Bitcoin Price Prediction: Can BTC Break the $20,000 Resistance in 2023?
Bitcoin price prediction remains unchanged as BTC consolidates in a narrow range of $16,450 to $16,750. The two most valuable cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), are currently trading at around $16,500 and $1,100, respectively, after failing to break out of their consolidation ranges.
The gloomy cryptocurrency market, which typically underpins riskier assets such as Bitcoin (BTC) and Ethereum, could be to blame for the currency's downward rally.
Cryptocurrency prices, including Bitcoin (BTC) and Ethereum (ETH), have stabilized in 2022, with the global market cap falling below $800 billion for the first time in months. This is due to a number of factors, including geopolitical volatility, rising COVID concerns, the Fed's tightening of policy, and the Terra/Luna ecosystem implosion.
Ethereum, the second largest cryptocurrency, is trading at around $1,200, but Bitcoin remains well above the $16,500 mark. If news coverage remains positive, crypto assets such as Bitcoin are expected to retain their value until at least 2023.
As previously stated, the slow price movement of the major cryptocurrencies may be the cause of ongoing financial turbulence and Covid fear, which are discouraging investors from investing in riskier assets. The majority of bitcoin users have liquidated or intend to liquidate their cryptocurrency wallets due to the deterioration in economic conditions.
Emiliano Grodzki, co-founder and CEO of the Canadian Bitcoin mining company Bitfarms, resigned on December 29, according to a press release. It is worth noting that Emiliano Grodzki and Nicolas Bonta founded the mining company in 2017.
Although Emiliano Grodzki will remain a director, Bonta will take over as chairman of the board. As a result
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