Will bitcoin reach $40K in 2023?
- Thread starter uptrendfinancialsignal
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I do not know what can lead to think currently in the middle of the year already, with the SEC denouncing Binance, Coinbase, with the interest in the floors on cryptocurrencies as indicated by the graphs and parameters and the current economic situation, that Bitcoin can rise to more than 40,000 dollars sincerely.
There was a time when people were discussing whether or not the market value of Bitcoin will reach $10,0000 or not. However, now the market could barely reach $30K.
In the last stay nobody knows what the price will do, neither in the short term nor in the medium term, we can analyze and speculate for what may happen, but if it is true that if we do a fair analysis, we will see that the possibility of Bitcoin exceeding 40k this year, are really low.
With the battle that major exchanges and cryptocurrency institutions are facing, people that hold cryptocurrency would be forced to withdraw their cryptocurrency assets which would cause the price to drop further.. It is unlikely that bitcoin would not reach 40k this year.
Yes, it is extremely unlikely that will happen, almost all exchanges are currently in court battles with the SEC, and fewer and fewer people see the market bullish for this year or the next few years we will surely be in a bearish side market for a while.
Yesterday, when I checked the charts, I discovered that Bitcoin has dipped by a whopping -3%. It then dawned on me that cryptocurrency is also having a difficult year too. We have already giveneuo on having a bullish run for this year. Let's look at next year.
Today it has risen again a little because Blackrock wants to open a spot Bitcoin ETF, that would be great news and could cause a lot of capital to enter the asset in the coming months / years, it also depends on whether it is approved and how long it would take for the ETF to be operational.
I hope this move turns out well for the crypto market and Bitcoin. A lot of people have lost faith on the crypto market due to the recent dips. I am optimistic though
Yes, I also expect it, but seen how the SEC is behaving around cryptocurrencies, I see it unlikely that it will accept Blackrock's request, but we also have to know that Blackrock is the largest asset manager in the world and has a lot of power and influence too, we will see what happens.
It does not look like Bitcoin will even reach $30K let along reaching $40K in 2023. However, anything can happen in the crypto world. If the war between Russia and Ukraine stops and world economy improves, Bitcoin will suddely leap forward
Following the Bitcoin trajectory, it seems that it is going to be very difficult for bitcoin to reach such a value but it could only reach the value if the cryptocurrency whalwles adopt buy huge amount of Bitcoin.
