2022 Was One Of The Toughest Years For bitcoin (btc): It fell by close to 60% in the past twelve months, a decline that made the well-known cryptocurrency one of the worst investments for Argentinians, who chose this option as a value shelter.
Its present is very different from its glory days: last Jan. 1 it averaged u$s46.800 per unit, but failed to reverse bear market and arrived in orbit in December $16,800,
“Few things in the world beat inflation in Argentina and bitcoin was no exception”underline the iProfessional Economist Ivan Carino, who also ranks the digital currency created by Satoshi Nakamoto as a big loser compared to fixed term (UVA and traditional) and Marvell due to its weak performance.
Bitcoin in 2023: what price do experts expect
in conversation with iProfessionalVarious experts from the crypto ecosystem share their expectations regarding the future of BTC.
Mattias Bari, co-founder of the Satoshi Tango exchange, warned that although futurology is very difficult to do, imagine A quiet 2023 for the ecosystem, but still with the brunt of crypto winter.
“I don’t see a huge increase in volume, but regulation is an issue that will be on the agenda and it will set a good precedent for removing bad actors from the ecosystem,” he admits.
The most pessimistic forecast puts BTC below $10,000 in 2023
For his part, Gabriel Vago, CEO and founder of ArgenBTC exchange, believes the cryptocurrency will continue to decline in 2023 and expects its value to drop below five figures.
“I wouldn’t be surprised to see bitcoin take on values of and $s8.000,he says with concern.
Camilo Rodríguez of Cryto Rocket and co-founder of Cracademia Academy, shares Vago’s vision and suggests that the lateralization seen in 2022 will continue for the next year,
“Bitcoin will move between U$s14,000 why u$s18.100 About this. It’s a wide range, with low volume and little liquidity, as was the case in 2018.”Adds and warns that “there will be sudden movements from corner to corner, with sporadic upward trends, but which will generate a subsequent downward spiral.”
Bitcoin: they see “takeoff” only in 2024
In addition, experts predict that a new bullish cycle will begin only in 2024, with U$s45.000 as Ruf Pobyle in April of that year.
Meanwhile, Mariano Masterrana, CEO of cryptocurrency platform HeirloomDAO, put a magnifying glass on the decisions of the United States Federal Reserve (FED) and its dealings with interest rates.
Bitcoin recovery expected in 2024
“This is a very important point, as it will be the main driver of liquidity in the crypto market because when the Fed raises interest rates, it makes the dollar more attractive to investors and increases its demand. it reduces the interest by cryptocurrencies, causing a price reductionhe warns.
In the event of a drop in rates, “Bitcoin has a good chance to recover a more stable value around $ US$s25.000 US$s30.000 And it will open the possibility for many other currencies to recover from a disastrous 2022″, insisted Maesterena, offering a more optimistic forecast than his colleagues.
“In 2023, a reduction in interest rates is expected with great hope. Internationally, China’s central bank adopted measures that provide more liquidity to the market, and central banks such as England are doing the same. The market expects a reduction in rates in the United States at the end of the first quarter,” says the expert.
How will the next halving affect the price of bitcoin?
Maisterrena explains that the halving is a scheduled event in the BTC network where the number of new bitcoins created in each block is halved.
“This is done to control inflation and maintain the scarcity of the cryptocurrency. This happens every time 210,000 blocksWhich equates to roughly every four years,” experts say, but caution that there is no consensus about its true impact on ecosystems.
“There are many different theories about this. Some argue that it has a positive effect due to a decrease in supply, but others argue that it does not play a significant role in price in the long run. Due to the volatile nature of the cryptocurrency market“, Understand.
If the Fed keeps rates at this level, bitcoin will move to somewhere between $14,000 and $18,100.
In this regard, Vago pointed out that the next halving is expected to occur in the first months of 2024, and although this process generally produces an increase in the value of the digital currency, experts tell The strongest results are seen a year after the event.
“It is therefore very likely that there will be a very strong increase in 2025. A slight upward trend arises in the year of the halving, which usually ends in the next one,” concluded the expert.