The appeal of cryptocurrencies persisted in 2021. Cryptocurrencies are now accepted by Goldman Sachs. In April 2021, Coinbase became the first significant cryptocurrency company to go public. The first U.S. exchange-traded fund with a focus on Bitcoin debuted in October of the same year.
The most well-known cryptocurrency, Bitcoin, had a prosperous year. The value of the digital currency has grown by about 70% since the start of 2021, pushing the total market value of cryptocurrencies past $2 trillion.
The majority of the major coins’ values have significantly increased this year, which has been great for the cryptocurrency market. Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP) are three other digital currencies doing well.
If the history of cryptocurrencies is any indication of the future, investors can look forward to an amazing journey.
The important Crypto predictions for 2023 are as follows:
Bitcoin Price Prediction
Bitcoin’s live price is currently $22,465 with a 24-hour trading volume of $15.6 billion. Bitcoin has increased by 0.37% in the last 24 hours. Bitcoin is the top cryptocurrency on CoinMarketCap, with a live market cap of $433 billion.
It has a maximum supply of 21,000,000 BTC coins and a circulating supply of 19,310,450 BTC coins.
The BTC/USD pair is currently in a consolidation phase, trading within a narrow range of $22,000 to $22,500, according to technical analysis.
A break out of this range, to the upside or downside, could result in significant price movement in the Bitcoin market.
If the BTC/USD pair breaks through the $22,500 level, a bullish breakout could occur, potentially driving the Bitcoin price to the $22,800 or $23,250 levels.
If the support levels around $22,000 or $21,750 are maintained, a rebound may occur.
Ethereum Price Prediction
The current price of Ethereum (ETH) is $1,573.86 USD, with a $4.9 billion 24-hour trading volume. In the last 24 hours, Ethereum has gained nearly 1%. With a live market cap of $192 billion, Ethereum is currently ranked second on CoinMarketCap.
On the technical front, the ETH/USD pair is currently trading in a narrow range between $1,550 and $1,580.
If the price of Ethereum falls below $1,560, it may find support at $1,500. Nonetheless, there is significant resistance at the $1,620 or $1,680 levels, which could limit any further price drops.
Cardano Price Prediction
ADA is currently testing an uptrend that began at the end of 2022. If it declines down to a recent double bottom in the $0.35 region, it looks likely that it will break below this trend line and its 50DMA just under $0.37.
However, a retest of recent highs in the $0.42 region would become more likely if the crypto bulls retake the initiative and manage to drive ADA to close Friday’s session back above the 200DMA.
The Cardano ecosystem will undoubtedly keep expanding in 2023, thanks to its sizable and devoted developer and fan base that keeps launching helpful new blockchain protocols, most recently the overcollaterized algorithmic stablecoin Djed.
ADA can probably continue to increase, assuming that cryptocurrency markets continue their slow ascent from last year’s severely oversold levels.
But, the outlook for a big easing of financial conditions isn’t fantastic because US inflation is still stubbornly high and the economy is still doing well.
In other words, the Fed will likely increase rates by three more times in 2023 and there may not be any rate cuts until the year’s end. A few of rate decreases will likely be required for the crypto enthusiasm to truly return.
In that regard, it appears doubtful that ADA will reach $3.0 this year (almost to a 10x increase from current prices).
Bulls, however, shouldn’t give up. Cardano has a great possibility of maintaining its position as the industry’s leading blockchain, and as more people start using cryptocurrencies in the upcoming years and decades, a rally to $3.0 is very likely to occur at some point. Bulls must, however, exercise patience.
[embedpost slug=”/cryptocurrency-price-prediction-eth-btc-cardano-7th-march-2023/”]
