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Sunday, January 29, 2023

Bitcoin (BTC) Price Prediction and Forecast: The collapse of FTX will not kill BTC, it will make it stronger in 2023

Most cryptocurrency experts still believe in the successful future of Bitcoin, despite the recent fall in digital assets due to the bankruptcy of one of the largest exchanges in the world, FTX. Finbold experts have collected the most popular analyst forecasts regarding the cost of BTC in 2023.

According to crypto analytics firm TradingShot, if BTC holds ground over the next week, investors should expect significant gains in 2023. As TradingShot’s fractal analysis showed, Bitcoin’s support level is $16,628, if the flagship cryptocurrency manages to stay at this level, it could rise to $95,000.

Another indicator of technical analysis is the 200-week moving average, which remains positive for BTC, said a cryptocurrency analyst known by the pseudonym PlanB. According to the chart, the price of BTC has held above the 200-week MA throughout all the falls that have occurred in the market in recent months.

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“The collapse of FTX will not kill BTC, it will make it stronger,” PlanB emphasized.

The owner of Twitter, Elon Musk, is also convinced that Bitcoin will take its toll. As he wrote on his social network, BTC will definitely reach new highs, but this takes time. With his comment, the billionaire agreed with the assumption of investor Jason Calacanis, who said that everything would be fine with the BTC.

Forecast for Bitcoin – why is it needed?

Traders Union makes a forecast for bitcoin so that users can view the history of price changes and indicative prospects. This will allow you to improve your own trading strategy and make transactions with less risk.

  • Forecasting is done by experienced people – experts with many years of experience and financial analysts;
  •  Forecasts are stored on the platform for a year after being posted, so users have the opportunity to view historical data and draw reasoned conclusions;
  •  forecasts are made taking into account various factors – political and economic events, important financial news;
  • in addition to the forecast, you can see an interactive chart of BTC price dynamics and get up-to-date data on the cost of the first cryptocurrency

Why track the BTC chart in real time?

An interactive bitcoin chart consists of many time frames. Using it, it is easier for traders to analyze how the value of a crypto asset changed over a certain period of time, which influenced the rate. This allows you to predict future dynamics, to determine in advance the fall or rise in prices.

What determines the price of BTC?

The value of bitcoin is influenced by various factors, including:

1. Behavior of other cryptocurrencies. If the Shiba inu (SHIB) price prediction indicates a fall in the exchange rate, it is possible that this will also affect bitcoin. The underlying crypto assets are interdependent.

2. Blockchain application and its structuring. The value of the first cryptocurrency is affected by the number of mined coins (issue – 21 million), as well as future mining opportunities.

3. Media activity, as well as the stability of the cryptocurrency community.

4. Important speeches by the heads of large companies regarding the use of the first cryptocurrency in the financial and other sectors.

5. Bitcoin regulation, political events aimed at introducing BTC into the economies of developed countries.

Summary

You can always find up-to-date expert materials on the official Traders Union portal. Analysts publish fresh Bitcoin forecasts on a weekly basis so that users can save time on self-analysis and know in which direction the Bitcoin price will move. Traders Union is a reliable assistant for traders who need qualified support and expert help in making money in the financial markets.

Bitcoin exchange rate forecast for tomorrow, week and month.

Bitcoin price forecast for Friday, December 2nd: $17495, high 18720, low 16270. Bitcoin price forecast for Monday, December 5th: $18208, high 19483, low 16933. Bitcoin price forecast for Tuesday, December 6th : $17905, high 19158, low 16652. Bitcoin price forecast for Wednesday, December 7th: $17892, high 19144, low 16640.

Bitcoin price forecast for December 2022 . The rate at the beginning of the month is $17,159. The maximum rate is $19881, the minimum is $15634. The average exchange rate for the month is $17718. Bitcoin rate forecast at the end of the month $18198, change for December 6.1%.

Bitcoin price forecast for January 2023 . The course at the beginning of the month is $18,198. The maximum rate is $20651, the minimum is $13103. The average exchange rate for the month is $17813. Bitcoin rate forecast at the end of the month $19300, change for January 6.1%.

Bitcoin exchange rate forecast for February 2023 . The course at the beginning of the month is $19,300. The maximum rate is $19300, the minimum is $15077. The average exchange rate for the month is $17472. The forecast for the bitcoin rate at the end of the month is $16212, the change for February is -16.0%.

Bitcoin price forecast for March 2023 . The rate at the beginning of the month is 16212 dollars. The maximum rate is $18299, the minimum is $15905. The average exchange rate for the month is $16880. Bitcoin price forecast at the end of the month $17102, change for March 5.5%.

Bitcoin price forecast for April 2023 . The rate at the beginning of the month is 17102 dollars. The maximum rate is $17729, the minimum is $15409. The average exchange rate for the month is $16702. Bitcoin price forecast at the end of the month $16569, change for April -3.1%

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