Analysts predict the value of bitcoin as of January 1, 2023

According to the forecasts of cryptocurrency platforms, supporters of the flagship digital asset should expect bitcoin to rise in value after the New Year. According to an expert from StormGain, on January 1, 2023, BTC $98,003.48 Bitcoin 1.11% Market capitalization $1.94 trillion VOL. 24 hours $3.25 billion will be trading around $ 17,500-$ 18,000.

Slightly higher forecasts were voiced by the CEO of Solana NFT club, who expects sideways movement in the range of $ 18,000 — $ 19,000. Due to the global economic crisis, large-scale bankruptcies in the crypto sector, and the US Federal Reserve’s interest rate hike, there is no hope for the growth of Cryptocurrencies to reach historical highs in the near future. A representative of Solana NFT club is convinced that the crypto winter will end in 2024, so investors should be «patient.»

The head of the research division of the investment company VanEck is extremely negative about the price of BTC in 2023, expecting bitcoin to reach $ 12,000 or even $ 10,000 in a few months. «Bitcoin will test $ 10,000 to $ 12,000 in the first quarter of 2023 amid a wave of miner bankruptcies, which will be the lowest point of the cryptocurrency winter,» said Matthew Siegel.

In addition to the bankruptcy of crypto exchanges, Siegel said that the reason for the likely decline in the value of bitcoin is the massive collapse of mining companies, which has already begun. Large mining firms are selling off cryptocurrency mining rigs, hoping to cover losses due to the fall in the value of digital assets on the market. The sale of equipment is also driven by the need to pay off loans that have not paid off — during the period of cryptocurrency growth, miners actively purchased machines and rented premises for them, often on credit.