{"id":514470,"date":"2023-01-02T19:00:01","date_gmt":"2023-01-03T00:00:01","guid":{"rendered":"https:\/\/uniquehot.com\/?p=514470"},"modified":"2024-06-11T13:41:46","modified_gmt":"2024-06-11T13:41:46","slug":"bitcoin-price-predictions-2023-1400-rally","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-predictions-2023-1400-rally\/","title":{"rendered":"Craziest Bitcoin Price Predictions For 2023, 1,400% Rally Possible?"},"content":{"rendered":"

The start of a new year kicked off Bitcoin price and crypto market forecasts across social media and mainstream media platforms. Experts are debating whether bulls or bears will drive 2023\u2019s price action. Last year, bears took over and sent the benchmark crypto back to its 2020 levels.\u00a0<\/span><\/strong><\/p>\n

Related Reading: Cardano Enters 2023 With A Bang, But ADA Still Bearish In The Short Term<\/a><\/div>\n

As of this writing, the Bitcoin price trades at $16,700, recording a small profit during today\u2019s trading session. On higher timeframes, the cryptocurrency continues to record sideways price action. The latter could operate as the dominant price action for 2023.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC’s price moving sideways on the daily chart. Source: BTCUSDT Tradingview<\/strong><\/a><\/figcaption><\/figure>\n

The Best Is Yet To Come For The Bitcoin Price<\/h2>\n

Per a report<\/a> from CNBC, the Bitcoin price is bound for an extreme shift in its trajectory. Optimistic experts, such as BTC bull Tim Draper, believe the cryptocurrency will trend higher from its current levels.\u00a0<\/span><\/p>\n

Draper believes the benchmark crypto will experience a 1,400% rally, reclaim previously lost territory, and break above $250,000 by mid-2023. The BTC bulls believe macroeconomic conditions will push adoption much higher.\u00a0<\/span><\/p>\n

One demographic will lead this potential new wave of adoption that will coincide with the upcoming Bitcoin halving. This event is scheduled for 2024, but in the past, the market has priced its impact much earlier. Draper said:<\/span><\/p>\n

My assumption is that since women control 80% of retail spending, and only 1 in 7 bitcoin wallets are currently held by women that the dam is about to break.<\/p><\/blockquote>\n

Professor of finance at Sussex University, Carol Alexander, believes Bitcoin could see two short-term rallies. The first could take the Bitcoin price back to $30,000, and the second to $50,000 on the back of less trading volume and prominent players.<\/span><\/p>\n

As FTX and Three Arrows Capital collapse, Alexander expects less competition in the market, which could provide other prominent players with room to push BTC upwards. The professor explained:<\/span><\/p>\n

There will be a managed bull market in 2023, not a bubble \u2014 so we won\u2019t see the price overshooting as before. We\u2019ll see a month or two of stable trending prices interspersed with range-bounded periods and probably a couple of short-lived crashes.<\/p><\/blockquote>\n

Exploring Less Favorable Scenarios, How Low Can BTC Go?<\/h3>\n

Better macroeconomic landscape, adoption, halving and supply squeeze, and less competition. These are the factors that could work in favor of the cryptocurrency.\u00a0<\/span><\/p>\n

On the other hand, Eric Robertsen from Standard Charted claims the Bitcoin price could return to its 2020 levels and touch $5,000. A lack of trust from investors and more capitulation from crypto companies could prompt this scenario.\u00a0<\/span><\/p>\n

The low liquidity levels in the sector make things worse. The current state of the market could experience another leg lower if the U.S. Federal Reserve (Fed) doubles down on its hawkish monetary policy.\u00a0<\/span><\/p>\n

Related Reading: SOL Jumps 15% In 24 Hours As Solana Receives Support From Ethereum Founder<\/a><\/div>\n

According to Mark Mobius, who successfully predicted the BTC crash from $30,000 to $20,000 in 2022, if the Fed continues to tighten, the cryptocurrency could drop to around $10,000. Mobius said:<\/span><\/p>\n

With higher interest rates, holding or buying Bitcoin or other cryptocurrencies becomes less attractive since just holding the coin does not pay interest.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

