm regarding the world’s first cryptocurrency.

3. Bitcoin utilization hasn’t increased as much as many expected

President Biden and Treasury Secretary Yellen are exploring the idea of a digital currency that the U.S. Government controls.

Bitcoin utilization is on the rise, but it hasn’t increased as much some believed it would. Utilization is the key. The more utilization, the higher the price of Bitcoin. At least, that’s the theory.

Full article→ https://n2g.io/6e2ec99

[Nwada001]

How high will Bitcoin rise, or fall, in 2023?

I don't actually know the dip to which the price will drop, nor do I know how much it will be worth at the end of the year. What I do know for sure is that no matter the price at which I see Bitcoin at the end of the year, it doesn't define it as the final bus stop, and as such, there is a need to put more faith in hodling and bagging more until the expected bull run hits the market.

A U.S. digital currency would hinder Bitcoin’s price because the government could decide to temper enthusiasm regarding the world’s first cryptocurrency.

I don't think that analogy is ever going to work, we have seen more of those in the crypto word, we know the US government have the power to manipulate the market but it's only to an extent, if they decide to create a digital currency which they can pump in money control the price to hit the top then that's their problem, people will buy and hold the assets no argument with that, people will also make profit from it if possible, but their is one thing that they can not do, which is controlling the people, they can't force everyone not to buy Bitcoin and hold because they now own their own digital currency, they can't on their own reduce the value of Bitcoin, Bitcoinners will decided the value of their holdings not the government of any country.

[hd49728]

A recession is coming

Bitcoin is supposed to be deflationary, but it hasn’t acted like a deflationary asset. As interest rates rise, almost all assets of value fall.

It turns out that Bitcoin is a store of value. So what does that mean? It means that investors have poured into BTC as a way to create a backstop should the stock market, real estate market, and other markets fall.

If a recession is coming, and it appears it is on the horizon, Bitcoin’s price could fall because investors will turn BTC into cash to pay debt.

Ignore the recession, Bitcoin halving is coming.

Recession is a support for assets as store of value, isn't it? Recession will create shock in all markets but good assets like gold and Bitcoin will be heavens for investors. There will be more demands on Bitcoin and gold in recession.

2. The Biden Administration isn’t a fan

Biden can not work as a President forever. He might not be elected next year too. Don't worry too much about Biden, maximum he will be in the White House as a President till 2028.

3. Bitcoin utilization hasn’t increased as much as many expected

Are you sure about that?

Adoption curve shows that Bitcoin has very speedy adoption that is contribute by its utilization.

[Faisal2202]

A recession is coming
Bitcoin is supposed to be deflationary, but it hasn’t acted like a deflationary asset. As interest rates rise, almost all assets of value fall.

Ok, i get it, Recession is coming due to many crises, like, the banking crisis, debt ceiling crisis, and many other factors are also in the list but how can you say that BTC hasn't acted like a deflationary asset? Because AFAIK, BTC has proved itself to be a hedge against inflation and it is the best source to store your value of money other than Chinese Yuan and Gold. Let me give you an example:
A person "Anonymous" had 1,432.93416847 BTC in the early days of BTC which was worth around 218,941.38USD and when he made a transaction of those 1,432.93416847 BTC the worth was 37,717,692.94USD

Source

Now tell me one thing, if he had converted those BTC at the rate of 218,941.38 USD, will it have the same value as it has today? Absolutely Not. And you know that. Because his/her money will lose its value. But hey it's proved that BTC is playing its role completely as it supposes to and it would save many money holders in the next recession. (i hope so) because

It turns out that Bitcoin is a store of value. So what does that mean? It means that investors have poured into BTC as a way to create a backstop should the stock market, real estate market, and other markets fall.
If a recession is coming, and it appears it is on the horizon, Bitcoin’s price could fall because investors will turn BTC into cash to pay debt.

Well, halving is also coming and we all know that after the halving of BTC, a bullish/bear trend come and BTC touches to new ATH. And you are worrying about those who will sell their BTC to save them from bankruptcy as the FTX exchange did. Well, AFAIK, if that's happened before halving then it will be a good opportunity for buyers and long-term holders, and my instinct saying me there is a 40% chance of it happening because which exchanges are facing difficulties in finance and has the most BTC as reserves?

2. The Biden Administration isn’t a fan

CBDC and BTC are two different paths leading to two different destinations, so how can CBDC impact BTC, CBDC has a very mere impact on BTC, i am wondering if you haven't watched the latest news about SEC. (haha) because currently, SEC is making moves against the market but hey Gensler has not declared BTC as security yet instead in a few interviews, he declared BTC and 2 other assets are not security.

3. Bitcoin utilization hasn’t increased as much as many expected

BTC is a currency and many big companies had adopted BTC as payment method and are using it too, in fact a country had made BTC a legal tender and (El-Salvador) and there are many people making there living out of it, living a there dream life. Then how can you say BTC has not increased its utilization, AFAIK it have been just 14 years.

