Most crypto experts see bitcoin swinging in a wide range between $5,000 and $25,000 in 2023. Such price instability could be related to the Fed's decisions on interest rates. Analysts assume that BTC may well test $10,000 and move even lower as there are currently no drivers to support its growth. The trajectory of the number one cryptocurrency largely depends on the US Federal Reserve and its pace of monetary tightening. If the US government takes steps to stimulate the economy, bitcoin will get a chance to recover to $25,000. In early January, the cryptocurrency gained ground amid the news that inflation in the US continued to accelerate. Market participants expected the US regulator to ease its monetary policy amid the incoming macroeconomic data but this never happened. Another positive factor to prop up bitcoin was the aid provided to those users who suffered from the FTX crash. BTC is likely to benefit from this move. The fact that major US watchdogs can file lawsuits against crypto exchanges plays a huge role in the crypto industry. Earlier, Russian Finance Minister Anton Siluanov said that Russia was ready to greenlight the use of crypto as a payment tool in international trade. The ministry is open to such suggestions but notes that “settlements in cryptocurrency with other trading partners should be comfortable for all parties.”
