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Bitcoin Price Prediction – Will BTC Recover in 2023?

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Bitcoin price prediction appears to have turned bearish following the breakout of the $16,660 level on January 3. Candles closing below $16,660 have the potential to drive a bearish trend in BTC. 

One of the longest-contributing members of the Bitcoin Core team, Luke Dashrj, claimed to have lost more than 200 BTC (about $3.34 million) this past weekend after having his wallet keys stolen. The developer tweeted about the incident on Monday, January 1st, adding;

“My PGP key is compromised, and at least many of my bitcoins stolen. I have no idea how. Help, please.”

PGP, short for “Pretty Good Privacy,” is a popular and secure encryption tool. To prevent unauthorized access to sensitive information stored on a server, it can encrypt such information. Before he lost his keys, Dashrj had reportedly used PGP to check if the malware had been introduced into Bitcoin Knots and Bitcoin Core downloads. 

Bitcoin Core is the most widely used software for connecting to and running a node on the Bitcoin network. Bitcoin Knots, on the other hand, has more advanced features than Bitcoin Core but is less well-tested, leaving it more open to attacks. 

The developer did eventually trace the stolen Bitcoins to an address, but he had not received any assistance as of this writing. In the past, he had complained that the FBI and local authorities had ignored his requests for assistance. Some hours later, he penned, “Never mind. Simply put, it’s all but vanished.

Six months in, Bitcoin’s market share has risen to 40%

In July of 2022, Bitcoin’s market share was 40.16%, the last time it was more than 40%. Since October 2020, BTC has dominated the market, as shown by the orange line in the preceding chart. 

As early as the year 2021, BTC had already reached a domination of as much as 70%. In January of 2022, however, that number dropped to just over 40% and continued to fall throughout the first half of the year. 

There was a brief period in late June when BTC’s dominance reached 48%, but otherwise it has remained consistently below 40%.

Bitcoin Price 

The current bitcoin price is $16,658, with a $14 billion trading volume in the last 24 hours. On the technical front, Bitcoin is facing significant resistance at $16,660, and a positive breakout of this level might have an impact on future market patterns.

BTC’s immediate barrier is $16,750, and a bullish break over this level might bring the currency to $16,950.

Bitcoin Price Chart – Source: Tradingview

The RSI and MACD indicators have entered the buying zone, indicating the likelihood of a pullback, but the 50-day moving average is acting as a significant impediment. 

As a result, failure to break above the 50-day simple moving average (SMA) may result in further selling to $16,500. As a result, BTC may find immediate support in the range of $16,350 to $16,100.

Profitable Cryptocurrencies to Keep an Eye on

Investors are looking for safer, higher-yielding alternatives due to the market’s fear of loss. Early investors have access to the market’s largest pre-sales.

FightOut (FGHT)

The FightOut (FGHT) platform functions similarly to a personal trainer, with the exception that the FGHT token is proactively awarded for workout time. All activities are recorded and can be used to improve one’s metaverse avatar’s statistics. 

Earning FGHT tokens encourages users to maintain a healthy lifestyle and exercise while reaping the benefits of blockchain technology. 

FightOut has prospered and attracted investors despite the general lack of liquidity in the bitcoin market. It has already raised more than $2.59 million through its token sale, which began last week. The current selling price of 60.06 FGHT for $1 (FGHT may be purchased with ETH or USDT) will rise as the sale goes on.

Visit FightOut Now

Dash 2 Trade (D2T)

Dash 2 Trade will be an Ethereum-based platform that will provide real-time analytics and social trading data when it starts in early 2023. Trading signals, on-chain analytics, strategy-building tools, and newsfeeds will be among the first features, assisting both novice and experienced traders in keeping up with the volatile bitcoin market. 

With barely 2 days left in the presale, Dash 2 Trade, one of the most crucial ICOs of 2022, has unveiled its dashboard beta. D2T has so far raised around $12.8 million in venture capital. D2T is the system’s access coin, and it is now worth $0.0533 in the presale after selling to investors for $0.0476 earlier.

Visit Dash 2 Trade Now

C+Charge (CCHG) 

C+Charge (CCHG) is a Binance Chain-based peer-to-peer payment system for electric vehicle (EV) charging stations. It intends to expand customer access to carbon credits by rewarding individuals who charge their electric vehicles at its terminals, which will go live in the second quarter of next year. 

To demonstrate its scalability, the platform has already agreed to add 20% of Turkey’s EV chargers to its network. 1 CCHG costs $0.013, and it can be purchased with BNB or USDT. So far, the initiative has raised more than $62,000 in pre-sale funds.

Visit C+Charge Now

Find The Best Price to Buy/Sell Cryptocurrency

Cryptocurrency Price Tracker – Source: Cryptonews