The start of a new year kicked off Bitcoin price and crypto market forecasts across social media and mainstream media platforms. Experts are debating whether bulls or bears will drive 2023\u2019s price action. Last year, bears took over and sent the benchmark crypto back to its 2020 levels.\u00a0 Related Reading: Cardano Enters 2023 With A Bang, But ADA Still Bearish In The Short Term As of this writing, the Bitcoin price trades at $16,700, recording a small profit during today\u2019s trading session. On higher timeframes, the cryptocurrency continues to record sideways price action. The latter could operate as the dominant price action for 2023.\u00a0 The Best Is Yet To Come For The Bitcoin Price Per a report from CNBC, the Bitcoin price is bound for an extreme shift in its trajectory. Optimistic experts, such as BTC bull Tim Draper, believe the cryptocurrency will trend higher from its current levels.\u00a0 Draper believes the benchmark crypto will experience a 1,400% rally, reclaim previously lost territory, and break above $250,000 by mid-2023. The BTC bulls believe macroeconomic conditions will push adoption much higher.\u00a0 One demographic will lead this potential new wave of adoption that will coincide with the upcoming Bitcoin halving. This event is scheduled for 2024, but in the past, the market has priced its impact much earlier. Draper said: My assumption is that since women control 80% of retail spending, and only 1 in 7 bitcoin wallets are currently held by women that the dam is about to break. Professor of finance at Sussex University, Carol Alexander, believes Bitcoin could see two short-term rallies. The first could take the Bitcoin price back to $30,000, and the second to $50,000 on the back of less trading volume and prominent players. As FTX and Three Arrows Capital collapse, Alexander expects less competition in the market, which could provide other prominent players with room to push BTC upwards. The professor explained: There will be a managed bull market in 2023, not a bubble \u2014 so we won\u2019t see the price overshooting as before. We\u2019ll see a month or two of stable trending prices interspersed with range-bounded periods and probably a couple of short-lived crashes. Exploring Less Favorable Scenarios, How Low Can BTC Go? Better macroeconomic landscape, adoption, halving and supply squeeze, and less competition. These are the factors that could work in favor of the cryptocurrency.\u00a0 On the other hand, Eric Robertsen from Standard Charted claims the Bitcoin price could return to its 2020 levels and touch $5,000. A lack of trust from investors and more capitulation from crypto companies could prompt this scenario.\u00a0 The low liquidity levels in the sector make things worse. The current state of the market could experience another leg lower if the U.S. Federal Reserve (Fed) doubles down on its hawkish monetary policy.\u00a0 Related Reading: SOL Jumps 15% In 24 Hours As Solana Receives Support From Ethereum Founder According to Mark Mobius, who successfully predicted the BTC crash from $30,000 to $20,000 in 2022, if the Fed continues to tighten, the cryptocurrency could drop to around $10,000. Mobius said: With higher interest rates, holding or buying Bitcoin or other cryptocurrencies becomes less attractive since just holding the coin does not pay interest.<\/p>\n","protected":false},"author":535,"featured_media":511468,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790],"class_list":["post-514470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\nCraziest Bitcoin Price Predictions For 2023, 1,400% Rally Possible?<\/title>\n<meta name=\"description\" content=\"The start of a new year kicked off Bitcoin price and crypto market forecasts across social media and mainstream media platforms. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Craziest Bitcoin Price Predictions For 2023, 1,400% Rally Possible?","url":"http:\/\/uniquehot.com\/news\/bitcoin-price-predictions-2023-1400-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-price-predictions-2023-1400-rally\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/iStock-1356849427.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/iStock-1356849427.jpg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt"],"dateCreated":"2023-01-03T00:00:01Z","datePublished":"2023-01-03T00:00:01Z","dateModified":"2024-06-11T13:41:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Craziest Bitcoin Price Predictions For 2023, 1,400% Rally Possible?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-predictions-2023-1400-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-price-predictions-2023-1400-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/iStock-1356849427.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/iStock-1356849427.jpg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\"],\"dateCreated\":\"2023-01-03T00:00:01Z\",\"datePublished\":\"2023-01-03T00:00:01Z\",\"dateModified\":\"2024-06-11T13:41:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2022\/12\/iStock-1356849427.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/514470"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=514470"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/514470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/511468"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=514470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=514470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=514470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}