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
Cardano (ADA) is under pressure as one of the industry’s largest and most successful payment services withdraws. Following the FTX meltdown and Terra’s LUNA collapse, the Silvergate Capital situation appears to be the next major failure.
Bullish sentiment is facing strong headwinds and appears poised to collapse, completing the bearish triangle in its path.
Cardano’s price had already dropped nearly 6% in the European session on Friday when initial reports about Silvergate exiting the crypto business surfaced.
Silvergate was a second-tier retail bank that pioneered a commercial gateway for cryptocurrencies and hard cash transactions.
Silvergate’s withdrawal now is almost analogous to Russia’s loss of access to the SWIFT network, and it may indicate that funding issues await battered crypto participants.
ADA, on the other hand, has recently traded to break out of the bearish triangle and has been met with some sharp rejections.
With the current headwinds for altcoins, expect another existential crisis, with a first drop towards $0.32. Once the level is under pressure from the bearish triangle’s completion, a 10% leg lower with $0.30 in hand appears to be granted.
Where one door closes, another may open, and a new service provider may replace Silvergate. Several large banks have already established a cryptocurrency trading desk, and it would be a small step for them to take over the business and provide the services Silvergate previously provided. This would result in some calm in the altcoin space, with ADA quickly breaking out of the red descending trendline and revaluing near $0.37.
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