The bitcoin exchange rate is expected to drop sharply from $18,000 per coin to $10,000 in January 2023, Anton Bykov, a senior analyst at Esperio, told socialbites.ca.
“In January, prices will most likely continue to fall due to the general negative situation in the market and may reach $10,000 per coin,” he said.
According to him, the next rally (period of sustainable growth – socialbites.ca) should not be expected until 2024. “The nuances of the industry should also be taken into account, in which a large number of events have occurred in the last six months that have adversely affected the reputation of digital assets,” the expert said.
Bykov explained that the demand for cryptocurrencies remained at a low level due to the difficult economic situation in the world. “Introducing cryptocurrencies has become a bit odd, as there are a large number of large professional contributors among the victims of the FTX cryptocurrency exchange bankruptcy. It will take months for the negativity to disappear,” he said.
On January 12, the Bitcoin exchange rate exceeded $18,000 for the first time since mid-December 2022. However, after the growth, the bitcoin rate was already falling sharply, in November last year the world’s main token lost 23% of its value in two days to $15.8k.
Former Twitter founder Jack Dorsey called bitcoin holders Do not store all your savings in the world’s main cryptocurrency, as “no one can be trusted” with financial assets.