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Cryptocurrencies have experienced many ups and downs since the moment they were launched. Digital currencies are volatile assets, which can be seen in the changes that appear year after year. 2022, for example, was a very tough year for all the virtual coins, including the biggest ones, Bitcoin and Ethereum. Bitcoin, which at the moment is the largest crypto in the world, lost approximately 65% of its market value in that year. 2022 was a hard year for the crypto enthusiasts as well because they were caught off guard by plenty of unpredictable events, such as the FTX fall, the Terra Luna crash and macroeconomic conditions.
The start of 2023 seemed strong as the crypto world showed signs of recovery. Bitcoin succeeded in rising in July at around $31,000, but then it came down to $25,000 in September. Now, many questions cross the minds of investors and crypto enthusiasts as they wonder what will happen by the end of the year and if Bitcoin will rise again or crash.
So, let’s navigate together the possibilities of Bitcoin prices in the future.
Can Bitcoin recover again?
Since the threshold of $31,000 in July, Bitcoin has begun to show again a bearish trend, as the BTC was traded below $30K levels. Bitcoin seems to be under slight pressure as inflation continues to be a challenging issue in many economies, including the UK and the USA.
But this is not the first time that the world’s largest cryptocurrency is under pressure. Bitcoin has seen some major falls that pushed digital assets below the usual levels over the years. April 2023 was the first time BTC touched the key resistance of $30,000 level since June 10, 2022. But after, it started to dip again below the $26,000 level. Crypto experts believe that Bitcoin should stick to the $31,000 level and even more to be able to touch $60,000 by 2023.
However, the recovery will not happen overnight, as the first digital asset created is still down by almost 50% from the period when it was all-time high. At the beginning of the year, BTC was below the level of $20,000. Still, due to factors such as the weakening of the dollar index, the deepening banking crisis in the USA and the cooling inflation, Bitcoin and the other altcoins lead the path of resistance.
Cryptocurrencies are characterized by high volatility, so the future of Bitcoin remains unknown, and all investors need to be very cautious with each of their moves, as Bitcoin had a tumultuous year. Before considering BTC, crypto enthusiasts need to remember the fact that the first digital asset is still trading low, with almost 50% less than it did at its all-time high. One of the main reasons behind the volatility of cryptos can be attributed to the challenging macroeconomic conditions in numerous countries, including the UK and the USA.
Also, there are still countries that are firm with crypto-related transactions, like India, for example. Still, experts are hopeful that the following years can be better for Bitcoin, and this can be seen from the crypto innovations that appeared lately. For example, with the help of automated trading bots, like the ones on Coinrule, people can now trade cryptocurrencies more easily than ever.
Will Bitcoin reach $100,000 by 2023?
Bitcoin has rallied approximately 80% more than at the start of the year. BTC surpassed several major assets, and the ones who opted for Bitcoin this year had some huge returns. This is why crypto enthusiasts are excited to see a new peak of Bitcoin and hope for more both this year and the future.
Although it didn’t reach its all-time high in 2023, this year was still good for Bitcoin. Many experts believe that the last months will continue to be good for the world’s biggest cryptocurrency. Still, some people don’t agree with this fact. There are a large number of investors who have a bearish view of the Bitcoin advancement this year. They believe that what happened with Bitcoin so far is a “bull trap,” not a “bull run.”
Opinions are divided, so no one can point out exactly what the future will bring. Still, one thing is sure: now, investors benefit from plenty of innovations that make their trading experience easier. For example, with the help of the best crypto trading bot, people can have the best results with their favorite cryptocurrency.
Can BTC reach $1,000,000 by 2025?
Bitcoin lovers have always been positive about what the future holds for their favorite digital asset. And since Bitcoin had a mini-bull run in 2023, people have begun to discuss that the world’s largest digital coin might witness a level of $1,000,000 by 2025. Many leaders worldwide believe in this fact and are hopeful about the future of BTC.
Still, experts don’t share the same view, as they think that Bitcoin might touch $1,000,000 in the coming years but not as soon as in 2025.
The bottom line
Among the various predictions that this year has brought so far, no one can point out exactly what will happen with Bitcoin in the future. BTC has seen various downfalls over the years, and somehow, it succeeded in becoming stronger each time. Its specific resilience is the one that makes people believe that the world’s largest cryptocurrency will reach a new time high. But whether Bitcoin will rise or turn to dust, only time can tell, so we need to wait and see.
However, Bitcoin is a volatile asset, and this is why trading BTC should be done with plenty of awareness so that the investment will give the expected returns. Also, if you are interested in investing in digital assets, you should invest only the amount you are comfortable losing. Bitcoin can give you some good results, but at the same time, you can also lose your investments, so be careful whenever you navigate the crypto space.
