Crypto Forecast For 2023

The last 12 months have been strewn with crypto meltdowns, bankruptcies, and chaos, so the losses should not be surprising to anyone. Now the question is whether all this market chaos will continue in 2023, and how long the?crypto winter?might last.

1. Bitcoin (BTC) - Market Cap: $567 B.

As per Forbes Bitcoin is ending the year at around $22,777.69 ($16,800 USD), down from about $26,440.44 ($19,500 USD) on the eve of the FTX crisis. If contagion continues to reverberate from FTX’s bankruptcy, BTC has more room to fall. Even Cathie Wood, CEO of Ark Invest and a well-known Bitcoin advocate, acknowledges that large financial institutions may take a step back from crypto in the near term because of FTX. Despite standing by her BTC prediction of $1 million USD by 2030 in a recent Bloomberg interview, Wood said, “The one thing that will be delayed is perhaps institutions stepping back and just saying, ‘OK, do we really understand this? With crypto’s reputation badly dented by the crises and scandals of 2022 and wider markets hurting, another leg downward to $13,559.20 ($10,000 USD) may not be so far-fetched for BTC in 2023. JPMorgan Chase & Co. analysts agree that the bottom is not in yet. The bank sees Bitcoin’s floor at around $17,630.80 ($13,000 USD), with “a cascade of margin calls” across the market following recent events.

2. Ethereum (ETH) - Market Cap: $243 B.

According to Forbes Where Bitcoin goes, Ethereum typically follows—or at least that has been the case so far. After the Ethereum merge in September 2022, a major network overhaul for the second-largest crypto by market capitalization, some analysts are speculating that the price action of the pair could soon decouple. “ETH is yet to benefit in terms of value from the recently launched proof-of-stake merge,” Kemmerer says. “Part of the reason is because of the crypto winter.” Kemmerer believes the crypto could rise as high as $3,390.26 ($2,500 USD) in the next six months. While this is an aggressive bull case, the fact remains that the same developments driving Bitcoin’s price are impacting ETH. The macroeconomic climate must cooperate for upside gains to return. If it doesn’t, Ethereum will likely fall further. Having dropped below $1,356.10 ($1,000 USD) in June, it would not be surprising to see a three-digit price for ETH again in the next six months, should more negative catalysts crop up.

3. Tether (USDT) - Market Cap: $75.9 B.

As per the Sun, Tether?cryptocurrency, which is also known as?USDT, was officially launched as Real coin in 2014, but has since changed its name. It's described as a "stable coin", which is a type of cryptocurrency that aims to keep crypto values stable. Tether aims to do this by pegging the price to a regular "fiat" currency, like US dollars, Euros, or the Chinese yuan. Tether claims to keep values steady by holding reserves in that currency in a bank. However, keen investors should know that cryptocurrencies are volatile, and you risk losing all your money. In other words, don't invest more than you can afford to lose, or into anything you don't understand. The Tether price is currently sitting at $1 - and is trading flat over the past 24 hours, according to?Coinbase. Despite its claim to be a stable coin, Tether has still witnessed spikes and sharp falls in price, Susannah Streeter, senior investment, and markets analyst at Hargreaves Lansdown, noted in May. She told The Sun: "It has also been criticized for a lack of transparency, has had to settle US lawsuits and trading in the currency is banned in the state of New York." The price of Tether often fluctuates between $0.99 and $1.0012 - and hardly sees movement beyond those ranges. For the end of 2023, and 2024, it predicts the price to be $1.0854695.

4. U.S. Dollar Coin (USDC) - Market Cap: $51 B.

U.S Dollar coin is a stable coin, meaning it’s backed by U.S. dollars and aims for a 1 USD to 1 USDC ratio. USDC is powered by Ethereum, and you can use USD Coin to complete global transactions. It is expected that the coin’s price remains associated to the price of the US Dollar in 2023.

5. Binance Coin (BNB) - Market Cap: $40.18 B.

As per cryptopolitan, Binance coin is listed on the Binance trading platform as an individual coin, a digital asset, trading with the BNB symbol. Binance coin started in 2017 and is backed by?blockchain. BNB coin runs on ERC20 Ethereum. the Binance ecosystem is designed to support a range of utilities, such as trading fees, listing fees, exchange fees, etc. Furthermore, the main reason why Changpeng Zhao (founder of Binance Exchange) initiated the BNB coin was to remove many trading problems hindering the crypto market. The vision he had made solved those problems and, at the same time, made Binance coin a top competitor with other crypto exchanges. As investors expect a recovery from the crypto winter, our Binance Coin price prediction 2023 expects BNB to reach a?maximum price of $635.63, while the average price for the year will stay around $613.67. If a bear market develops, the lowest possible price BNB could reach in 2023 is $526.03.

