Bitcoin will reach $20,933 on January 21, 2023, up 0.75% next week

Industry experts interviewed by CNBC last week at a cryptocurrency conference in St. Moritz, Switzerland, warned against investing in cryptocurrencies after 2023. But Bitcoin will trade within a range, it will remain sensitive to macroeconomic factors such as rate increases. of interest and will trade within a price range despite its volatility. However, respondents say a new bull run is unlikely this year.

In line with risky assets like stocks, bitcoin rose at the start of the year, but experts don’t expect it to hit its all-time high of just under $69,000 again. Despite this, experts remain optimistic about the future. For the next few weeks, here is our price prediction.

Expert Prediction of BTC Average Rate in January 2023

We predict that the BTC price will be $17,714.11 in January 2023. This includes the low of $21,517.67 and the high of $45,254.35. Based on our current Bitcoin price prediction, Bitcoin will reach $20,933 on January 21, 2023, up 0.75%.

Our technical indicators show neutral sentiment, and our Fear & Greed index shows 45. Bitcoin price volatility over the past 30 days was 6.34%, with 18 out of 30 (60%) days in the green. According to our Bitcoin forecast, now is a great time to buy Bitcoin.

As of January 16, 2023, 11:28 a.m., 20 technical analysis indicators are showing bullish signals and 14 are showing bearish signals, suggesting a neutral sentiment towards Bitcoin.

Crypto experts predict that the average rate of BTC in January 2023 will be $20,890.09, based on Bitcoin price fluctuations in January 2022. According to its specification, its minimum price is $19,099.51 and the maximum price is $ 21,486.95.

Its highest level since April 5 was 52 on January 15, and since the start of the week, BTC has gained 24%.

By February 15, 2023, Bitcoin’s 200-day SMA will reach $19,669 according to our technical indicators. We estimate Bitcoin’s 50-day simple moving average to reach $20,194 by February 15, 2023.

Bitcoin Value: What Influences It?

Unlike most altcoins, Bitcoin is not heavily influenced by the rest of the cryptocurrency market and is generally a trendsetter.

But it is important to remember that many factors can affect the price of Bitcoin.

Bitcoin continues to respond to big crypto news, mainly when it affects the entire industry or other popular coins like Ethereum or Shiba Inu. Non-crypto news also affects the price of Bitcoin, as evidenced by its spring 2020 price action. Investors should also monitor the green sector.

Any news related to Bitcoin, whether it is about Bitcoin itself, crypto exchanges, or blockchain technology, will affect the price. Every time there is news about mass adoption, new technological advances, etc., the prices of cryptocurrencies go up. Conversely, any uncertainty could hurt its value.

How profitable is investing in Bitcoin?

The current forecast for Bitcoin in 2023 is neutral, based on multiple technical and quantitative indicators. In 2023, Bitcoin can be a good investment. If you are considering buying bitcoin, consider both technical and fundamental factors (price history, on-chain activity).

We forecast Bitcoin to hit $20,933 on Jan 21, 2023, up 0.75% over the next week. We expect the Bitcoin price to rise 27.41% in the next month, reaching $26,473 on February 15, 2023.

We know crypto markets for overcoming challenges and bouncing back after they are written off by everyone, including Bitcoin. Every month without fail for the past eight years, financial experts have predicted that the Bitcoin bubble would burst “soon”. Despite this, BTC investors are still enjoying huge gains and the coin remains on top.

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