The year 2023 is starting on a positive note for most cryptocurrencies. Bitcoin specifically managed to increase from a low price of around $16,000 and reached the current price of $23,100. Cardano on the other hand also increased in price, going from a low of $0.25 to the current price of around $0.36. If the year progresses as such, we can easily see cryptos reaching their previous all-time high prices from the previous years. Let’s dive into this crypto prediction 2023.
What’s Happening to Bitcoin?
Bitcoin has been consolidating for the past 6 months between a price of $15,700 and $21,300. In the past few days, Bitcoin managed to breach the strong resistance of $21,300 and reach the current price of $23,100. This increase in prices happened on a daily basis since the beginning of the year 2023, as cryptos prepare to go back to their uptrend.
Will Bitcoin reach 100K?
The year 2023 was a bad one for cryptos. The average loss in individual tokens was around 70% across the crypto market. However, 2023 is looking promising so far. If Bitcoin continues to increase at such a speed, we can easily expect Bitcoin to reach its previous all-time high price of around $69,700 and even breach it higher towards the 100K price.
Back in 2021, Bitcoin managed to increase from a price of $16,000 to a high of $65,000 in a matter of 5-6 months. It is not completely out of line to expect Bitcoin to do the same this year, as the year 2021 started very similar to 2023.
Cardano Prediction 2023: Can Cardano reach 2$?
Bitcoin still has a market dominance of 42%. This means that when Bitcoin goes up, the entire market goes up and vice versa. If Bitcoin were to reach 100K doing around x5, this means that Cardano also is able to do the same in the upcoming uptrend. From its current price of $0,37, Cardano can continue to increase and eventually reach the high price of $2.
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