Bitcoin (bTC)Future Predictions 2023-2024: Experts Analyze Price Trends, Factors, and Trajectories
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Will Bitcoin keep up the pace in 2023?
Or Will it crash before hitting $40K mark?
What do experts analysis about the price trend?
Let’s check it out !!!!
Bitcoin, has been increasingly gaining attention in the finance world due to its potential as an alternative investment. With its volatile nature and lack of regulation, predicting the future price of BTC is no easy task. This article will discuss various predictions for Bitcoin’s future prices in 2023 and 2024. We will look at potential factors that could influence the price.
Before going to the future, let’s first analyze the BTC price trend in the last few months.
Bitcoin’s Past Analysis
BTC is leading the Cryptocurrency market with a market dominance of 46.7% followed by Ethereum with 19%. The global crypto Industry is growing tremendously with a crypto market cap of $1.17T.
The crypto market in 2022 was dull and was sloping down gradually. BTC ended with a price of $16,547.50 with a market cap of $318,516,317,872 on Dec 31, 2022.
The investors along with the crypto experts were keen on how the BTC will perform in 2023 as 2022 was not so successful year for the crypto investors. There have been huge expectations building up for the crypto market. The performance of BTC will have a great impact on the other cryptocurrencies as well as the crypto Industry.
The hopes didn’t go in vain, the January month ended with a surge of $23,139.28, predicting a bullish year, giving opportunities to investors and traders. Along with BTC, the crypto Industry too has had a promising month. The February month was flat as the price was steady the whole month without much rise or fall, ending at $23,147.35.
The month of March has been loaded with a lot of events and happenings that have a significant impact on the Crypto Market. The events including the Silicon Valley and Signature bank Shutdown, created turmoil in the banking Industry. The experts and Investors feared it may impact the crypto market as well.
However, it didn’t have much impact on the Industry except for USDC and stablecoin had a fall in prices. The month of March also witnessed great launches in the crypto industry including Uniswap v3 on BNB smart Chain, Arbitrum Airdrop, zkSync Era, and Polygon zkEVM launches.
The Surge of BTC
BTC saw a huge surge in March ending with $28,478.48 leading towards the most anticipated mark of $30K. Ethereum too surged to $1,822.02 moving towards the $2k mark.
On April 11, the highly awaited moment happened, BTC touched the mark of $30K after a very long time. The month of April experienced slight ups and downs, trembling between $28K and $30K. And finally settled to $29,268.81 at the end of the month.
The BTC is experiencing a downward trend for the last few days and Industry experts believe this trend will continue in the coming days. BTC failed to recover and slumped to below $29K.
BTC Today’s Price
The current price of BTC at the time of writing is $28,067.82 with a 24h trading volume of $15,706,148,459. The market cap is $543,450,387,978 with a surge of 2.70 since last week.
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Bitcoin Future Predictions
According to the latest predictions, the next BTC halving date is scheduled to take place at block 840,000 predicted to occur on April 27,2024. The block reward is to drop from 6.25 BTC per block to 3.125.
Industry experts predict a bearish market trend this month, However, it may recover and have a slight surge in the next month. BTC price for 2023 could range from $23000 to $40,000.
Robert Kiyosaki, the author of Rich Dad Poor Dad, predicts BTC to reach $100,000. According to a research report by Standard Chartered Bank, BTC could potentially reach $100,000 this year. Some analysts believe that the price could jump much higher than that in the coming years.
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Reasons for BTC to Lead the Crypto Market
Some of the major reasons could be that it is a good alternative to gold and also can handle inflation, which is a major concern. The crisis of banks can lead to the surge of BTC. As most of the BTC coins have been mined out of 21 million coins, there is only a limited number to be mined which can increase its value due to the supply and demand rule.
Some of the BTC concerns include slow transaction speed and an increase in transaction fees that lead to slow growth while other cryptocurrencies are expanding with lots of improvements to overcome their limitations. Some people believe that the hype of BTC is just a bubble.
Let’s see what the future of BTC will be in 2023.
Investing in Cryptocurrencies like Bitcoin is highly risky as cryptocurrency is an extremely volatile market. Do your research before investing in any cryptocurrencies.