[ShowOff]

I can expect $45k to be the high in 2023, while $20k to be the low. It's just that the market has been volatile lately because of the SEC and some other bad news. Investors have been cautious and may choose to watch rather than act, so sideway or downside trend is unavoidable.

If the bitcoin price can break another $30k in July then I can expect another move to break the $40k resistance. A lot of people wouldn't say it's tough, so chances are they know the market will soon recover from the current impact.

[flyingcarpet]

I can expect $45k to be the high in 2023, while $20k to be the low.

There is also a possibility that the Bitcoin price will increase towards the end of this year. Everyone knows that there will be a halving and all predictions are that the price will increase. Why wait for 2024 when there are such predictions? I think so too, and I think it would be good to act early. That's why I'm making small purchases now rather than waiting for 2024. When the 2024 halving arrives, we may regret not buying at the current price.

[dansus021]

Speculation How high will Bitcoin rise, or fall, in 2023? my answer will be bitcoin maybe above 20K level but still below 50K level.

and today bitcoin is still printing money meaning there will be new coin every 10 minute but has total coin 21 Million, after that there will be no new coin. and if the demand still high the price can also drive up the basic supply and demand

and if you look at the past decade bitcoin price against the inflation rate meaning you are not losing buying power but have more the buying power

[Fundamentals Of]

The elections will be held a few months from now. Biden might lose. A possibility as simple as this would bring so much change in the playing field. It could mean a lot. For example it could mean Gensler will be replaced in the SEC. So it isn't really a big factor that the Biden administration isn't a fan. Bitcoin is actually growing in the US under his watch.

I think the worst that could happen to the price is that it will fall all the way to $20,000. At best, I think it is possible for Bitcoin to reach $40,000 in the last quarter of the year.

[adaseb]

Yeah a recession is suppose to come but why is the stock market looking like it’s going to break ATHs soon. Todays inflation data showed almost no MoM gains.

Employment is still strong and we Still got supply issues with cars and houses. So using all this info it’s hard to tell exactly what will happen with crypto. Especially when Gary from SEC won’t stop attacking it.

I think we will trade sideways for most of the month and in the fall we will see a move.

[Aanuoluwatofunmi]

Snip

I will just throw this as a summary that you shouldn't use the general economic activities and events happening in judging for bitcoin market price, they all work and operates on different levels and are not interdependence, the rise in the economy is not thesame a being applicable to the rise in the bitcoin market price because bitcoin has its own way it is designed to move and work with price determination through its demands and supplies, knowing that bitcoin is also a volatile cryptocurrency unlike other centralized economic activities controlled by the governments decisions, bitcoin can attain to any length below it's all time high of $68,000 before the end of this year and on the same way many not.

[ultrloa]

I can expect $45k to be the high in 2023, while $20k to be the low.

There is also a possibility that the Bitcoin price will increase towards the end of this year. Everyone knows that there will be a halving and all predictions are that the price will increase. Why wait for 2024 when there are such predictions? I think so too, and I think it would be good to act early. That's why I'm making small purchases now rather than waiting for 2024. When the 2024 halving arrives, we may regret not buying at the current price.

There's possibilitity but we can't confirm that it will come since so many happenings need to consider regarding on what possible scenario to come. But since to many controversy disturb bitcoins growth maybe by the end of this year we can only see small market changes. Maybe we can see the real good action next year since speculation on next halving will came and provably this one could bring good hype to bitcoins and can possibly increase its price.

[YOSHIE]

A recession is coming

All of us have speculations and predictions for ourselves for the continuation of the price of Bitcoin this year and beyond, investors have their own speculations, the government does too and so does the community that is here, factors vary, there are those who see in terms of government, inflation, war, interest rates, markets and so on, the effects of all of that aim for the best for themselves in assessing Bitcoin now and in the future.

The articles that you display here are scattered on the internet/google. You should know that Bitcoin is not only run in the US, Bitcoin is traded worldwide, as well as whales, investors are in every country, Of course I don't argue with the article, but if I see the 1% influence all of that has on the movement of Bitcoin, maybe it's just a coincidence.

Bottom line: the price of Bitcoin for this year 2023 and so on up or down it's all in your own speculation, your belief is the real thing and what determines the price of Bitcoin now and in the future. experience that I see, which has not been discussed in the article, the internet is what will happen to Bitcoin.

[palle11]

A recession is coming

Bitcoin is supposed to be deflationary, but it hasn’t acted like a deflationary asset. As interest rates rise, almost all assets of value fall.

I don't think so . Interest rate doesn't affect bitcoin because bitcoin is not fiat.

If a recession is coming, and it appears it is on the horizon, Bitcoin’s price could fall because investors will turn BTC into cash to pay debt.

I don't think so because during COVID-19, there was no money in circulation but bitcoin price increased during that time unexpectedly.

