Bitcoin Price Prediction – How High Can BTC Go in 2023?

29 Dec 2022 11:05 AM

By Ali B.

Bitcoin price prediction remains bullish after recovering above the $16,450 level. Bitcoin (BTC) and Ethereum (ETH), the two most valuable cryptocurrencies, have failed to break out of their consolidation phase and are now trading at around $16,000 and $1,100, respectively. 

However, the reason for its downward rally could be attributed to the bearish cryptocurrency market, which tends to support riskier assets like Bitcoin (BTC) and Ethereum (ETH). Dogecoin (DOGE) and Solana (SOL), two popular cryptocurrencies, are also down on the day.

Along with this, the currency's slow price movement could be attributed to ongoing financial insecurity and the COVID concern, which are deterring investors from riskier assets. 

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