The last few years have been full of change and challenge for several reasons. As we move through the second half of 2022 and into 2023, expect more changes to occur as society advances and evolves.
Look no further than cryptocurrency when considering this evolution. Right now, Bitcoin has been holding steady around the $21,000 mark for much of the year. It’s a coin that has been on the uptick for a while and is expected to soar in the coming years.
But, what about the near future? Will bitcoin prices rise? We’re happy to explain.
Here are some Bitcoin price predictions that you should consider going into 2023.
Expect Bitcoin Prices to Soar
As you look into price predictions for Bitcoin, you’ll see a lot of different opinions regarding the token. However, it’s important to recognize that by all accounts, Bitcoin is expected to appreciate in value over the next few years.
The token has largely been on an upward trajectory since it was released in 2009, minus some sharp declines and rises. The biggest indicator to keep in mind is that while Bitcoin has seen some ebbs and flows, it has always recovered and has not repeated historic lows.
So while there is some volatility that comes with the value of Bitcoin and other forms of crypto, it remains a sound investment that you can expect to appreciate in value. Those in the know expect 2023 to be a starting point, with the coin experiencing new highs in the subsequent years.
In fact, some investors are expecting the coin to hit the $100,000 mark before the end of 2022. To get an idea about whether this is realistic, it’s important to expand your knowledge of Bitcoin and crypto as a whole.
Get to Know the Circumstances Affecting Bitcoin
So, what details are at play when considering the future of Bitcoin? For one, make sure that you’re taking it seriously. We’ve reached the point that business and finance news outlets are discussing the state of Bitcoin and other cryptos right alongside the stock market, Exchange-traded funds (ETF), real estate, and other investment classes.
We’re a long way from Bitcoin being an underground, alternative form of payment that people with more internet savvy know about. It’s as mainstream as ever, which means that Bitcoin is also subject to different variables that can make the price go up or down.
Here are some of the main details to keep an eye on for the foreseeable future:
Inflation is on the Rise
Even if you’re a crypto enthusiast, you need to stay abreast of what’s happening to the markets and different types of paper currency. Right now, inflation is on the rise in the United States, to the point that the Federal Reserve recently raised interest rates by .75%, a measure that is put into place to correct inflation.
During times of inflation, the dollar loses its value because too much money has been printed. This causes issues that make people tighten their wallets and focus more on diversification and liquid savings. With the advent of crypto, this is also a time that more people are likely to trust alternative forms of currency to grow their net worth.
If the state of the dollar currently has you anxious, it’s a good time to look into Bitcoin so that you can ride the wave of the next big increase. The value of the coin immediately went up following news of the Fed’s interest rate hike.
Make sure to stay tuned to the latest Bitcoin price forecast news to gauge whether or not these prices are continuously affected by the tightening of the market.
The Effects of the War in Ukraine
Since Bitcoin and other types of crypto are now more mainstream, global events are also playing a role in the value appreciating or declining. The War in Ukraine is one of the biggest global issues in recent years and has had a huge ripple effect on economies all over the world.
In fact, this conflict was testing grounds for crypto to play a more significant role in serious situations. The Ukrainian government quickly began accepting cryptocurrency donations to help pay for war efforts. They were able to raise millions of dollars worth of crypto to assist them in purchasing equipment and weapons.
Now that we’ve learned how useful crypto can be with life-or-death implications on the line, expect the use and trust of these coins to continue growing.
Follow the Tech Stocks
You have to study the entire market to recognize just how interconnected everything is. Tech stocks will reveal a lot about the most important sectors and will give you a glimpse into the current and future state of crypto.
For instance, Bitcoin mining and other types of blockchain require access to high-powered processing chips. Taiwan is the biggest producer of these semiconductor microchips, which makes them one of the world’s most important resources moving forward. Many different tech stocks are affected by these sorts of changes.
Anyone that invests in Bitcoin and other types of crypto should take an interest in the most important tech companies that contribute to Bitcoin mining and other such details.
Crypto Awareness Is Growing
Investor confidence is one of the biggest variables that drive up the price of crypto. The more that people know about and trust Bitcoin, the more people will invest. As this happens, you’ll start to see more companies accepting it as a form of payment.
Today, nearly 90% of adults in the United States have heard about Bitcoin. News is spreading fast, particularly because it’s easier than ever to invest in it. People today can get up and running with crypto transactions anywhere they have an internet connection and access to a smartphone.
Expect this awareness to keep growing in the next few years as we push forward into the rest of this decade.
Bitcoin ATMs are also on the rise. These machines make it easier than ever for people to invest, even if they’re not particularly tech-savvy. When you stop by a Bitcoin ATM, you can convert your crypto into cash, move money around, and handle all sorts of other transactions.
Learn How to Get Into Bitcoin Investing
Now that you know more about the price of Bitcoin and its expected trajectory, it’s time to look into investing for your own benefit. You happen to be alive during a time of massive change, and investing in Bitcoin can be an excellent way to stay ahead of the curve. You’ll be able to diversify your income so that you’re not tied to any currency or investment class.
Study the ins and outs of Bitcoin before investing your hard-earned money.
Never invest without a deep understanding of Bitcoin, Blockchain, and how they work. YouTube, investing publications, blogs, and courses can help you out more than you know.
Grasping the details of Bitcoin will help you make informed decisions rather than throwing your money at the next big meme coin. Put your head together with other investors, and consider joining a Discord or group chat where you can share your ideas and questions. Find a quality brokerage account that is safe and secure.
Most crypto exchanges will allow you to try it out before committing. Test out the platform with a few transactions so that you can get used to things and work out the kinks.
Most importantly, remain up to date with Bitcoin news and info on other types of crypto. Becoming an informed investor will help you make the right decisions for your lifestyle and your future. With crypto leading the way in change, you’ll be in a prime position to capitalize.
Bitcoin Price Predictions for 2023 and Beyond
The tips in this article are helpful when you’re trying to study how Bitcoin will grow in the coming years. Knowing how the coin will fare in 2023 and beyond is an excellent starting point for any budding crypto investor.
Understanding the way that Bitcoin is trending will not only give you a glimpse into the financial future, but also gives indications of how we shop, socialize, and spend on things that are most important to us. Start with these price predictions so that you’re setting a solid foundation to grow from.
In the meantime, we’re happy to be your one-stop shop whenever you’re looking for information to help you on your path.
Now that you’re up to speed on the future of Bitcoin, check out our other articles to learn more about crypto, the stock market, real estate, and so much more.