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The year 2023 begins on a positive note for most cryptocurrencies. Bitcoin specifically managed to rise from a low price of around $16,000 and reached the current price of $23,100. Cardano, on the other hand, also increased its price 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 all-time high prices from previous years. Let’s dive into this crypto 2023 prediction.
What happens to bitcoin?
Bitcoin has been consolidating for the past 6 months between a price of $15,700 and $21,300. Over the past few days, Bitcoin managed to break through the strong resistance of $21,300 and reach the current price of $23,100. This price increase has been happening daily since the start of 2023 as cryptos prepare to resume their bullish trend.
Will Bitcoin reach 100K?
2023 has been a bad year for cryptos. The average loss of individual tokens was around 70% in the crypto market. However, 2023 looks promising so far. If Bitcoin continues to rise at such a high rate, we can easily expect Bitcoin to reach its previous all-time high of around $69,700 and even surpass it towards the 100K price.
In 2021, Bitcoin managed to go from a price of $16,000 to a high of $65,000 in 5-6 months. It’s not completely off the mark to expect Bitcoin to do the same this year, as 2021 started out very similarly 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 whole market goes up and vice versa. If Bitcoin were to hit 100K by doing around x5, that means Cardano is also able to do the same in the next uptrend. From its current price of $0.37, Cardano may continue to rise and eventually reach the high price of $2.
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