Experienced Analysts Have Listed 2023 Predictions for Bitcoin and Cryptocurrencies!

of 2022 cryptocurrency As everyone knows it didn’t go as well as the owners had hoped. More than $2 trillion has been lost from the total crypto market cap, while the Bitcoin (BTC) price has dropped from $69,000 in early November to $15,599.

What Do Analysts See in 2023 for Bitcoin and Cryptocurrencies?

According to Kadena Eco CEO Francesco Melpignano, this weakness is likely to persist through 2023:

“If the crisis from these crashes continues to spread, the economy and BTC could continue to suffer for now. With the recent rate hikes and inflation, it will take some time for the market to recover as we will continue to see all dimensions of the meltdown until 2023.”

Melpignano suggested that the regulatory landscape could change next year, as it will “engage lawmakers and politicians to sit down and create stronger regulation in the wake of the 2022 crypto crash.”

“This has the potential to benefit the crypto market, as more aggressive regulations often mean an increasing trend in interest for entrepreneurs and companies to invest and develop in this space,” Melpignano said.

“Ultimately, what happens in 2022 will push the industry in a beneficial direction for each asset,” Melpignano said:

“These events shake off the rotten apples and clean up negligent businesses so that crypto technology can do what it was designed to do.”

Daniel Keller, CEO of decentralized cloud infrastructure protocol Flux, listed his predictions about Bitcoin as follows:

“We are more likely to see the bear period extended due to the spillover effects of multiple crypto bankruptcies in 2022.

However, other factors such as stock recovery, lower inflation, stability in the Russia-Ukraine war, and even Twitter-crypto integration under Elon could tip things over in the bulls’ favor. While the market will likely be able to test new lows in early 2023, we should see a recovery towards the $20,000 mark as the year goes on.”

BTCM Chief Economist Dr. According to Youwei Yang, if the current weakness persists, it is possible that a recent market crash will cause Bitcoin to drop below $13,000 in the first half of 2023.

If problems begin to improve in a relatively short time, Dr. Yang suggested that BTC could reach $25,000 in the first half of 2023 and $35,000 in the second half.

IntheMoneyStocks Chief Market Strategist Gareth Soloway talked about the potential for continued weakness in the Bitcoin price during an interview. According to Soloway, there is a 45% chance of BTC falling from the $18,000 range, a move similar to what Lehman experienced before bottoming out in March 2009.

And finally, for perpetual bulls seeking high-priced predictions, billionaire venture capitalist Tim Draper has maintained his stance that Bitcoin will reach $250,000 by mid-2023, despite the significant weakness seen in 2022.

Draper previously predicted a Bitcoin price of $250,000 for the end of 2022, but during the Web Summit tech conference in Lison in early November, he changed his perspective and said that it would take until June 2023 to reach this price target.

*Not investment advice.