Is There Hope for Bitcoin in 2023?

Bitcoin, as the first-ever cryptocurrency to come into circulation, has undoubtedly made its mark in the history of digital finance. Despite having a turbulent and controversial history, Bitcoin has still managed to persevere and dominate in the volatile markets. 


However, as 2023 unfolds, many wonder whether Bitcoin’s journey will continue to be marked by reliance and adoption or if new challenges will dampen its future prospects. As prices drop and the market shifts, is there still hope to be had for the world’s most popular coin? 


Join us as we delve into the 2022 crypto crash, along with the current state and future predictions of Bitcoin. 

Why Was Crypto Going Down?

2023 has been an interesting year not only for Bitcoin but for the crypto market as a whole. Since the 2021 bull run, where many coins reached all-time highs, crypto prices have stagnated. After 2022, when most coin prices dropped sustainably, they have slowly been gaining traction. 


But what caused these prices to crash in the first place during 2022? Many industry experts believe that the downfall of crypto has been caused by several factors. This includes rising interest rates, inflationary fears, and a lack of trust among investors. 


Furthermore, the crypto price slump caused a stir among many businesses, even causing some to collapse altogether. The most notable example was the fall of FTX, a cryptocurrency exchange that was responsible for handling around $1 billion worth of transactions every single day. This caused a domino effect among other exchanges, which resulted in even more uncertainty throughout the entire crypto market.


As the most high-value and popular cryptocurrency, this crypto collapse was particularly noticeable when it came to Bitcoin. In June 2022, Bitcoin’s price dropped below $20,000 for the first time since 2020. 


This drastic drop in price can cause further distress among crypto investors who, during unpredictable economic time periods, will want to reduce their overall investment risk. This means that as Bitcoin’s value began to plummet, more investors were selling their holdings to avoid experiencing further losses.  


Overall, 2022 wasn’t a great year for the crypto market. But as we’re halfway through 2023, is there much hope to be had for Bitcoin and other cryptocurrencies? 

Future Predictions for Bitcoin

There are widely varying opinions when it comes to the future of Bitcoin. Some believe that the coin’s glory days are over and that investors should seek other alternatives. On the other hand, crypto-enthusiasts are sure that Bitcoin has much more to offer. Some even claim that the coin’s prices could soar past its current all-time high of $68,789.63.


For example, some price prediction websites theorise that Bitcoin will shoot to above $40,000 by the end of the year. As the overall market begins to stabilise and investor confidence returns, there’s plenty of reason to believe Bitcoin will be one of the many currencies that will see a resurgence.


Another popular prediction that extends beyond 2023 is the potential for Bitcoin to reach $100,000 in the coming years. After all, cryptocurrency is becoming widely adopted in countries worldwide, and its extensive use cases are already well-known. As more newcomers enter the crypto world, it’s likely that many will turn towards the market’s most familiar coin, Bitcoin.

Is Bitcoin Worth Investing In?

The answer to whether Bitcoin is worth investing in varies between each trader. If you want to invest in a coin that has the potential for long-term and steady growth, then yes, Bitcoin is still a suitable option for you. 


This coin has had an extremely long history and has already proved that it can withstand external economic pressures. Furthermore, as Bitcoin has a capped supply of 21 million, in the future, this coin’s demand will gradually overtake supply. As this happens to an asset class, then the prices tend to inflate substantially. 


Alternatively, if you’re looking for lower-cost and more volatile digital assets to trade, then you may want to turn towards lesser-known altcoins rather than Bitcoin. However, if you want to truly make the most of your crypto investments, we suggest creating a diversified portfolio that consists of a range of different assets. This means that, for instance, you could dedicate 30% of your portfolio to Bitcoin and 70% to a selection of altcoins. 


Finally, despite various crypto crashes over the years, cryptocurrency as a whole still has plenty of potential. Many already view crypto as a suitable alternative to fiat currency due to its anonymity, fast international transactions, and lack of government regulation. Therefore, we have many reasons to still be hopeful about the overall future of the cryptocurrency market. 

How To Invest in Bitcoin in 2023 

Joining the rollercoaster ride of Bitcoin is easier than it may seem. If you want to buy and sell Bitcoin this year, then you can do so in three simple steps:

  1. Choose an Exchange or Brokerage

Firstly, you’ll need to decide whether you want to use a crypto exchange or crypto brokerage to buy and trade Bitcoin. 


A crypto exchange such as Gemini allows traders to buy and sell hundreds of different cryptocurrencies along with a handful of other tradable assets. Cryptocurrency exchanges are a great option for experienced investors who are ready to venture into the markets alone. 


However, traders who are new to the world of trading may prefer to seek out a brokerage instead. A crypto brokerage is an individual or firm that offers various tools and resources to its users. These brokers tend to be highly knowledgeable, enabling them to assist beginner traders and offer sound investment advice to help them excel in the crypto markets. 


If this sounds like a good option for you, then you can connect to a compatible broker through a crypto platform such as rather than spending too much time attempting to find one by yourself. 

  1. Deposit Funds 

After you’ve found an exchange or broker you’re happy with, you just need to connect a payment method and deposit your funds. You’ll then need to wait for the platform to verify your funds and complete your account registration. This can take anywhere between a few minutes and several days.


In the meantime, you can begin conducting your own research and planning out your portfolio. As we’ve said, it’s best to invest in a wide selection of assets rather than rely on just one. This will also help you offset losses and keep your portfolio stable in case of the occurrence of another crypto or stock market crash. 

  1. Buy Bitcoin 

Now, you’re all set to buy Bitcoin! We recommend establishing a budget and setting a long-term goal beforehand. As previously discussed, Bitcoin does have the potential to soar in value once again. But even if the coin does experience further drops in price, then don’t panic! 


This high-volatility coin is notorious for rapid fluctuations, and HODLing onto your assets can be beneficial in the long run. If you keep up-to-date with news about the crypto markets, then you have a better chance of predicting price changes and can alter your portfolio accordingly. Good luck! 

Summary – Is There Still Hope for Bitcoin in 2023?

Despite the crypto crash throughout 2022, we, and many experts within the crypto industry, believe there is still hope for Bitcoin. So far, prices have begun to stabilise, and we still have plenty of the year left to go. Bitcoin is well-known for being resilient. And with it being the most popular crypto coin to ever exist, it’s no wonder why millions of crypto traders choose to invest in it! 


Of course, no one can accurately predict how Bitcoin and other coins will perform in the years to come. However, we and many others are still hopeful and are ready to join the crypto markets on their turbulent yet exciting journey! 

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