- Bitcoin valus has decreased by 75.76% this year.
- Bitcoin valus has fallen by 18% in the last 2 months.
- Next year BTC will be trading at $31,479, while the average comes in at $27,113.
Bitcoin (BTC) is the oldest cryptocurrency. Satoshi Nakamoto came up with it in 2009, making it the oldest. Bitcoin (BTC) has withstood this year’s challenges in the crypto space and maintained its position as the leading cryptocurrency. Throughout its history, BTC has been the undisputed leader in its field, opening doors to countless possibilities and projects.
Bitcoin’s value, however, has fallen by 75.76 percent this year, making it the most expensive digital currency to lose value this year. Bitcoin’s price was $16,673.72 at the time of writing, BTC was down 1.18% from its previous high. As we near the end of 2022 and the beginning of 2023, we offer the following Bitcoin price forecast:
The year 2022 was not the best for cryptocurrency prices. The price of cryptocurrencies has dropped because of a long bear market, the collapse of Terra in May, and the collapse of FTX just recently.
For as long as anyone can remember, the cryptocurrency industry has been looking forward to 2023 as the start of a bullish trend. In January of 2023, do you think BTC will go high or low?
Bitcoin’s value has fallen by 18% over the past 60 days, 13.25% over the past 90 days, and 64.82% over the course of the year, as measured by CoinMarketCap.
To what extent January 2023 will be bearish or bullish is highly uncertain given the current state of the market. The staff at Changelly has released their 2023 price forecasts. Based on historical data, they estimate that the bare minimum price of Bitcoin will be somewhere around $26,366.85.
Predictions place the high trading price at $31,479, while the average comes in at $27,113. This is only a guess, and the actual outcome may have nothing to do with the many things that are scheduled to occur in 2023.
Recent BTC Technical Analysis
According to the most recent price analysis of Bitcoin, the bulls are in control of the BTC market. This is shown by the fact that the 100-day Moving Average (MA) is moving higher than the 200-day MA, which suggests that a bullish sentiment may continue to exist in BTC prices in the hours to come. The readings in the 100-MA and the 200-MA at the moment are 16966.13 and 16916.66 respectively.
A bearish sentiment is also indicated by the MACD line, which is located below its signal line and is moving in the negative region. This serves as a cautionary signal to traders, as the bearish sentiment may continue in the BTC market in the coming hours. Additionally, the formation of the trajectory histogram on the negative region strengthens the likelihood of a bearish run in the hours to come.
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