2. The Biden Administration isn’t a fan

President Biden and Treasury Secretary Yellen are exploring the idea of a digital currency that the U.S. Government controls.

That will not be strange, control of CBDC is usually by the government.

A U.S. digital currency would hinder Bitcoin’s price because the government could decide to temper enthusiasm regarding the world’s first cryptocurrency.

The US government has no direct influence to stop bitcoin but can only regulate exchanges in the country like they are going with binance.

3. Bitcoin utilization hasn’t increased as much as many expected

You can't compare what it was 12 years ago to the utility now. Almost all casinos are using bitcoin for deposit and payment. Some trading platforms are also using it and so for other financial institutions and transactional platforms.

[Nrcewker]

I don’t want to spread negative vibes, hence I don’t wanna know where Bitcoin will land if the price drops. Let’s hope Bitcoins to go high this year, so in 2024, it will cross the ATH price again. I am assuming Bitcoins to touch 35k usd by the end of this year. We have often seen Bitcoins rise high in price in late September. So yes we can’t accurately predict the price, until and unless we reach September. Nevertheless, we should always hold the coins as we know Bitcoins are very rare and definitely the price will go high in near future.

[OgNasty]

Adoption curve shows that Bitcoin has very speedy adoption that is contribute by its utilization.

That chart does do a good job of displaying just how early we still are.  If Bitcoin does continue it's rise, I think the largest increases are still in our future.  Many people still consider Bitcoin a speculative investment, myself included and I don't think that will change until iOS has a BTC wallet and people are using it to buy products from Walmart.  I suspect that won't happen for several more years, maybe 5+, but if and when it does, it wouldn't surprise me to see a 7 figure Bitcoin price.  The world is going to be a strange place when content creators and speculative investors are the ones making big bucks while doctors and lawyers are asking them for advice.

[tabas]

We've been into crises since the pandemic and with war and now everything has been collapsing and inflation rates are increasing. Bitcoin was there when all of those happened and we've seen the 2021 in the midst of these crises and yet Bitcoin performed very well.
We only see the current price of Bitcoin but we don't look at how it performed while being in the midst of those situations. Next year, we've got two important events, the halving and the election in the US. I know that it's not connected to the two but if it's about leadership, we might see some movements again by that year. So if it's about the rise or fall for this year, we'll never know.

[el kaka22]

It has already gone up as much as I hoped it would and that's a good thing to be on right now, I know that a lot of people want to see even more and I am one of those people as well but if we do not see a lot higher, even if we finish this year at 25k level, that would be good enough for me and I do not think that it will be anything big, there is really nothing that could be that bad. I know that it is not going to be a big deal, but holding at this price has no downside for me.

I do believe that it will go up somewhere in the later periods of this year, but I do not know if it is a sure thing, I just hope it does and have a prediction that it will but that's about it, nothing guaranteed and it is only a gut feeling so I couldn't suggest anything to anyone.

[JoyMarsha]

The elections will be held a few months from now. Biden might lose. A possibility as simple as this would bring so much change in the playing field. It could mean a lot. For example it could mean Gensler will be replaced in the SEC. So it isn't really a big factor that the Biden administration isn't a fan. Bitcoin is actually growing in the US under his watch.

I think the worst that could happen to the price is that it will fall all the way to $20,000. At best, I think it is possible for Bitcoin to reach $40,000 in the last quarter of the year.

Many crypto enthusiasts are rooting for Biden to lose the upcoming US election. Let the presidential candidate who values cryptocurrency win.

Despite the SEC's warning against cryptocurrencies, bitcoin has been trading at a stable price of $25k-$28k+ for the past few months, perhaps 2-3 months. It hasn't moved above or below this level, and it hasn't yet dropped under $20k. Since we have already completed half of the year and have two more quarters left, it will be a wonderful sensation if bitcoin soars to the price of $40k before the end of the year.

[Falconer]

I don't consider $50k to be the highest peak of bitcoin price in 2023. Maybe above $30k or maybe below if lots of FUD affects the market. The SEC attack as well as MTGOX's plans to distribute bitcoin to creditors will also have an impact on the market. The SEC may be ending soon, but when MTGOX steps in and shows goodwill, everyone in the market will be affected.

Actually the crypto market during 2023 until the end of the year will always be decorated by some popular FUD, this is an old problem but since the market involves many seasoned traders and investors, the impact will be very obvious. Market panic is difficult to avoid and prices tend to fall.

[robattfield]

The cryptocurrency market has seen instances of government intervention and regulatory measures that can impact short-term price movements. However, Bitcoin's value proposition lies in its decentralized and borderless nature, making it attractive to individuals looking for an alternative form of currency and a store of value. treat. Therefore, the future price of Bitcoin is uncertain and depends on many different factors. Remember that investing in cryptocurrencies can be very volatile and speculative.