Analysts following the bitcoin market have signaled a potential retreat for the token in early 2023, with projections suggesting a slide from around 18,000 USD per coin toward 10,000 USD. This perspective comes from a senior analyst at Esperio who reviewed current market dynamics and recent industry developments before sharing his assessment.
The analyst noted that January was expected to bring continued price pressure due to a broadly negative sentiment across the market. The forecast suggested that the decline could extend to the 10,000 USD level as traders reassess risk amid ongoing macroeconomic concerns and liquidity constraints that have weighed on risk assets in North America and beyond.
Looking further ahead, the assessment warned that a broad-based recovery would not be expected until 2024. The analyst pointed to a series of industry events over the past six months that have tarnished the reputation of digital assets, emphasizing that trust remains a critical driver for renewed demand and price support.
The analyst also explained that demand for cryptocurrencies has stayed subdued amid a fragile global economy. He observed that the adoption narrative faced headwinds after a number of large professional participants were affected by the collapse of a prominent exchange, which has left investors more cautious about allocating capital to digital currencies. In his view, it could take several months for negative sentiment to unwind and for market participants to regain confidence.
In mid-January, bitcoin briefly rose above 18,000 USD, marking a rare uptick not seen since December of the previous year. Yet that rally faded quickly, and the token retraced its gains. Earlier in November, the market endured a sharp drop, with bitcoin losing roughly a quarter of its value in a short period and trading near 15,800 USD at one point, underscoring the volatility that has defined the asset recently.
Industry voices also cautioned against concentrating all savings in bitcoin. A prominent tech entrepreneur urged holders not to risk every financial asset on the leading cryptocurrency, stressing the importance of diversification and prudent risk management for households in North America weighing crypto exposure alongside traditional assets.
For U.S. and Canadian investors evaluating crypto exposure, the current environment highlights several themes: ongoing regulatory scrutiny, the need for robust risk controls, and a careful approach to capital allocation. Market participants are watching how exchanges and custodians strengthen safeguards, how clear guidance from authorities shapes product design, and how macro conditions influence speculative demand. As a result, investors are likely to favor assets with transparent governance, solid liquidity, and demonstrable use cases, even as volatility remains a defining feature of the crypto space.
Overall, the near-term outlook suggests continued price volatility with the potential for further declines before a sustained rebound takes hold. Traders and institutions in North America may be positioning for a slower, more data-driven recovery, awaiting clearer signals from regulators, improved risk infrastructure, and evidence that the industry’s reputational scars are healing. In this climate, informed participation and disciplined risk management become essential for any strategy involving digital assets.