Guided by the desire to minimize the risk of errors, analysts try to determine the upper and lower boundaries of the price range in their forecasts. Another vague prediction refers to the world's first cryptocurrency. Now experts see bitcoin hovering in a wide range of $5,000 to $25,000 in 2023.
Reportedly, its exchange rate will depend on the US Federal Reserve’s decisions. Some experts predict that BTC may plunge to the area of $5,000-$10,000 as there are no driving forces behind its growth yet. However, if the regulator takes measures aimed at stimulating the economy, the price of bitcoin could reach $23,000-$25,000. Notably, the biggest cryptocurrency and other digital assets kicked off the new year on a positive note. Analysts attributed their rally to upbeat data on US inflation for December. The figures obtained sparked hope that the US central bank could pause its aggressive interest rate hikes.
In addition, bitcoin was supported by the news announced during the FTX bankruptcy hearing. FTX Group advisers found more than $5 billion in cash or crypto assets that might be used to help repay creditors. This forced analysts to revise up their outlook for the largest digital asset, which in turn encouraged crypto investors.
