There are many crypto enthusiasts that are busy finding on Google and Crypto forums, when will Bitcoin (BTC) hit $100,000? Or Will Bitcoin reach $100k in 2023? As Bitcoin has made its own place in the blockchain world, people have more expectations from BTC. However, the bearish environment in 2022 has crushed the dream of many crypto investors.
The Crypto market is going through a hard phase. Since January 2022, the crypto market is showing a bearish performance continue. Bitcoin prices are plunging between $18,000 to $25,000. Due to this bearish environment, not just investors are facing losses but also many crypto startups are facing hard times.
However, the whole market is going throw a depressive environment. The Crypto ban to the fall of some crypto projects damaged the charm of cryptos. There are many crypto investors that have to sell their crypto assets at a loss. Due to these panic-selling events the cryptocurrency market cap has dropped below $1 Trillion which has crossed $3 trillion in 2021. It is a clear sign that the fear among crypto holders is increasing day by day.
What do Crypto Experts say?
As we have seen in 2021, the crypto market has achieved a new milestone and many cryptos hit their all-time new highs. Along with Bitcoin and Ethereum, there were many altcoins, as well as meme coins that touched the moon. But, in 2022, most cryptos have lost their value by 50%, and some even more.
In the crypto world, there are different opinions about the future of Bitcoin. There were many crypto experts have suggested that after the bullish performance of 2021, Bitcoin could hit the $100,000 target in 2022. However, now the situation has changed and there is hardly any way that can lead Bitcoin to its $100,000 target very soon.
There are some market experts that still believe that Bitcoin can cross $100,000 in 2023. As we have seen in a report by Time, some crypto experts have suggested that the prices of BTC can cross $100,000 if the market gets bullish. There is no doubt about such predictions because once a bull rally or bearish rally starts all price predictions can be destroyed in seconds.
However, there are also some experts that have suggested that this is just the starting phase of the bear rally. It’s not just the crypto market that is facing a bearish environment, the same is going with the stock market. As we find, most of the crypto analytics firms, along with Telegaon, don’t see such possibilities that can lead Bitcoin to $100k in 2023.
Why do Bitcoin Prices Matter?
Bitcoin (BTC) is also known as the original cryptocurrency. BTC is just not an individual cryptocurrency but is also known as the engine of the crypto market. Once Bitcoin is down, most of the cryptos fell suddenly to the ground. That is the reason the performance of Bitcoin is one of the most important factors in the crypto market.
There are many crypto investors that have entered the market during the time when crypto was touching the skies. In the current bearish environment, such investors are facing more trouble. However, the charm of Bitcoin is increasing day by day. According to Watcher Guru, The total number of Bitcoin addresses ever created has surpassed 1 billion.
Will Bitcoin (BTC) Hit $100,000 in 2023?
As per our long-term BTC price forecast, Bitcoin will hardly hit the $100,000 cap in 2023. If current growth continues Bitcoin can touch the maximum price level of $54,212.56 in 2023. However, the average price of Bitcoin can be around $48,313.37. The minimum price level of Bitcoin can be approximately $42,345.35 by the month end of 2023.
According to some crypto experts, if a great bull rally starts in 2023, it can lead Bitcoin to its $100K target before ending the year. However, we find that it will be really hard for Bitcoin to jump 400% and touch $100,000 in 2023. We need to wait a few months more to decide the future of Bitcoin as the current market situation is looking extremely risky.