The year is coming to an end and it’s fair to draw conclusions about the crypto world. Therefore, a clear picture of the price predictions of the three most important cryptoassets in the market is needed. These are leading crypto Bitcoin (BTC), leading altcoin Ethereum (ETH) and FTX victim Solana (SOL). Crypto expert Alessia Pannone covers this topic in detail.
Bitcoin predictions: black swan in 2023?
cryptocoin.comAs you follow, under the trends of tightening regulation and the upcoming recession, there are many factors that could cause Bitcoin to face a black swan event in 2023. In fact, a key lower support level for Bitcoin would be $10,000. In 2023, the Fed’s monetary policy will likely move away from tightening controls. Otherwise, the economy will enter a deeper recession. When more flexible policies are in question and regulation becomes more enforceable, Bitcoin and altcoin projects will start to recover.
Bitcoin’s trend is by no means stable. However, there is optimism about its upward trajectory. With the certainty of a Bitcoin halving in 2024 and the increasing demand and adoption of cryptocurrencies, it is possible for the price to enter the $30,000-$50,000 range. Also, it is likely to close at the around $40,000 resistance level by the end of 2023. Other cryptocurrencies will do the same, perhaps doubling their price.
In general, there will be no major events in the first quarter of 2023 that will radically change the market movement. The cryptocurrency industry is still under pressure. This means that rapid development and improvement should not be expected. Most likely, in the first three months of 2023, Bitcoin will fluctuate between $17,000 and $18,000. It will also grow periodically, except for a few points where it will drop below set levels. In this process, there will only be setbacks. A meltdown is possible before February 2023. However, a full recovery is possible on the eve of the halving in March 2024.
Let’s dig deeper: Bitcoin and Bitcoin Cash
It is possible to evaluate Bitcoin and Bitcoin Cash as two investments at several points. The first is the market cycle in 2023, which will have better overall liquidity. Still, the probability of liquidity decreasing overall is relatively high. Therefore, it would be better to be inclined to invest in BTC, which has high acceptance and stability.
For the latter, there are external incentive events. The half-life of BCH is probably around April 7, 2024. BTC’s will be around May 2, 2024. Therefore, it is more inclined to invest in BTC to get the majority. It is appropriate to allocate BCH to small positions. Finally, it is necessary to consider the buying strategies on the left and right, which are different.
In fact, BTC is available to buy in lots on the left side of the lower swing range. Also, BCH is suitable for capital intervention and buy later on the right side after breaking the key pressure level to make more profits in the short term. Therefore, in terms of positions, BTC should occupy the majority and BCH should occupy the minor position. To summarize: In 2023, BTC can be allocated in left-hand lots representing 95% of the total position. In addition, BCH is purchased, which represents 5% on the right.
Positive or negative leading altcoin Ethereum predictions
It is quite difficult to predict the price action of ETH in the next 12 months. Because altcoin is very volatile. In addition, the value of an asset may be affected by external events that cannot be predicted at this time. Therefore, it is necessary to consider two scenarios: negative and positive.
In the case of a negative scenario, the value of the altcoin can be expected to decline to the levels of 1.077-1,100 dollars. In such a scenario, the key role will be played by the short speculators, who continue to maintain the downtrend. In addition, the fear and greed index is currently in the red zone. This is a sign of the downward trend that will continue until the first quarter of 2023. That’s why he gives sales advice. A meltdown cannot be expected on the market before the spring of 2023.
At that time, ETH will most likely find the bottom. Then it will slowly start to recover. It is possible for ETH to reach $1,400 by the fall of 2023. Also, it’s likely to hold up until the end of 2023. However, if a positive scenario is realized, warming will take place in March-April 2023. The activity of Metaverse users and NFTs will increase the price of the token. In this case, it is possible for the altcoin price to return to the $1,350-1,400 level with further growth.
By the end of 2023, ETH can reach a value of $ 1,500 and hold at this level. A similar picture will be observed in the NFT market. Trading volumes will decrease and the number of traders in NFTs will decrease.
2023 predictions for altcoin Solana, victim of FTX
Unfortunately, as we know, the collapse of FTX had a huge impact on Solana’s ecosystem. Solana’s TVL actually dropped more than 70%. Thus, it decreased from 1 billion dollars in November to 280 million dollars on 14 December. Most of their projects generally have a high market value, however, the purchase volume is low. Because it was seriously affected by FTX and Alameda. On the other hand, this was also a more systematic stress test for Solana. Altcoin is far from being eliminated.
Alongside the impact of FTX and Alameda, 2023 is an opportunity for Solana to demonstrate that it can become a more decentralized and equitable public blockchain. More than 750 projects were presented in the last hackathon. Solana may take longer to recover from the effects of FTX. However, it is necessary to pay attention to the developers and projects that will still stand out in 2023. Thus, it becomes possible to understand whether Solana can rise again.
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