When Bitcoin reached its all-time high (ATH) of $69,000 in November 2021, many investors expected to see $100,000 in the following months.
However, the sentiment turned bearish, and investors believed that lower prices were likely to follow. The self-fulfilling prophecy played out, as Bitcoin dropped to around $15,000 during the FTX collapse, nearly 80% down from its all-time high.
If that wasn’t bad enough, many investors are even calling for a $10,000 Bitcoin.
Bitcoin Price Prediction
Bitcoin reaching $100,000 in the near future seems unlikely with the coin struggling to break out above $16,500 in recent weeks.
Many traders and investors are now predicting more pain in the short term with analysts predicting a local bottom of $12k-$14k – and some lower – in the wake of chaotic macroeconomic conditions and few price catalysts on the horizon.
Although both the RSI (relative strength index) and MACD (moving average convergence/divergence) are relatively bullish, interest rates remain high and crypto market conditions are awful in the wake of the FTX collapse.
A short-term Bitcoin price prediction sees BTC unlikely to push above $20,000 until at least early 2023, with a move to the downside more likely before the end of the year.
However, there may be more positive news in the mid to long-term, with the next Bitcoin halving approaching and expected in the first half of 2024.
Previous halving cycles have all been major catalysts for crypto bull runs and the same is expected to be true in the latter half of 2023.
Bitcoin Alternatives
With Bitcoin moving sideways, investors are now looking for alternatives that will provide at least 10x returns in the short term.
Our review team discovered three coins – already appreciating in their presales – that have tremendous potential to rally once listed on exchanges.
