Will Bitcoin continue to grow in 2023? Check out the BTC 2023 predictions

Bitcoin is growing. What will happen to it in 2023?

If you haven’t been living under a rock, you probably know that 2022 was one of the roughest years for all cryptocurrencies, and that includes the largest cryptocurrency in the world - Bitcoin. In 2022 alone, the crypto lost almost 65% of its market value, and many believed that it was never going to bounce back. However, a few months later, and we saw Bitcoin climbing to $30,453.50 - the first soar over the $30,000 mark since June last year - much like the soar of new live roulette offers.

The looming macroeconomic conditions, accompanied by the high inflation in Western countries, the fall out of the FTX crypto exchange, and the Terra Luna crash all led to Bitcoin plummeting in 2022, but it’s been regaining momentum in early 2023 and looks solid for the second, third, and fourth quarters of 2023. But many people wonder what will happen next and how will Bitcoin fare in 2023. Will it ever rise again to its previous heights? Stay tuned.

Will There Be Another Crypto Crash or We’ll See an Exciting Climb?

The price of Bitcoin has increased by 15.38% during last month, indicating that the strong potential will continue throughout mid-2023. For the past 5 days, BTC has increased from the low $28,000s to comfortably over $30,000, which is an increase of over 7.1%.

This comes after a very rough 2022, which hit hard all cryptocurrencies, including BTC. The largest crypto in the world lost almost 65% of its market value, which was the largest crash since the Bitcoin network was launched in 2009. However, just like Auto Roulette by Evolution, it displayed its dominance by reaching a nine-month high in April 2023, trading above 45%. This is the first time the highly volatile crypto has been trading that high since June 2022, which indicates a strong rebound. However, most of the altcoins, including Avalanche (AVAX), Litecoin (LTC), and Cardano (ADA), have slumped, with none of them being able to reach pre-2022 levels.

So, although some cryptos might not get back to the all-time high 2021 levels, experts suggest that Bitcoin is poised for a full recovery in 2023, and many expect another long bull run.

Can Bitcoin Reach the $100,000 Mark This Year?

Bitcoin reached a market value of almost $69,000 in November 2021, marking its all-time high. Although it has fallen about 57%, industry insiders remain bullish and believe that BTC could reach new heights in 2023 - possibly outpassing the $100k mark.

The positive view on Bitcoin’s future stems from how the cryptocurrency performed during the failure of the Silvergate Capital and Signature Bank - two of the friendliest crypto lenders, as well as the Silicon Valley Bank collapse in March. However, despite what many expected, Bitcoin didn’t crash. Instead, it rallied - which might be another indication that alternatives to the traditional banking system might be the safest option during banking turmoils.

Although reaching the $100,000 mark in 2023 seems unlikely, it wouldn’t come as big of a surprise as some belief - especially when considering the recent rise.

Will Bitcoin Become The ‘Digital Gold’?

Despite the recent indicators of a ‘big comeback, investors must remain watchful about every move of Bitcoin. The future remains unknown, and BTC is still trading at an almost 55% low from the all-time high. The macroeconomic conditions of major markets do affect BTC, but there’s been a change in notion recently. Following the collapse of several major US banks, many investors got scared by the traditional banking system - and see BTC as a safe-haven asset that can provide a hedge against inflation in such times.

Although Bitcoin has traded in correlation with stocks in recent years, early signs show that we might see a decoupling from tech giants, with BTC outperforming tech heavies and even gold in 2023.