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Tuesday, January 24, 2023

BTC Price Forecast 2023: Bitcoin Jumps Nearly $18,000 Amid US Inflation Data Released

The consumer price index (CPI) in the United States as of November 2022 was 7.1% year-on-year, while the forecast was 7.3%. Against this background, the price of bitcoin jumped to almost $18,000.

At the time of writing, the first cryptocurrency is trading at $17,900.

Credit: Trading View

Earlier, the price of bitcoin exceeded $17,000. The cost began to rise against the backdrop of a speech by the head of the US Federal Reserve System (FRS), Jerome Pavel. He said that the fight against inflation in the country continues.

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Is $100,000 BTC price inevitable?

Despite the clouded mood on the crypto market, the Bitcoin indicators are good. Why $100,000 is just a matter of time.

Just under a year ago, the Bitcoin course seemed to be unstoppable and the magical $100,000 mark was just a matter of form. That has changed, 2022 was sobering for many crypto investors. Instead of big profits: crime, bankruptcy, fraud. The total market capitalization has been shrinking for months, and after the momentous FTX collapse, confidence also seems to have been cracked. Why Bitcoin could still climb the price plateau, with regulators and central banks helping out and why the US$ 100,000 mark seems unavoidable in the long term.

Regulation: Door opener for mass adoption

Because Bitcoin and Co. are still in their infancy, the sector needs regulatory clarity. The US financial supervisory authorities SEC and CFTC are in charge of the crypto industry, which is largely based in the USA. Although there have been disagreements among regulators in the past, Chairmen Gary Gensler and Rostin Benham agree on at least one crucial point: regulating Bitcoin as a commodity. And not as a security.

his makes Bitcoin the only cryptocurrency with anywhere near regulatory clarity. In the future, this could have a positive effect on the broad adoption and approval of new financial products such as a Bitcoin Spot ETF. At least if you believe billionaire investor legend Kevin O’Leary, crypto regulation is serving as a catalyst for the next bull market .

Halving and the 4-year cycle

One can also be optimistic with regard to cyclical data sets such as the so-called “Bitcoin Spiral” – a sequence of halving, all-time high and subsequent price decline that occurs every four years. If the patterns of the last few cycles repeat themselves, the price prospects look good.

One of the biggest indicators for the next bull market and the Bitcoin price target of 100,000 US dollars is the halving , in which the block reward and thus the supply of new Bitcoin is halved every 210,000 blocks. The coins in circulation are supposed to increase in value by reducing the supply. The opposite trend can be seen in the expansive monetary policy of the central banks.

The world needs bitcoin

While the money supply slowly increased between 1960 and 1970, since decoupling from the gold standard, the US has been flooding the foreign exchange market with new US dollars. The money expansion reached its peak at the beginning of the global corona crisis in early 2020.

At the same time, debt is increasing. According to USDebtClock , the total national debt to be paid off in the United States is around $31.4 trillion.

This is where Bitcoin comes in: With its flattening inflation curve and function as a store of value, the cryptocurrency could act as the new gold standard. That’s the calculus of bitcoin maximalists. Even the renowned Harvard University is now advising central banks to buy Bitcoin – albeit not altruistically . If followed, the advice could boost price growth.

Bitcoin (BTC) Price Prediction / Market Forecast

The crypto market is known to be highly volatile, predicting future price points of Bitcoin is a difficult task and many other factors influence the price. As a result, the predictions on our website should not be taken as financial advice and you should do your own research. Consult your financial advisor before making any investment decisions.

Bitcoin (BTC) Price Prediction 2022

As we recover from the crypto winter, we are expecting that Bitcoin will achieve a maximum price of $31,565.45 as the market starts to recover. The minimum expected price is $21,043.63 and the average price will hover around $26,304.54.

Bitcoin (BTC) Price Prediction 2023

As Bitcoin continues to reach new highs, our algorithm expects that in 2023, Bitcoin can achieve a maximum price of $49,101.81 while the average price for the year will stay around $43,840.90. If a bear market appears, the minimum price BTC can reach in 2023 is $38,579.99.

Bitcoin (BTC) Price Prediction 2024

In 2024, we expect Bitcoin to see impressive growth as crypto gains recognition across many business sectors. As a result, the price could reach as high as $66,638.17, averaging around $61,377.26. Bitcoin could see a minimum price of $56,116.35.

Bitcoin (BTC) Price Prediction 2025

With the continued growth of capital in the crypto market, Bitcoin could reach a maximum price of $84,174.53 in 2025 with an average price of $78,913.62. If a sell-off occurs, the minimum price expected in our prediction sits at $73,652.71.

Bitcoin (BTC) Price Prediction 2026

Considering the adoption of BTC by countries around the world, Bitcoin can claim a maximum price of $101,710.88 by 2026 with an average price of $96,449.98 expected. Furthermore, the minimum price for the same year could see $91,189.07. 

Bitcoin (BTC) Price Prediction 2027

In the year 2027, Bitcoin adoption will continue to rise, with regulators starting to accept that crypto is here to stay. Investors could see BTC reaching a maximum price of $119,247.24 by 2027 followed by a minimum price of $108,725.43. The average price for 2027 is expected to be $113,986.34.

Bitcoin (BTC) Price Prediction 2028

In 2028, due to the growth over the last 5 years, we will see another major bull, which means that Bitcoin investors may see BTC achieve a maximum price of $136,783.60 followed by an average price of $131,522.70. The minimum price derived from our technical analysis is $126,261.79.

Bitcoin (BTC) Price Prediction 2029

For the year 2029, BTC is expected to continue to rally towards $154,319.96 based on market sentiment. Failing to gain this support could see Bitcoin average around $149,059.06 and bottom out $143,798.15. 

Bitcoin (BTC) Price Prediction 2030

This year will be one to remember for Bitcoin, in 2030 we expect that BTC will reach a new ATH of $171,856.32, the new minimum price of Bitcoin could be $161,334.51. The worst case scenario is that BTC ends 2030 at $166,595.41.

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