6. Ripple (XRP) - Market Cap: $20.9 B.

XRP?is a little different than most cryptocurrencies. It runs on RippleNet, a decentralized network of financial institutions that use Ripple’s blockchain and API technology to clear and settle transactions. XRP is RippleNet’s native currency, and it also facilitates payments on Ripple’s decentralized public blockchain, which is called XRP Ledger. XRP is a centralized cryptocurrency that uses a Federated Consensus protocol to validate transactions. That makes RippleNet and XRP Ledger faster at processing transactions than proof-of-work blockchains like?Bitcoin. Ripple, according to some, is one of the most amazing cryptocurrencies to rise this year (XRP). The XRP price forecast for 2023 anticipates a significant increase in the year’s second half, possibly reaching $0.488947. As with other cryptocurrencies, the rise will be gradual, but no considerable drops are expected. Averaging $0.45635 in price is quite ambitious, but it is feasible in the near future given anticipated collaborations and advancements. XRP is expected to have a minimum value of $0.391157.

7. Solana (SOL) - Market Cap: $18.9 B.

Unlike many other popular blockchains, which operate using proof-of-work (PoW) or proof-of-stake (PoS) consensus mechanisms, Solana was among the first to introduce a proof-of-history (PoH) algorithm, which allows the blockchain to operate quickly while staying secure and decentralized.? It was founded in 2017 by Anatoly Yakovenko, a former Qualcomm (QCOMM) employee and Dropbox (DBX) software engineer,?and his colleague Greg Fitzgerald.?Solana’s main goal was to create an open-source project that implemented a new, high-performance, permissionless blockchain.?The solana coin price prediction from?CoinPriceForecast?was somewhat optimistic. The projection suggested that the coin could trade?at $23.49 by the end of 2023 and?the site’s solana price prediction for 2025 indicated that the price could reach $356 by the end of the year.

Wallet Investor, though, had a SOL price prediction that argued the crypto was in for a tough 12 months, with the coin potentially collapsing to $0.362 by 3 January 2024.

8. Cardano (ADA) - Market Cap: $18.5 B.?

Cardano?is the habitat for the ADA cryptocurrency, mainly used to send and receive digital funds, making direct transfers fast and possible through cryptography.More than being a cryptocurrency, it is a technological platform that helps run the financial applications individuals and institutions use worldwide. The platform is being constructed in layers that allow for soft fork upgrades. According to Cardano price prediction for 2023, ADA will attain a?maximum price of $0.63. Investors can expect a minimum price of $0.52 and an average trading market price of $0.59. Renewed interest in the asset, a general recovery in the cryptocurrency market, and advancements on the Cardano network could all impact the coin’s price in 2023.

9. Dogecoin (DOGE) - Market Cap: $11.9 B.?

Dogecoin is a cryptocurrency based on Litecoin, which is a Bitcoin spin-off and hence uses the same proof of work algorithm since its founding in 2013 by Jackson Palmer and Billy Markus. The most reasonable analysis and price prediction for Dogecoin put its probable price at between $0.15 and $0.17 in 2023. More ambitious analyses put the forecast at 0.6000 by the end of 2023. An even more ambitious prediction puts it at $0.45 by the end of the same year, which is highly improbable.

10. Polkadot (DOT) - Market Cap: $11.4 B.?

Polkadot appeared in 2016 when Gavin Wood published a whitepaper describing the technical features of the project. Although Wood thought that blockchain technology had a bright future, he could also see that it had a lot of issues. Polkadot was designed to overcome those challenges. The main challenge Polkadot aims to address is the lack of interoperability between different blockchains. According to the technical analysis of Polkadot prices expected in 2022, the minimum cost of Polkadot will be $6.27. The maximum level that the DOT price can reach is $7.45. The average trading price is expected around $6.45.

11. FTX Token (FTT) - Market Cap: CAD 5.17 B.?

FTX Token (FTT) is the native token of FTX, a derivatives cryptocurrency exchange launched in 2019. The token is an internal payment unit used for conversion transactions, arbitrage, etc. It runs on the Ethereum blockchain. According to the analytical forecast by Anton Kharitonov, a TU analyst, FTT price will reach $0.94 by the end of 2023.

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