Bitcoin Will Reach $ 20,933 By January 21, 2023, up 0.75% Next Week
Industry insiders interviewed by CNBC last week at a crypto conference in St. Moritz, Switzerland, warned against investing in crypto after 2023. But Bitcoin will trade within a range, remain sensitive to macroeconomic factors like interest rate rises, and trade within a range of prices despite its volatility. Yet, respondents say that a new bull run is unlikely this year.
In line with risk assets like stocks, bitcoin rose at the start of the year, but experts don’t expect it to retest its all-time high of just under $69,000. Despite this, experts remain optimistic about the future. For the next few weeks, here is our price prediction.
Expert Prediction of the Average BTC Rate in January 2023
We predict the BTC price will be $17,714.11 in January 2023. This includes the $21,517.67 minimum and the maximum of $45,254.35. Based on our current Bitcoin price prediction, Bitcoin will reach $ 20,933 by January 21, 2023, up 0.75%.
Our technical indicators show neutral sentiment, and our Fear & Greed Index shows 45 (Fear). The Bitcoin price volatility over the last 30 days was 6.34%, with 18 out of 30 (60%) days being green. Based on our Bitcoin forecast, now is an excellent time to buy Bitcoin.
As of January 16, 2023, at 11:28, 20 technical analysis indicators show bullish signals, and 14 show bearish signals, suggesting a neutral sentiment toward Bitcoin.
Crypto experts predict that the average BTC rate in January 2023 will be $20,890.09, based on Bitcoin’s price fluctuations in January 2022. According to its specification, its minimum price is $19,099.51, and the maximum price is $21,486.95.
Its highest level since April 5 was 52 on January 15, and since the beginning of the week, BTC has gained 24%.
By February 15, 2023, Bitcoin’s 200-day SMA will reach $ 19,669 based on our technical indicators. We estimate that Bitcoin’s 50-Day Simple Moving Average will reach $20,194 by February 15, 2023.
Bitcoin Value: What Influences It?
In contrast to most altcoins, Bitcoin is not heavily influenced by the rest of the cryptocurrency market and generally sets the trends.
But it’s important to remember that many factors can affect the Bitcoin price.
Bitcoin remains responsive to huge crypto news, mainly when it affects the entire industry or other popular coins such as Ethereum or Shiba Inu. Non-crypto news also affects Bitcoin’s price – as evidenced by its price action in the spring of 2020. Investors should also monitor the ecology sector.
Any Bitcoin-related news, whether it’s about Bitcoin itself, crypto exchanges, or blockchain technology, will affect the price. Whenever there is news about mass adoption, new technological advances, etc., crypto prices rise. Conversely, any uncertainty could damage its value.
How Profitable is Investing in Bitcoin?
The current forecast for Bitcoin in 2023 is neutral, based on multiple technical and quantitative indicators. In 2023, Bitcoin may be a wise investment. If you’re considering whether to buy bitcoin, consider both technical and fundamental factors (price history, on-chain activity).
We forecast Bitcoin will reach $ 20,933 by January 21, 2023, up 0.75% over the next week. We expect Bitcoin’s price to increase by 27.41% in the next month, reaching $ 26,473 by February 15, 2023.
We know crypto markets for overcoming challenges and comeback after everyone writes them off, including Bitcoin. Every month without fail for the past eight years, financial experts have predicted the Bitcoin bubble would pop “soon.” Despite this, BTC investors still enjoy high profits, and the coin remains on top.
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